Financial software solutions company Bravura Solutions has signed a 10-year deal with BNY Mellon. The contract sees BNY Mellon continue the consolidation of its transfer agency technology onto Bravura’s platform.
The new agreement sees BNY Mellon deploy Bravura’s STP messaging platform, Babel, as well as its taWeb real-time portal, which provides third-party administrators, fund managers and their distribution networks with online access to consolidated investor transactional data across multiple back-office systems.
The agreement also includes an extension of BNY Mellon’s existing contract with Bravura for its cross-border transfer agency platform, Rufus.
“We are delighted to extend our already well-established partnership with Bravura. Our strategic aims are perfectly aligned and will support the development of both businesses providing value added benefits to our clients and prospects in this dynamic market place, which is challenging all providers to take a more global view whilst also reacting to more local regulatory and industry challenges,” said Jon Willis, head of EMEA transfer agency services at BNY Mellon.
Andy Chesterton, global COO of transfer agency at Bravura, said: “We are proud of our proven partnership with BNY Mellon and are thrilled that one of the world’s leading financial institutions has decided to extend the use of Bravura’s technology and services."
“This contract is a demonstration of our company-wide ability to provide a range of integrated services and products. With a shift in the relationship between transfer agency, wrap platforms and distribution, well-delivered investment administration services can improve client service and increase assets under management. Innovative technology solutions that add value have a key part to play.”
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