Under the mandate, a single Sonata system will be used for administering Scottish Friendly’s entire product range, including insurance, protections, pensions, annuities and bonds. The implementation included the migration of some 47.6 million client transactions.
Sonata’s straight-through processing and workflow features are intended to improve Scottish Friendly’s operational efficiency and reduce costs.
Jim Galbraith, chief executive of Scottish Friendly, said: “Having a first-class back-office system is vital to our highly successful strategy of organic growth, business process outsourcing and mergers and consolidations. This important upgrade demonstrates our commitment to service and efficiency to customers and business partners alike.”
Bravura CEO Tony Klim commented: “This implementation of Sonata at Scottish Friendly shows the full range of products that Sonata is able to administer in the UK life and pensions market which, combined with its integrated workflow and modern technology, puts it at the forefront of the system consolidation we are starting to see across this market.”