Glasgow
12 July 2017
Reporter: Stephanie Palmer

Bravura wins Scottish Friendly mandate


The Scottish Friendly Assurance Society, UK mutual life office, has gone live with the Bravura Solutions Sonata administration platform, for its life and pensions business.

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.”

More fund services news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Industry consortium creates third-party risk platform
16 November 2016 | London | Reporter: Theo Andrew
TruSight includes American Express, Bank of America, J.P. Morgan Chase and Wells Fargo, and intends to deliver a “comprehensive approach”
Big changes ahead for BNY Mellon in 2018
14 November 2017 | New York | Reporter: Theo Andrew
BNY Mellon is set to undergo sweeping organisational changes, creating three new units under its investment services segment, and merging its three largest US investment management businesses
Link Group acquires Capita Asset Services
06 November 2017 | Sydney | Reporter: Jenna Lomax
The acquisition will help the Sydney-based solution provider to expand its European operating platform, as well as its product and regional capabilities
BNP Paribas expands Italian insurance mandate
06 November 2017 | Milan | Reporter: Theo Andrew
The appointment is an expansion of BNP Paribas existing global custody mandate with the Italian insurance firm
CoInvestor chosen for Luxembourg real estate fund
06 November 2017 | Luxembourg | Reporter: Theo Andrew
CoInvestor’s online platform will help streamline access for investors looking to participate in a diverse pool of real estate-backed loans, which have been underwritten by LendInvest
Allfunds develops MiFID II tool suite
31 October 2017 | London | Reporter: Theo Andrew
The fund platform’s offerings now include an share class analysis tool, compliant access to over 54,000 funds and exchange-traded funds, and additional tools enabling clients to add value
Wolters Kluwer chosen for risk and reg by Polish bank
23 October 2017 | Warsaw | Reporter: Theo Andrew
Bank BPS will use the OneSumX solutions for static and dynamic projection analysis, liquidity reporting, interest-rate and foreign-exchange risk, as well as value-at-risk analysis
More fund services news