The contract will last for five years and represents the second sale of Bravura’s SuperStream software to a client since the company launched the product in Australia last year.
“We are delighted to be assisting our client to comply with both the 2013 (rollover) and 2014 (high volume contributions) phases of the new SuperStream regulations,” said Bravura's Jason Tong, chief operating officer - APAC.
Bravura’s SuperStream messaging compliance software enables super funds to comply with the reforms designed to enhance the 'back office' of superannuation.
“We are finding that many funds preparing for the 2013 rollover element of the new regulations have adopted tactical solutions that are unlikely to deliver the full efficiencies or member outcomes intended from the SuperStream initiative,” Mr Tong said.
“This implementation will ensure our new client achieves these efficiencies and member outcomes with ease.”
Bravura’s software supports real-time reporting to other parties, such as the Australian Taxation Office, investment managers and custodians, as well as managing data and automating processes.
