Bravura has updated its Sonata platform to include further support for defined benefit superannuation, group life insurance, and the introduction of a multi-currency function.
“The release makes available important legislative updates for Australian superannuation administration such as Superstream Member Account Attribute Service (MAAS) and improvements to the straight-through processing for member and employer matching in response to the industry evolution in Superstream.
“It also includes support for the government housing affordability measures,” the statement said.
Commenting on the announcement, Bravura chief operating officer for Asia Pacific Jon Alder said Bravura allowed for global wealth markets to be “unified into one single platform”.
“With a flexible and highly configurable solution like Sonata, we are able to respond to the dynamic legislative environment,” Mr Alder said.
“Sonata enables the efficient rollout of new functionality in a consistent and predictable manner that ensures our customers stay ahead of changes in the industry.”