Fund administration software provider, Bravura, has landed another major Australasian client for its new Sonata platform.
Last week, Mercer said in a statement it would use Sonata “to administer multiple books of superannuation and KiwiSaver business for clients across Australia and New Zealand”.
Aside from the just over $1 billion in its own two, soon-to-be-merged, KiwiSaver schemes, Mercer’s only major administration client in the sector is the approximately $1.4 billion Fisher Two scheme (formerly Tower).
Fisher’s other $1.2 billion KiwiSaver scheme is currently administered by Trustees Executors, which also signed up for Bravura’s Sonata this March.
Announcing the deal, Mercer Asia Pacific managing director, Ben Walsh said the firm would “leverage Sonata to modernise our current administration platform and also support significant new books of business”.
“Ensuring the highest standards of member and customer service is a top priority for our benefits administration business,” Walsh said. “… Members will be able to view their account balances, transaction history and investment performance, change investment strategies and update personal details – anytime, anywhere.”
In February Bravura moved its Auckland office to accommodate staff numbers that had doubled to more than 100 over the previous 12 months.
