VicSuper successfully releases core platform with bravura solutions

Today VicSuper announced the next step in its digital evolution with the successful release of its foundation administration system, Sonata, Bravura Solutions’ (Bravura’s) next-generation wealth management platform. This release positions VicSuper at the forefront of Australia’s superannuation industry with a sophisticated, in-house administration system that provides a consolidated view of member data.

This evolution was driven by a desire for increased member engagement and the need to deliver timely, relevant information across multiple channels and devices.

Over the past two years, VicSuper has progressively updated its systems and technology. VicSuper started by modernising the Fund’s public website in October 2013 and then launched a mobile member portal in January 2014. Today’s announcement recognises the successful completion of an 18 month project to update the Fund’s core administration system, as well as its secure member and employer web portals.

VicSuper recognised that any new foundation platform needed to support straight through processing, automatic reconciliation and efficient investment of contributions, as well as providing robust reporting functionality and a single-client view of member data.

"We are delighted to have partnered with Bravura to deliver this business-critical project", Michael Dundon, Chief Executive Officer, VicSuper, said. "We chose Sonata as it not only reduces the number of systems we use, but helps optimise our business processes, so we can better service our members and reduce operating costs.’

The Sonata platform is now in production following a successful migration from two of Bravura’s heritage systems that previously stored members’ data for accumulation and retirement income products. The new Sonata modules deployed at VicSuper include the Sonata platform, Sonata Operational Data Store (ODS), Sonata Workflow, SonataWeb and SonataMobile. The implementation includes the first integration of Bravura’s Babel solution with Sonata to provide a complete, end-to-end SuperStream solution for both contributions and rollovers.

"VicSuper is now using the most contemporary, best-practice system in the industry. We see this as an important step in our digital evolution. We intend to keep innovating and to continuously enhance the products and services we offer our members’ Mr Dundon concluded.

Bravura APAC Chief Operating Officer, Jason Tong, said: "When this contract was signed in June 2013, we committed to a go-live date of 12 January 2015. The project was delivered to production on that very day. This is a significant achievement that speaks to the quality of the software, the implementation methodology, the experienced and dedicated project teams at both VicSuper and Bravura, and the strong ongoing relationship between our two organisations.

"We are extremely pleased to have VicSuper as our first Australian superannuation client live on the Sonata platform. We are confident that this investment in modern systems positions VicSuper well to drive and manage future growth," Tong said.

For more information or to organise an interview, please contact:

VicSuper
Sara Daymond
Executive Manager – Marketing
sara.daymond@vicsuper.com.au
+61 3 9667 9701
+61 414 891 686

Bravura Solutions
Dana Danieli
Head of Marketing and Communications
ddanieli@bravurasolutions.com
+61 2 9018 7831

Alexis Harrison
Senior Marketing Consultant
alexis.harrison@vicsuper.com.au
+61 3 9667 9762
+61 411 273 424

About VicSuper

VicSuper is a $14 billion strong profit-to-member superannuation fund with over 240,000 members, over 20,500 participating employers and over 10,000 retirement income members (figures as at 31/12/14). The underlying assets of the Fund have almost doubled over the past 5 years.
Open to all Australians, membership is strongest in Victoria where the Fund began nearly 20 years ago.
The Fund’s strategic plan is designed to grow and build long term resilience while delivering long term value for its members.

About Bravura Solutions Pty Limited

Bravura Solutions Pty Limited is a trusted provider of software solutions for the wealth management, life insurance and transfer agency industries, underpinned by functionally rich technology that enables modernisation, consolidation and simplification.

We are committed to increasing the operational and cost efficiency of our clients, enhancing their ability to rapidly innovate and grow, minimising their risk and enabling them to provide better service to their customers.

Backed by over 30 years of experience, our installed solutions or hosted managed application services are mission critical to some of the world’s leading financial institutions. In excess of A$2.5 trillion in assets are entrusted to our systems.

We support our clients with a team of more than 920 people in 16 offices across Australia, New Zealand, Asia, United Kingdom, Continental Europe and South Africa.

For more information about us visit www.bravurasolutions.com. You can also follow us @BravuraFinTech.

About Sonata

Sonata provides rich, proven wealth management functionality, developed and delivered in modern technology with open interfaces. Sonata is an integrated platform that supports superannuation, pensions, life insurance, trust and wrap products. The platform includes web services and workflow, and enables real-time, straight through processing.

About Babel

Babel is Bravura’s SuperStream messaging solution that integrates with Sonata Workflow to efficiently manage SuperStream messages.

Today VicSuper announced the next step in its digital evolution with the successful release of its foundation administration system, Sonata, Bravura Solutions’ (Bravura’s) next-generation wealth management platform. This release positions VicSuper at the forefront of Australia’s superannuation industry with a sophisticated, in-house administration system that provides a consolidated view of member data.

This evolution was driven by a desire for increased member engagement and the need to deliver timely, relevant information across multiple channels and devices.

Over the past two years, VicSuper has progressively updated its systems and technology. VicSuper started by modernising the Fund’s public website in October 2013 and then launched a mobile member portal in January 2014. Today’s announcement recognises the successful completion of an 18 month project to update the Fund’s core administration system, as well as its secure member and employer web portals.

VicSuper recognised that any new foundation platform needed to support straight through processing, automatic reconciliation and efficient investment of contributions, as well as providing robust reporting functionality and a single-client view of member data.

"We are delighted to have partnered with Bravura to deliver this business-critical project", Michael Dundon, Chief Executive Officer, VicSuper, said. "We chose Sonata as it not only reduces the number of systems we use, but helps optimise our business processes, so we can better service our members and reduce operating costs.’

The Sonata platform is now in production following a successful migration from two of Bravura’s heritage systems that previously stored members’ data for accumulation and retirement income products. The new Sonata modules deployed at VicSuper include the Sonata platform, Sonata Operational Data Store (ODS), Sonata Workflow, SonataWeb and SonataMobile. The implementation includes the first integration of Bravura’s Babel solution with Sonata to provide a complete, end-to-end SuperStream solution for both contributions and rollovers.

"VicSuper is now using the most contemporary, best-practice system in the industry. We see this as an important step in our digital evolution. We intend to keep innovating and to continuously enhance the products and services we offer our members’ Mr Dundon concluded.

Bravura APAC Chief Operating Officer, Jason Tong, said: "When this contract was signed in June 2013, we committed to a go-live date of 12 January 2015. The project was delivered to production on that very day. This is a significant achievement that speaks to the quality of the software, the implementation methodology, the experienced and dedicated project teams at both VicSuper and Bravura, and the strong ongoing relationship between our two organisations.

"We are extremely pleased to have VicSuper as our first Australian superannuation client live on the Sonata platform. We are confident that this investment in modern systems positions VicSuper well to drive and manage future growth," Tong said.

For more information or to organise an interview, please contact:

VicSuper
Sara Daymond
Executive Manager – Marketing
sara.daymond@vicsuper.com.au
+61 3 9667 9701
+61 414 891 686

Bravura Solutions
Dana Danieli
Head of Marketing and Communications
ddanieli@bravurasolutions.com
+61 2 9018 7831

Alexis Harrison
Senior Marketing Consultant
alexis.harrison@vicsuper.com.au
+61 3 9667 9762
+61 411 273 424

About VicSuper

VicSuper is a $14 billion strong profit-to-member superannuation fund with over 240,000 members, over 20,500 participating employers and over 10,000 retirement income members (figures as at 31/12/14). The underlying assets of the Fund have almost doubled over the past 5 years.
Open to all Australians, membership is strongest in Victoria where the Fund began nearly 20 years ago.
The Fund’s strategic plan is designed to grow and build long term resilience while delivering long term value for its members.

About Bravura Solutions Pty Limited

Bravura Solutions Pty Limited is a trusted provider of software solutions for the wealth management, life insurance and transfer agency industries, underpinned by functionally rich technology that enables modernisation, consolidation and simplification.

We are committed to increasing the operational and cost efficiency of our clients, enhancing their ability to rapidly innovate and grow, minimising their risk and enabling them to provide better service to their customers.

Backed by over 30 years of experience, our installed solutions or hosted managed application services are mission critical to some of the world’s leading financial institutions. In excess of A$2.5 trillion in assets are entrusted to our systems.

We support our clients with a team of more than 920 people in 16 offices across Australia, New Zealand, Asia, United Kingdom, Continental Europe and South Africa.

For more information about us visit www.bravurasolutions.com. You can also follow us @BravuraFinTech.

About Sonata

Sonata provides rich, proven wealth management functionality, developed and delivered in modern technology with open interfaces. Sonata is an integrated platform that supports superannuation, pensions, life insurance, trust and wrap products. The platform includes web services and workflow, and enables real-time, straight through processing.

About Babel

Babel is Bravura’s SuperStream messaging solution that integrates with Sonata Workflow to efficiently manage SuperStream messages.