Bravura Solutions, a global supplier of wealth management applications and professional services, has expanded its agreement with Scottish Friendly to service Norwich Union's Lifetime proposition.
Yesterday, NU announced it would be outsourcing its Lifetime platform to Scottish Friendly in a bid to improve customer service.
Under its initial three year deal with Scottish Friendly, Bravura will provide secure hosted applications to support the re-launch of Norwich Union’s high net worth wrap proposition. The project comprises a licence fee as well as implementation, maintenance and hosting services. It is expected to generate several million dollars of revenue over the initial period of the agreement.
Bravura provides a suite of wealth management products to support the administration of wrap accounts, retirement savings and investments. The product is used by investment managers, banks, and product administrators to administer client holdings in the UK, Australia, New Zealand, and Asia.
Tony Klim, EMEA CEO at Bravura Solutions, says: “Bravura is delighted to have been chosen to work with Scottish Friendly to provide this installation for Norwich Union. It further extends the use of the Bravura wrap solution and will see Norwich Union’s customers provided with enhanced services and capabilities. This will cement our position as a leading platform provider in the UK market.”
Bravura provides professional services and wealth management applications to more than 180 financial institutions including a range of corporate clients. More than 18 million accounts are administered on Bravura software, with more than US$1 trillion in funds managed globally.
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