Bank to continue to consolidate transfer agency capabilities to vendor platform.
Bravura Solutions has announced a ten-year technology and managed services deal with BNY Mellon.
The bank will continue to consolidate its European transfer agency operations onto Bravura's own cross-border platform, Rufus, with a contract extension built in to the agreement. Babel, the vendor's straight-through processing (STP) portal, will be installed by the bank, along with its real-time information hub taWeb.
"We are proud of our proven partnership with BNY Mellon and are thrilled that one of the world's leading financial institutions has decided to extend the use of Bravura's technology and services," says Andy Chesterton, global COO, transfer agency at Bravura. "This contract is a demonstration of our company-wide ability to provide a range of integrated services and products. With a shift in the relationship between transfer agency, wrap platforms and distribution, well-delivered investment administration services can improve client service and increase assets under management. Innovative technology solutions that add value have a key part to play."
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