Specialist financial services software provider Bravura Solutions last week announced it had secured a five-year agreement with an existing government superannuation client for the use of its Babel software as a "SuperStream messaging compliance solution".
Announcing the deal, Bravura Solutions head of strategic accounts John Burke claimed the solution had ensured the client became one of the first in the country to be compliant with the SuperStream regulations.
According to Bravura, Babel is the only SuperStream messaging solution available in Australia that provides "out-of-the-box" compliance with full straight-through processing.
"Babel will not only provide ‘day-one-compliance' but also establishes a foundation for migration of business-to-business and business-to-government reporting to the new ebMS/XBRL messaging standard over time," Burke said.
He said Babel could be leveraged at a later date to include real-time reporting to other parties such as the Australian Taxation Office (ATO), investment managers and custodians.
