Bravura Solutions has received a mandate from an existing state superannuation fund client for the use of Bravura's Babel software as part of a SuperStream solution.
The company announced this week that the super fund had entered into a five-year agreement for the use of the software as a SuperStream messaging compliance solution, representing the second sale of Babel since its introduction to the Australian market in December last year.
Commenting on the mandate, Bravura chief operating officer, Asia Pacific, Jason Tong said the company was delighted to be helping its client comply with both the 2013 (rollover) and 2014 (high volume contributions) phases of the new SuperStream regulations.
"We are finding that many funds preparing for the 2013 rollover element of the new regulations have adopted tactical solutions that are unlikely to deliver the full efficiencies or member outcomes intended from the SuperStream initiative," he said.
"This implementation will ensure our new client achieves these efficiencies and member outcomes with ease."
