Mercer has opted for Bravura’s unified wealth management platform Sonata as part of an upgrade to its benefits administration sector.
The platform will support a new administration service that focuses on accumulation funds and is accompanied by straight through business processing.
Mercer managing director and Pacific market leader, Ben Walsh, said fund members will get real-time access to their accounts from their desktop, laptop and mobile devices, where they can check account balances, transaction history and investment performance, as well as change investment strategy.
“Mercer intends to leverage Sonata to modernise our current administration platform and also support significant new books of business,” Walsh said.
Mercer will use the platform to administer multiple books of super and KiwiSaver business for clients in Australia and New Zealand.
It plans to have two clients running on the Sonata platforms by the end of this calendar year.
Mercer was previously using the SuperB product. The full migration from SuperB to Sonata is part of a five years business transition for Mercer.
Sonata is an integrated platform that supports super, pension, KiwiSaver, life insurance, trust and wrap products.
Bravura APAC managing director, Roland Slee, said Mercer would be the first super administration provider in Australia to leverage a commercial off-the-shelf platform.
