London, 20 October 2016, Bravura Solutions Limited (Bravura)
Bravura Solutions Limited (Bravura) today announced another ‘Software as a Service’ (SaaS) client, having been selected by Smith & Williamson Fund Administration Ltd to power its transfer agency administration.
The deal means Smith & Williamson, the accountancy, investment management and tax group and a fast-growing UK independent authorised corporate director service provider, will take Bravura’s SaaS transfer agency package. This includes the adoption of Bravura’s automated end-to-end STP messaging technology solution, Babel.
Smith & Williamson will become the second group to take up the SaaS package, following boutique asset manager Margetts Fund Management Limited (Margetts), who moved to self-administration with the SaaS package in June 2016.
James Gordon, Head of Smith & Williamson Fund Administration, which currently acts for 158 funds representing £7.7billion funds under management, commented:
“As we continue to grow our hosted ACD and associated fund administration business, we remain committed to providing a fully integrated in-house service complemented by key strategic external suppliers. Our partnership with Bravura will allow us to enhance operational efficiencies, reduce risk associated with transfer agency activities and benefit from Bravura’s infrastructure, servicing and system functionality.”
Andy Chesterton, COO, Global Transfer Agency at Bravura said:
“For any firm in this space looking to expand, the need for an integrated, scalable, hosted solution benefitting from greater automation alongside significant operational efficiencies has never been greater. By partnering with Bravura, Smith & Williamson is well positioned to take full advantage of the market opportunity by allowing it to concentrate on self-administering its growing fund range with minimal interruption. We look forward to helping Smith & Williamson grow its business through a strategic partnership that benefits from our extensive experience in providing administration and messaging solutions.”
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