Bravura Solutions Pty Limited (Bravura) has today unveiled Sonata CPPI, a new module within its award winning Sonata solution. The fully integrated, global module enables financial services organisations to offer individualised and flexible portfolio protection products including individualised time invariant portfolio protection (iTIPP). Sonata CPPI users can offset the risk of providing protection with a third party risk management provider. Barclays is the first bank to offer this service to clients.
“Barclays is keen to support organisations launching individualised portfolio protection products. Changing demographics, regulatory reform and increased choice are driving product innovation in the investment space for life insurance companies, pension providers and wealth and asset managers. Technology now enables products to fit the individual needs of the investor with flexibility and choice as core components,” said Fabien Labouret, Global Head of Investment Strategies at Barclays Investment Bank.
“By using Sonata CPPI, Barclays’ institutional clients will have access to Barclays’ risk management products removing the need to invest in significant new technology development to provide such individualised solutions.”
Sonata CPPI enables advisers to retain management of end customer portfolios, with the option of applying and altering protection levels to suit individual needs. End customers are also able to manage specific investment assets within their portfolio, via a tailored portal.
“This latest addition to our next-generation Sonata platform represents an exciting new market for us, enabling providers to offer investors a sensible risk/reward balance with a transparent investment process,” said Tony Klim, CEO at Bravura. “The capability to administer Micro CPPI products, with a tier-one bank such as Barclays as a partner, demonstrates Sonata’s strengths and further highlights the flexibility of the platform.”
Sonata is Bravura’s unified wealth management platform. With a long-standing heritage, it provides customer-centric administration of pension, investment and life insurance products. Delivering rich, proven business functionality in Java and Oracle technology, the solution includes workflow, analytics, mobility and straight-through processing capabilities.