Bravura Solutions Limited (ASX:BVS) (Bravura): today announces its Dashboards Connect ISP solution has been selected by the third largest Local Government Pension Scheme (LGPS) in England and Wales to connect its pension member data to the Pensions Dashboards Programme’s (PDP) Central Digital Architecture (CDA).
The new multi-year partnership, which is one of the first ISP partnerships to be announced by an LGPS, will see West Yorkshire Pension Fund (WYPF) use Bravura’s user-friendly, resilient and scalable ISP solution to connect to the PDP’s CDA.
In total, Bravura will support WYPF onboard members from more than 850 employers, across the mix of funds it administers. This will enable more than 400,000 members to find and view their WYPF-administered pensions when pensions dashboards are available to the public – a point known as the DAP (Dashboards Available Point).
The partnership follows a wide-ranging and ITT competitive selection process with Bravura’s award-winning ISP being procured outside of the then-yet-to-be-announced National LGPS Procurement Framework for ISP and Member Data Services, which Bravura was appointed to in May.
Bravura’s technology works with more 50 clients in the UK – including pension funds, international banks and large financial institutions, with its systems holding more than £4.5tr in funds under administration* (FUA) and its financial messaging service processing £1tr in investor transactions each month.
The partnership with WYPF is Bravura’s first with a public sector organisation in the UK and represents a sizeable opportunity for the business to continue its recent expansion into the UK pensions and workplace savings sectors following it delivering a next-generation, digital-first administration system for Australia’s second largest superannuation fund, Aware Super.
Chris Spencer, CEO EMEA, Bravura, said: “Our scalable and reliable ISP gives West Yorkshire Pension Fund the reassurance they need to ensure regulatory compliance, while opening them up to future innovation due to the ease of integration and connectivity our ISP solution provides. It also generates a world of possibilities for Bravura to work with other leading and future-focused public sector organisations, helping to introduce new technologies into the sector to modernise and increase value, efficiency and scale.”
Elizabeth Boardall, Head of Project, Comms and Technology at WYPF, said: “As a leading LGPS, we are committed to supporting our members on their journey to save for a healthier retirement. Dashboards will help millions of people find and view lost pensions, as well as opening the door for future innovation, increase engagement and better personalisation. We were hugely impressed with Bravura’s forward-looking approach and the unrivalled scalability, cost and ease of integration of its ISP solution. The business’ in-depth knowledge and expertise means we’re confident we have the right partner to help safely and securely onboard our member’s data and open us up to future innovation.”