Bravura Solutions Limited (ASX:BVS) (Bravura): Bravura today announced a contract with global third-party administrator, JPMorgan Chase & Co. (J.P. Morgan) has been renewed for an additional five years. J.P. Morgan will continue to work with Bravura to provide transfer agency services via the GFAS platform and automated end-to-end STP messaging support through Bravura’s Babel system. GFAS is a multi-jurisdictional and multi-currency global platform that supports the administration of both offshore and onshore funds.
Extending its existing 20-year transfer agency partnership, J.P. Morgan will continue to use GFAS as its core transfer agency platform, to support third-party funds administration operations in Luxembourg and Dublin.
J.P. Morgan services the complex requirements of the largest and most demanding fund promoters in the world. Assets under administration exceed US$500 billion and the firm processes over 3 million investor trades through Bravura systems, every year. Along with GFAS, J.P. Morgan also uses Babel – Bravura’s automated financial messaging technology solution – to connect to the SWIFT and EMX networks.
Throughout 2018, Bravura and J.P. Morgan worked in partnership to develop additional functionality to address the evolving needs of J.P. Morgan’s transfer agency clients. Additionally, J.P. Morgan and Bravura developed a faster, more efficient and repeatable migration capability. This has allowed the bank to consolidate books of business from their other European transfer agency platforms on to GFAS, as well as new books of business from other third-party providers.
Diane MacFarlane, Head of Global Fund Services EMEA at J.P. Morgan said: “Transfer Agency services are a core offering of our expanding fund services platform. The GFAS platform has proven its reliability and scalability, and is comfortably able to cope with the changes in scope for our business. Bravura works closely with us on developments to keep improving the platform, and we are pleased to continue working with them.”
On the extension of the deal, Andy Chesterton, COO, Bravura Solutions said: “We have built a strong and successful relationship with J.P. Morgan over many years, enabling them to consistently deliver cost efficiency and operational effectiveness to their customers. This latest deal is testament to the strength of our core transfer agency systems and our ability to deliver to J.P. Morgan’s expectations.”