Bravura delivers on SuperStream compliance
Specialist financial services software provider Bravura Solutions last week announced it had secured a five-year agreement with an existing government superannuation client for the use of its Babel software as a "SuperStream messaging compliance solution".
Announcing the deal, Bravura Solutions head of strategic accounts John Burke claimed the solution had ensured the client became one of the first in the country to be compliant with the SuperStream regulations.
According to Bravura, Babel is the only SuperStream messaging solution available in Australia that provides "out-of-the-box" compliance with full straight-through processing.
"Babel will not only provide ‘day-one-compliance' but also establishes a foundation for migration of business-to-business and business-to-government reporting to the new ebMS/XBRL messaging standard over time," Burke said.
He said Babel could be leveraged at a later date to include real-time reporting to other parties such as the Australian Taxation Office (ATO), investment managers and custodians.
Recommended for you
High-net-worth advisers seeking to grow their businesses are likely to find alternatives to be a key part of the puzzle amid investor demand, according to Praemium’s head of private wealth.
The financial advice profession has lifted back above the 15,500 mark this week thanks to a double-digit net rise in adviser numbers, according to Wealth Data.
A closer watch on licensees that fall short on cyber security protections is among a dozen new enforcement priorities announced by the corporate regulator for 2025.
Research house Morningstar has welcomed a new director for manager research to cover Australian and New Zealand fund managers.
