Tech Mahindra has chosen Sonata by Australian vendor Bravura Solutions as the new registry software to service investment company Perpetual.
"This deal demonstrates the rapidly growing popularity of Sonata," said Bravura’s APAC managing director, Roland Slee.
Slee told CRN that Bravura has added more than 100 new employees in the past year and that "the growth was principally due to the adoption of Sonata".
Sonata is a wealth management platform built on Java and Oracle that provides "customer-centric administration of superannuation, pension, investment, wrap and life insurance products", according to Bravura.
Perpetual is upgrading from a legacy Bravura product, Talisman – a 1990s client-server system built on PowerBuilder and Sybase. Bravura also counts Russell Investments and VicSuper among its clients.
"We selected Sonata as it provides proven, mature business functionality for Australian wealth management," said Rohit Gandhi, Tech Mahindra's head of Asia Pacific, India, Middle East & Africa.
When Tech Mahindra was engaged back in November, Perpetual's acting group executive Paul Statham said in a statement, "We are looking forward to seeing a complete refresh of registry IT infrastructure and applications which will allow us to focus on our core strengths".
Tech Mahindra is a multinational that employs 83,000 people in 49 countries. It is part of the Mahindra Group conglomerate, which has a head count of over 150,000.
-1.jpg&w=100&c=1&s=0)
.png&w=100&c=1&s=0)
