Australian financial software provider Bravura announced that its Dashboards Connect ISP solution has been selected by the Local Government Pension Scheme (LGPS) in England and Wales.
The multi-year partnership aims to connect LGPS’s pension member data to the UK’s Pensions Dashboards Programme (PDP) Central Digital Architecture (CDA).
It allows the West Yorkshire Pension Fund (WYPF) to leverage Bravura’s scalable ISP solution to connect to the PDP’s CDA, and onboard members from more than 850 employers.
Additionally, the partnership will help more than 400,000 members to find and view their pensions when pensions dashboards are available to the public, known as the Dashboards Available Point (DAP).
WYPF project, communications and technology head Elizabeth Boardall 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 open 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.”
Bravura’s partnership with WYPF follows a competitive selection process, and its ISP solution was procured outside the National LGPS Procurement Framework for ISP and Member Data Services.
The company’s technology is said to work with more than 50 clients in the UK, including pension funds, international banks, and large financial institutions.
Its systems hold more than £4.5 trillion in funds under administration (FUA), and its financial messaging service processes £1 trillion in investor transactions each month.
Bravura said that its partnership with WYPF marks its first collaboration with a public sector organisation in the UK.
The partnership is said to present Bravura with a significant opportunity to support its recent expansion into the UK, after delivering an administration system for Australia’s superannuation fund, Aware Super.
Bravura EMEA CEO Chris Spencer 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.”
