[July 03, 2009] Bravura Solutions: Bravura and i-Financial sign partner program agreement for anti-money laundering software supply Tweet London,, Jul 03, 2009 (M2 PRESSWIRE via COMTEX) -- (ASX: BVA/OTCQX: BRVSY) - Bravura Solutions (Bravura) - a leading global supplier of wealth management applications and professional services has signed a partner program agreement withInternational Financial Systems Australia Pty Ltd, (i-Financial)a company specialising in providing software solutions, services and equipment to a variety of banks, credit unions and financial institutions worldwide,to supply anti-money laundering software to Bravura's clients. Anti-money laundering has become more heavily regulated in Australia following new legislation in December 2006[1], and as a consequence financial institutions are now required to more rigorously scrutinise their data. i-Financial's MLTrac anti-money laundering productdelivers web-based compliance tools that together help identify, track and regulate potentially suspicious or illegal activities in respect to money laundering and the proceeds of crime. "Due to the global nature of Bravura's business, itwas important to choose a partner that has a presence in both Australia and the UK, and would be able to assist our clients in identifying and tracking suspicious transactions," said Darren Stevens, Bravura's Global Head of Product. "Bravura continually searches for new and innovative ways to offer our clients the best the market has to offer. Outsourcing our anti-money laundering needs to a best of breed supplier, such as i-Financial, was the clear choice for our clients. We chose i-Financial because of its solid track record in providing responsive service, successful delivery and superior technical skills across a broad range of hardware, software and service offerings," he said. MLTrac offers a modular approach tailored to provide the appropriate level of functionality for the defined level of risk and need of each entity. Its online capabilities capture data and relevant documentation from new customers, checking it against a range of government watch lists and electronic verification services. The product automatically detects changes in the lists and continuously sweeps the existing customer database ensuring that all customers remain compliant. MLTrac can also link into third party providers. One of the modules, Know Your Customer ("KYC"), allows users to manage commencement and ongoing customer due diligence requirements, as well as providing a watch list checking engine to validate customers against persons of known interest. MLTrac also delivers an account monitoring module with flexible business rules to identify possible suspicious trends, and a transaction level monitoring module for identifying and investigating individual transactions as defined by the user. "We are delighted to partner with Bravura to offer MLTrac to its client base," said Chris Kelly, i-Financial's Sales Director in Australia. "In choosing MLTrac, Bravura has gained the ability to assist its clients to improve their internal disciplines, supplement their policies and procedures, and make a clear statement to authorities about their commitment to effective anti-money laundering controls," he said. About Bravura Solutions Limited Bravura Solutions Limited (Bravura) is a leading global supplier of professional consulting services and highly specialised administration and management applications for superannuation and pension, life insurance, investment, portfolio administration, transfer agency and STP financial messaging. Bravura provides professional services and wealth management applications to more than 180 financial institutions including a range of corporate clients. More than 18 million customer accounts are administered on Bravura software, with more than A$1.5 trillion in funds managed globally. Bravura currently employs more than 570 people staffing 14 offices across Australia, New Zealand, UK, Europe, Poland, Asia and South Africa. Bravura is proud to have won the 2009 Australian Business Awards for International Trade in the IT&T category, the 2008 European International Custody and Fund Administration award for European Asset Servicing Technology Vendor of the Year, and to be listed as the only Australian company in the American Banker global FinTech 100 in both 2007 and 2008. Bravura is also recognised as one of the 50 financial technology companies included in the global Finextra50 Financial Technology Index. American Depositary Receipts (ADRs): Bravura's ADRs trade under the code BRVSY. Each Bravura ADR is equivalent to 20 ordinary shares of Bravura as traded on the Australian Securities Exchange (ASX). The Bank of New York Mellon is the depositary bank. Bravura's ADRs are listed on International OTCQX (www.otcqx.com), a premium market tier in the U.S. for international exchange-listed companies, operated by Pink OTC Markets, Inc. About i-Financial International Financial Systems (i-Financial) specialise in providing software solutions, services and equipment to wholesale, retail, internet and community banks, credit unions and other financial institutions worldwide. In the past two decades, i-Financial have worked with a diverse customer base including over 100 banks, both large and small. Our scalable modern banking software is available in a range of configurations and includes BankWare.NET (Core Banking), i.Bank (Internet Banking), SMS Banking (Mobile Phone Banking), ML-Trac (Anti Money Laundering Software) and NameChecker (Online Sanctions List checking tool). [1]The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 received Royal Assent on 12 December 2006 and represents the first tranche of reforms to strengthen Australia's anti-money laundering and counter-terrorism financing system. CONTACT: Clare Anderson, Metia Tel: +44 (0)203 100 3601 i-Financial WWW: http://www.i-financial.com.au Bravura Solutions Limited WWW: http://www.bravurasolutions.com ((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to [email protected]. [ Back To TMCnet.com's Homepage ]