Bravura Solutions Limited (Bravura) today announced its suite of wealth management applications now administer more than US$1 trillion in funds globally.
This milestone follows the company's floating in June 2006, with demand being driven by legislative reform, the changing distribution landscape and growth of new client accounts, which have driven increased spending on IT infrastructure and services.
Bravura's Group CEO, Iain Dunstan said over the course of three years, Bravura has achieved exponential revenue growth.
Dunstan said the goal is to be the leading supplier of wealth management apps in the Asia Pacific region, and globally.
Geographically, the UK and European markets have provided Bravura with its most significant growth opportunities. In FY2007, these regions accounted for 63 per cent of Bravura's revenues.
Bravura's northern hemisphere success was driven by a shift in the distribution landscape towards wrap platforms; increased focus on self-funded retirement; and the need to simplify cross-border transactions.
This has allowed the company to increase its investment in research and development. In 2007, the company increased its annual internally funded R&D commitment by 109 per cent from A$4.9 million to A$9.8 million.
Bravura's software manages more than 18 million accounts across four broad market segments: investment and asset management; superannuation and pensions; life insurance; and transfer agency.