Bravura Solutions has rolled out a new module, known as Sonata CPPI, within its Sonata wealth management platform.
Sonata CPPI is an integrated, global module that will help financial providers offer individualised portfolio protection products such as individualised time invariant portfolio protection (iTIPP).
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The new module can also help prevent the risk of offering protection with a third party risk management provider, the company said.
Bravura Solutions CEO Tony Klim said: "This latest addition to our next-generation Sonata platform represents an exciting new market for us, enabling providers to offer investors a sensible risk/reward balance with a transparent investment process.
"The capability to administer Micro CPPI products, with a tier-one bank such as Barclays as a partner, demonstrates Sonata’s strengths and further highlights the flexibility of the platform."
British banking major Barclays has become the first lender to offer the service to its clients.
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By GlobalDataBarclays Investment Bank global head of investment strategies Fabien Labouret said: "By using Sonata CPPI, Barclays’ institutional clients will have access to Barclays’ risk management products removing the need to invest in significant new technology development to provide such individualised solutions."
The Sonata platform of Bravura offers customer-centric administration of pension, investment as well as life insurance products, leveraging workflow, analytics, mobility and straight-through processing capabilities.
