Old Mutual Wealth (OMW) South Africa has announced a strategic collaboration with Bravura, a leading financial services technology provider to the asset and wealth management communities, to enhance its Discretionary Fund Manager (DFM) functionality of its Linked Investment Service Provider (LISP) platform.
The partnership aims to revolutionize the services and technology available to DFMs in South Africa. Designed specifically for the funds markets, the adoption of Bravura’s technology will enable Old Mutual Wealth’s LISP platform to reduce operational overheads and improve efficiencies, while helping to reduce the regulatory burden for DFMs. This is delivered by automating a variety of business processes and facilitating real-time data analysis, allowing DFMs to enhance reporting, respond quickly to market changes and increase agility in making investment decisions.
The software is delivered through two of Bravura’s microservice solutions, MPS (Model Portfolio Service) and SSAD (Single Source Asset Data), giving DFM’s the ability to create and manage investment models, including bulk re-balancing and reporting, without the need for Old Mutual Wealth to re-platform. This, combined with enabling the creation and management of portfolios more efficiently, further reduces risk and better bridges the gap between advisers and DFMs.
Bravura’s microservice technology is already being used directly by DFMs in the UK following the Financial Conduct Authority’s Retail Distribution Review in 2012, meaning Old Mutual Wealth and its partners will benefit from its market-proven technology and maturity.