Platform software provider Bravura is upgrading platform clients to a new technology system later this year.
UK platforms currently operate on Bravura’s Talisman system though the newer version Sonata already operates in other countries.
The Sonata system is designed to be quicker and more user friendly. Platforms say it will also reduce manual processes such as telephone dealing, which incurs charges on some platforms.
Nucleus will be the first UK platform to roll out the technology over the summer. Aviva expects to move to the Sonata system in the second half of this year. Meanwhile Ascentric and Fidelity will move directly onto the Sonata system when it adopts Bravura’s technology.
Nucleus business development director Barry Neilson says: “We have been heavily engaged with Bravura on an upgrade to the technology system. This will offer improved platform performance and new functionality.”