Sonata

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Overview

Sonata is an award winning next generation administration system, developed with a core principle that strong customer relationships underpin long-term, sustainable business success.
A client-centric, multi-line-of-business, multi-channel, full lifecycle administration platform, Sonata is composed of a tightly-integrated suite of functions including new business, core policy administration, claims management and workflow as well as websites for investors, tied agents and advisers.
Sonata capabilities and scope
Sonata supports the full administration life cycle, from application and transacting, through to customer servicing and reporting, delivering a highly flexible solution that supports business change, facilitates cost control and improves operational efficiency via enhanced automation and state of the art workflow technology.
It operates on a single code base using a building block approach that permits the flexible construction of products that can also hold a wide range of underlying investments.
Core to the Sonata application are four administration modules:
> Pensions and SIPPs;
> Wrap and platforms;
> Retail and group investment
> Life insurance administration;
These modules allow a wide range of products and propositions to be administered on a single platform within a single installation of the system:
Sonata core modules
Below is a summary of the Sonata modules:
- SonataWeb
SonataWeb is a personalised, user-friendly front-end portal, suitable for use across each of Sonata’s business lines. Seamlessly integrated into the core platform, SonataWeb supports real-time, straight through processing. With SonataWeb, engagement and self-service becomes a reality. Further details of our SonataWeb foundation packs are included in section 3.8 of this proposal
- Sonata Back Office
Sonata Back Office is a comprehensive, full life-cycle administration solution which supports the differing administration operating models found within financial services providers. It has been developed with Straight through Processing as a fundamental principle, therefore eliminating manual intervention and increasing business efficiencies.
Its design is highly configurable, allowing Sonata users to configure products, calculations, rules, validation, and system behaviour, all of which results in new product and service innovation and complex workflows being delivered in a short time frame, minimising the time to market for new initiatives.
- Sonata Workflow
Sonata contains an in-built workflow system. This is fully user configurable and allows rapid implementation of user driven workflows and automated processing to achieve high levels of straight through processing. By having control of how work is processed clients can lower costs and improve their customer service proposition and well as being able to reduce the time required to train staff for new products and propositions.
- Sonata Web Services
Sonata’s Web Services are a set of SOA endpoints in the form of WSDL defined message-based services. Sonata Business Services (SBS) are accessible via web services (HTTP), messaging (JMS) and Java EJB transport protocols. The services all employ document/literal style WSI Basic Profile 1.0 compliant web service messages. Web Services also offers a range of configurable event-driven outbound services that produce messages based on events that occur in Sonata.
- Sonata Operational Data Store (ODS)
Sonata also has an integrated Operational Data Store module to assist clients to fully utilise the detailed transactional data resident in Sonata for MI and BI reporting. The ODS is a de-normalised view of Sonata data model and enables users to create their own reports, statements, letters and general correspondence utilising a third-party reporting tools such as Crystal and Cognos or data analytics tools such as MicroStrategy.

Key Features

See overview

Key Benefits

Sonata is being rapidly adopted by tier-one firms globally including Prudential, Genpact, Nucleus, Fidelity, Royal London Group and Scottish Friendly in the United Kingdom; Russell Investments, Perpetual, TAL, VicSuper and Mercer in Australia; and Partners Life, Westpac, Trustees Executors and Mercer in New Zealand.
Some of the Sonata key features that benefit our clients include:
> Customer-centric: Sonata is built on a customer-centric data model placing investors at the core of the system supporting the lifetime of their relationships and interactions with providers. This provides a consistent picture across propositions and product types which is then presented to customers through the web front end and mobile.
> Multi-product: Sonata supports multiple product types including a wide range of protection products, pensions, savings, onshore and offshore bonds, annuity payments and general investment accounts.
> Multi-channel – Sonata supports multiple channels including advised, D2C, workplace and B2B2C.
> Highly configurable: Sonata is highly configurable, allowing an experienced user to set up new products from core rule definitions in the system. This means clients enjoy a high degree of flexibility and control of product offerings without the need for development or recourse to Bravura.
> Integrated workflow: Sonata contains an in-built workflow system. This is fully user configurable and allows clients to achieve high levels of efficiency via user driven workflows and automated processing.
> Straight through Processing: Sonata streamlines administration including integration with data warehousing, straight through processing and online delivery through web portals and phone systems.
> Highly scalable: Sonata’s modern technology platform delivers a highly performant solution. The middle tier scales horizontally, and the full power of Oracle database technology supports the platform. This positions clients for growth and enables them to migrate current books of business.
> Service Oriented Architecture: Sonata provides an extensive set of web services and integrates well into a service oriented architecture. This is key to the success of providers integrating with other systems including their own web, tools and calculators if required.

Sonata features a user-friendly web portal that assists advisors to strengthen client enegagement. SonataWeb also provides investors with 24/7 online access to information, including straight through processing to streamline operations and improve client satisfaction and retention. In the face of continual pressure to reduce fees and charges, operational and process efficiencies are critial. Sonata's built-in workflow and configuration support customisation and true straight through processing to streamline operations and improve productivity. The application's operational data store (ODS) enables your business to achieve greater control and better management, by ensuring reports on product and client activity are based on timely, current and accurate information. It can support a range of distribution channels, whether branch network, advisory channel or direct-to-consumer. With Sonata, clients can launch new products faster than ever without the need for complex coding by a clients IT staff. The ability to respond quickly to evolving dvisor and customer needs, and keep pace with market developments deliver your business a sustainable edge.