Babel is a message translation, management and routing solution that can be installed on the client site to deliver services within the fund’s or administrator’s organisation to provide SuperStream compliant messaging. Through Calastone’s network services, Babel can now be delivered with pre-integrated SuperStream network connectivity, allowing electronic communication between funds and fund administrators using compliant message standards.
Roland Slee, Managing Director, APAC for Bravura Solutions said: “Despite SuperStream compliance dates being less than seven months away, many funds are still without a solution. Our Babel messaging application readily integrates with a fund’s workflow and administration systems, reducing the risk and complexity associated with being ready for SuperStream from 1 July 2013. Calastone’s pre-integration with Babel provides the network connectivity that essentially completes the SuperStream jigsaw.”
A long-time partner of Bravura’s in the UK, Calastone provides low latency network services to the fund industry in Australia and abroad, and is now providing network services to the superannuation industry to support SuperStream.
Kevin Lee, Joint Founder, Calastone said: “We are extremely pleased to be able to offer Bravura access to the Calastone network and provide Babel clients with SuperStream compliant network connectivity. This relationship allows Babel users to automatically connect to the Calastone network without incurring any extra integration costs or testing associated with the network connection.”
Launched in Australia on 29 November 2012, Babel’s configuration allows funds to easily comply with SuperStream regulations by providing a single technical solution to generate messages and manage the full ‘lifecycle’ of all in and out-bound SuperStream compliant communications. A flexible financial messaging application, Babel has been specifically configured to solve the complex messaging issues that super funds and fund administrators are facing when implementing a SuperStream compliant environment and processes.
Calastone’s messaging network has a proven track record providing secure message routing in 16 domiciles, including Australia and is currently carrying over 1.3 million messages with a combined trading value of over A$20 billion every month. Its SuperStream service fully complies with the latest standards ensuring the data and payments are fully synchronised. The service is non-exclusive allowing all of the superannuation industry to achieve high quality, highly resilient, low cost electronic connectivity.