The UK-listed wealth and asset management firm has signed a new five-year deal with the fintech firm.

Bravura Solutions, the international fintech firm headquartered in Australia, has signed a new five-year contract with Schroders, the wealth and asset management firm. 

The deal provides Schroders Investment Management (Luxembourg) with transfer agency and financial messaging support, extending a relationship that has run for 16 years.

UK-listed Schroders will continue to use Bravura's GFAS platform as its core transfer agency system to support funds in Luxembourg and five other domiciles. Schroders also uses Babel – Bravura's automated financial messaging technology solution – to connect to its US offshore intermediary distribution network through the Depository Trust & Clearing Corporation's National Securities Clearing Corporation subsidiary.

GFAS is a multi-jurisdictional and multi-currency global platform that supports the administration of both offshore and onshore funds.

Among recent developments, last week Schroders logged net operating revenue of £51.9 million ($75.6 million) in its wealth management division in the first three months of this year, down from £52.4 million a year earlier. Pre-tax profit was £13.7 million, up from £13 million. Net flows were flat in the first quarter and assets under management at the end of March were £32.9 billion, up from £31.6 billion at the end of 2015.