London/Sydney – GBST, a leading global wealth management administration and advice solutions technology provider has been named ‘Best Wealth Platform Technology Provider 2023 – EMEA’ in the Wealth & Finance International FinTech Awards. This award follows GBST’s investment in a multimillion-pound project to upgrade GBST’s underlying technology architecture to a cloud-based Software-as-a-Service (SaaS) solution that delivers a modern, responsive, content-driven digital experience for users.
GBST has been at the forefront of wealth management technology for over four decades, but the recent transformation of its architecture has accelerated its ability to support clients’ continued innovation while helping them adapt quickly to increasing industry complexity, changing regulation, and evolving market needs.
For GBST, innovation runs deeper than just technology. Global CEO, Robert DeDominicis has ensured the creation of strong working relationships between in-house digital experts, technology product experts and customer experience specialists. Combining deep financial industry knowledge with digital expertise has resulted in the new technology stack delivering an ‘out-of-the-box’ experience for clients that focuses on configuration and quicker time to market, rather than extensive development.
The transition to cloud-based SaaS technology has also delivered several advantages for GBST including a web-based interface within its back-office administration solution normally reserved for the front end of systems, guided journeys and enhanced functionality based on our unique Global Experience Language (GEL) shared design framework. Improved consistency, an enhanced user experience, risk reduction and a more secure and reliable client platform have been added benefits, alongside greater automation of business processes and helping clients scale without adding significant cost. At the same time, data transfer has been standardised through domain-based REST APIs, opening up Composer to integration possibilities, while its microservices architecture aids the adoption of emerging technologies.
GBST’s comprehensive wealth management solutions and digital offerings particularly stood out to the FinTech Awards judges, with the new architecture set to further accelerate the launch of new functionality, products, and solutions by automating many of the processes involved in building, testing, and deploying new software.
DeDominicis comments: “We’re delighted to be recognised as a leader in wealth platform technology. Wealth management organisations are increasingly realising that digital transformation isn’t just about portals and online access but requires a fundamental change in business strategy. By rationalising legacy technology systems, simplifying IT requirements and moving to a single platform that supports multiple product lines, organisations can deliver a streamlined digital experience to customers while improving operational efficiency, reducing risk, and lowering ongoing costs.
“With four decades of industry experience, we are proud of our history as a wealth management technology specialist. We’ve made a significant investment in future-proofing our architecture, by creating an unbeatable combination of long-term industry expertise and next-generation modern technology to support the needs of current and future clients. Our innovation is keeping us at the forefront of the change curve, delivering new functionality and digital, scalable solutions that will improve the wealth management experience for providers, advisers, and their customers now and in the future.”
Wealth & Finance International is a UK-based publication covering global financial services and wealth management. The FinTech Awards, now in their seventh year, recognise the innovators, top performers, and trendsetters within financial technology. Wealth & Finance International creates a shortlist through in-house research and industry nominations before a panel of expert judges chooses the winner in each category.
The FinTech Award follows GBST’s recent inclusion in the global WealthTech100 list for the fourth consecutive year – featuring the world’s most innovative companies in the WealthTech sector.
Composer offers a comprehensive suite of solutions to streamline the administration of wealth management products from the distribution channel through to the back-office. The client-centric fully upgraded SaaS platform allows a single view of the customer over multiple product holdings and enables organisations to consolidate business onto a single technology platform driving operational efficiencies and reducing risk.
Read more about GBST’s wealth management administration platform, Composer.
Posted in: Wealth Management Administration