Home Insights Meet Dave Simpson, our champion of customer-centricity

Meet Dave Simpson, our champion of customer-centricity

Blog, Composer, GBST insights, UK, Wealth management administration 29/05/2024

David Simpson is the Head of EMEA. He oversees GBST’s EMEA operations and believes great customer relationships boil down to fostering a true partnership mindset. “The most successful organisations are the ones deeply connected to their customers.”

What is your role at GBST and what do you enjoy most about it?

I lead the EMEA region for GBST, overseeing our operations and driving growth. One of the things I enjoy most is the daily interaction with our teams and collaborating to move our strategy forward. I also really enjoy engaging with clients and prospects, delving into their challenges, and exploring how our tech solutions can propel their business success.

You have a great relationship with GBST clients and partners. What’s the key to maintaining these relationships over time?

It all boils down to fostering a true partnership mindset. When you approach your client and partner interactions as collaborative ventures, treating their success as your own, you naturally sync up and function seamlessly together. This shared approach enables and ensures a supportive culture where growth is mutual, and progress is collective.

Understanding each other’s challenges is pivotal. By openly acknowledging and addressing these obstacles, you build trust and pave the way for long-term and successful partnerships. Despite inevitable hurdles, the strength of the relationship lies in how effectively you navigate them together, smoothing the path toward shared success. Ultimately for me, it’s all about serving the needs of the customers we both aim to support.

What are the factors that have contributed to the continued and successful growth of EMEA?

Building and nurturing client relationships is key, where you’re working hand in hand to grow both your business and theirs. This alignment creates trust, which is the cornerstone of any strong relationship.

The most successful organisations are the ones deeply connected to their customers. That’s why we prioritise spending time understanding our clients’ businesses inside out. We’re there to support their growth journey, tackling challenges together.

In today’s fast-paced world, staying ahead in business means staying ahead in technology. That’s why we’re always investing in cutting-edge tech services. Because when we win, our clients win too.

What are some of the key trends you’re seeing amongst your UK clients?

Everyone is challenged with costs, efficiency, profitability, growth, and service demands – these seem to be consistent themes. However, the current focus lies in finding ways to underpin and enable them.

Over the past few years, there has been a noticeable shift towards digitisation, yet there is still have a long way to go as an industry in fully embracing this transformation. The reality is that many organisations still struggle with fragmented infrastructure. Rather than solely prioritising distribution or vertical integration, there is an increasing recognition of the need for horizontal integration, bringing together different infrastructure components to increase effectiveness.

The starting point should be to establish a robust data model, and we’re seeing increased attention directed to this aspect. People are beginning to recognise the value of a single data repository where data is amended, enriched, and acted upon in real-time. Only with this framework in place can the potential of advanced technologies like AI be fully realised.

A key current challenge that many of our clients are grappling with, and that we are actively engaging in assisting them with, is gaining control of their data and managing its transformation to yield meaningful and valuable outcomes.

How are the current changes in regulations impacting GBST and its’ customers?

Two specific regulatory aspects stand out as important to mention. Firstly, Consumer Duty. The emphasis on achieving and delivering positive customer outcomes is a focus for the entire industry. It is leading to a significant shift in our thinking and actions, a change that’s both understandable and necessary.

Another notable challenge where we see many organisations struggling and seeking assistance, is around advice boundaries and supporting customers entering retirement. This is a significant area that requires more attention. We hope that the conclusion of regulatory work in this space and the frameworks put in place will deliver more positive experiences for consumers reaching retirement age. This will enable service providers to offer increased and tailored support, utilising technology to facilitate informed drawdown and guaranteed income choices.

A large portion of people in the UK require advice, but the majority cannot afford it. I believe the responsibility falls on those within the industry to provide solutions to enable better informed decision making and more favorable outcomes that allow for a more comfortable life in retirement.

What do you enjoy doing outside of work?

I’m married with three young adult children, so outside of work, my attention is focused on spending family time together. It’s very important for me and my wife.

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