GBST (ASX:GBT), the ASX-listed global provider of technology solutions to the financial services industry, saw one of its UK clients honoured at the recent 2013 Platforum Awards in London. The Platforum is a specialist platforms consultancy.
Aegon’s ARC (Aegon Retirement Choices) platform won ‘Best Workplace Platform’ and ‘Best Innovation’ for its bringing together of corporate and retail platform propositions in one seamless package. GBST’s Composer system powers Aegon’s proposition.
ARC is unique in the UK at the present time; all other systems require a client to be moved from one platform or product set to another. Aegon’s platform allows a member leaving a group pension scheme, for example, to carry on their pension, ISA or general investment accounts with absolutely no interruption or need to transfer.
Commenting, Rob DeDominicis, CEO of GBST Wealth Management said, “We couldn’t be happier for Aegon and are proud to have supplied the technology that has helped them win these awards and especially the innovation award. Composer is built on a timeline of innovation and we’re delighted to see it recognised in this way.“
Holly Mackay, MD of The Platforum, wrote in her summary of the awards that, “We think the importance of this development will stand the test of time and this innovation will be flagged on any chart which tracks the development of UK platforms.”
Adrian Grace, CEO of Aegon UK commented, “To be recognised by the Platforum as the Leading Innovation on a Platform and Best Workplace Savings Platform is a fantastic achievement. It endorses the superior technology, supplied by GBST, and innovation we’ve brought to the market, which is out-pacing more ‘traditional’ platforms.”
Composer offers a single fully integrated system to administer retirement and savings products, managed funds and structured products. This client-centric solution has delivered cost savings to product and platform providers alike and its track record within the UK financial services sector has generated sound levels of success in this demanding market. Clients using Composer enjoy a solution which is highly configurable and based on a single set of code, meaning that less build is required for each client. This, along with extensive straight-through processing (STP) capability, cuts the time and cost of development and as well as ongoing maintenance and developments for new functionality, regulatory change and more.