6 September 2018
GBST, provider of wealth administration software, has seen UK assets on its Composer® platform rise by over 50% to approximately £120bn and active accounts increase by 72% to 2,265,300 in the six months to end of June 2018. The increase in assets continues to be fuelled by the strong asset growth of GBST’s UK clients as well as the migration of books of business.
Assets in pension wrappers, covering both accumulation and at retirement proposition, now account for 65% of assets on Composer®, compared to 48% across the market as a whole according to the lang cat’s Q2 2018 quarterly update. This illustrates GBST’s strength in at retirement technology with clients able to easily configure Composer®’s functionality to deliver innovative pension freedom retirement solutions.
David Simpson, Head of EMEA at GBST commented: “We are pleased to support the continued success of our clients as they growth assets under management and accounts. The strength and scalability of Composer® and our single code base which allows continuous updates to cover product innovation and changes in regulation, provides our clients with a secure platform on which to build their businesses. Composer®’s modular design also gives clients the flexibility to add new services as their propositions evolve in line with their own timescales and individual business plans.
“Alongside our award-winning Composer® back-office administration technology, we have extended our proposition with the launch of Catalyst, a state of the art digital front-end that can be integrated with Composer® and non-GBST systems to provide a single view of the end-investor’s policies. With new clients launching in the second half of the year and further enhancements planned to our core back office administration to increase Composer®’s straight-through-processing capability, we are well placed to continue to grow market share through-out 2018 and beyond.”
the lang cat
Jenette Greenwood, PR Director
+44 (0) 7710 392303
GBST (ASX: GBT), provides global technology services to the financial services industry, addressing our clients’ constant needs for innovation, competitiveness and responsive IT that truly enables business. Listed on the Australian Securities Exchange, GBST has offices throughout Australia, London, Hong Kong and New York as well as operations in Paris and Singapore.
About GBST Composer®
GBST Composer® is a full service global software platform for Platforms, Wraps, Unit Trusts, ISAs, OEICs, SIPPs, and Pensions. Designed as a single, client centric application, Composer® is a complete, intuitive and flexible solution. Its architecture meets the demanding requirements of platform providers and fund managers by providing business rule driven functionality to support legislative change, flexible administration procedures and innovative product design.