GBST, a number one world supplier of wealth administration and recommendation options expertise, has been named as one of many world’s 100 most progressive corporations for the fifth consecutive 12 months within the International WealthTech 100 checklist.
“2023 was an enormous 12 months for GBST’s development and innovation,” Robert DeDominicis (pictured), International CEO of GBST mentioned. “We went from being a worldwide WealthTech firm to a number one participant within the AdviceTech area as effectively. We made two acquisitions to additional our footprint: a digital and hybrid providing from Recommendation Intelligence and the Salesforce-based advisor follow administration providing, WealthConnect. With the worldwide market present process important regulatory modifications and lots of recommendation professionals working off legacy expertise, the timing of each acquisitions was excellent for market disruption.
“Our aim is to offer cutting-edge AdviceTech that helps remove the recommendation hole being skilled globally by considerably decreasing the price of recommendation. In doing so, we hope to make high quality recommendation extra accessible to a broader vary of individuals. Our options are designed to streamline recommendation administration and empower recommendation professionals to effectively handle shopper relationships, facilitate each digital and face-to-face recommendation engagements, and handle administrative duties simply.”
Final 12 months, GBST skilled additional natural development, onboarding greater than 20 purchasers to its Equate product. Equate supplies on-line instruments and calculators to credit score unions, banks, lending establishments and different monetary companies organisations. GBST additionally renewed a five-year contract with a number one Australian Tier 1 monetary companies organisation for its wealth administration administration platform, Composer, and secured a big pension supplier within the UK, additionally for Composer. Further wins included two giant custodian corporations for GBST’s Australian tax merchandise.
GBST additionally expanded its footprint by launching within the Center East, the place modifications in office pensions and financial savings laws have resulted in suppliers anticipating a big development in funds underneath administration. Consequently, it has meant that wealth administration organisations within the area are actually expertise options to help with this compliance.
Continuous enchancment is vital to GBST’s success, and it continues to put money into and improve its product performance, specializing in its Software program as a Service (SaaS) providing. This contains defining SaaS tiers to assist purchasers select an appropriate service at an acceptable value, whereas making certain standardised inside processes for supply.
“With an growing want from trade stakeholders for better cybersecurity in wealth administration, we additionally launched into a cybersecurity resilience program to make sure our governance measures are developed and aligned to the best stage of worldwide recognised requirements,” commented Isabel Sanchez, GBST’s Chief Know-how Operations Officer.
GBST accomplished 2023 with a celebration of its success acknowledging its institution in 1983, and 40 years of inspiring wealth innovation.
2024 is ramping up simply as shortly. GBST is specializing in enhancing Composer’s retirement answer to supply additional flexibility for present pension performance that helps shopper product wants, and the growth of annuities, bonds, and multi-currency for brand spanking new territories.
With GBST’s rising shopper base, service is vital. “We’re dedicated to working and constructing belief with our purchasers. Making certain even better success for them as they profit from additional use of API’s, elevated automation, operational effectivity, and a shift to our SaaS supply mannequin – will enable them to concentrate on their enterprise,” mentioned David Simpson, GBST’s Head of EMEA.
