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 World WealthTech 100 checklist.
“2023 was an enormous 12 months for GBST’s development and innovation,” Robert DeDominicis (pictured), World CEO of GBST stated. “We went from being a worldwide WealthTech firm to a number one participant within the AdviceTech house as nicely. 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 vital regulatory adjustments and plenty of recommendation professionals working off legacy expertise, the timing of each acquisitions was good for market disruption.
“Our objective is to supply cutting-edge AdviceTech that helps get rid of 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 consumer 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 shoppers to its Equate product. Equate offers 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 massive custodian corporations for GBST’s Australian tax merchandise.
GBST additionally expanded its footprint by launching within the Center East, the place adjustments 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 shoppers select an acceptable service at an acceptable price, whereas making certain standardised inner processes for supply.
“With an growing want from trade stakeholders for higher 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 Expertise 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 resolution to supply additional flexibility for present pension performance that helps consumer product wants, and the enlargement of annuities, bonds, and multi-currency for brand spanking new territories.
With GBST’s rising consumer base, service is vital. “We’re dedicated to working and constructing belief with our shoppers. Guaranteeing even higher 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 permit them to deal with their enterprise,” stated David Simpson, GBST’s Head of EMEA.
