back Back

GBST’s wealth management administration platform launches in UAE

By Leandra Monteiro

November 17, 2022

  • Composer
  • Employee Savings
  • GBST
Share

GBST, wealth managementGBST has expanded its footprint with the availability of its wealth management administration platform, Composer, in the UAE, suitable for new employee workplace savings schemes, fund platforms, wealth management and insurance providers.

The Middle East region has recently introduced BOD-49 regulatory changes, where all fees must be explicitly shown to the customer, and employee workplace saving schemes that both closely align with existing UK regulations.

According to the latest Insight Discovery Middle East Investment Panorama (MEIP) report, there has been a 56% increase in the usage of fund platforms in the UAE over the past year, a trend that the UK has experienced over the last 10 years. As a leading UK technology provider, expanding its wealth management product offering to the Middle East and appointing local representation was a logical step in the Company’s next phase of growth and expansion.

Head of EMEA at GBST, David Simpson, said, “We are continuing to see price and margin squeezes making it even more important to focus on reduction in the total cost of technology ownership. Our wealth management administration platform has undergone an impressive technology transformation in order to support the future growth and evolution of financial services organisations, while ensuring the need for operational efficiency and risk reduction are met.”

“We’ve taken over 30 years of product and business functionality and invested heavily in the underlying technology stack and user experience to bring a globally accessible, digitally and cloud enabled, secure, compliant, and scalable solution to the Middle East region. We’ve managed to lower the total cost of ownership through the incorporation of microservices, open integration and APIs, auto-scaling, automated testing and deployment, and true platform agility. According to a leading independent consultancy, Composer has the widest range of investment products across multiple distribution channels able to be administered on a single platform.”

Composer is well suited to the Middle East market, helping customers launch new investment platforms or qualifying schemes for employee savings. It is a robust SaaS technology platform for retail investment solutions across advised, direct, and workplace distribution, and across its current APAC and EMEA client base, already helps customers meet their regulatory responsibilities.

Previous Article

November 17, 2022

Pidgin and OSSNA partner to help financial institutions offer faster payments

Read More
Next Article

November 17, 2022

Regnology buys Belgian RegTech b.fine

Read More






IBSi Daily News Analysis

UK, Bank

July 12, 2024

Composer

Global securities lending revenue sees sharp 16% decline to $2.53bn in Q2 2024, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 12, 2024

SaaScada & Partes sign embedded finance partnership in Switzerland

Read More

July 12, 2024

Finastra completes new SIC instant payments readiness project

Read More

July 12, 2024

GoCardless & ICE InsureTech to offer faster payments to insurance firms

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
Wealth Management & Private Banking Systems Report Q2 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024