GBST named in top 100 most innovative WealthTech companies in the world for the third year running
For the third consecutive year, GBST has been named in the top 100 most innovative companies across the wealth and asset management industry, cementing its position as a global leader. The annual WealthTech100 list recognises the top technology companies that have had the most significant impact on the global asset management, wealth management and financial advice sectors, and which can be classified as world leaders in innovation.
Over the past year, GBST has once again continued to invest heavily in its technology advancement program, to transform underlying product architecture, development, and deployment practices. This has ensured it can continue to provide innovative solutions to solve industry challenges, increase efficiencies, improve automation, decrease operating costs, and provide more engaging client experiences to deliver better outcomes.
Robert DeDominicis, CEO at GBST, said, “While the past year has been challenging due to continued affects from the pandemic and a team that spent a significant amount of time working remotely, we have continued to operate successfully, winning new business, and supporting our long-term clients in keeping their vital back, middle and front-office financial systems running smoothly.
“At the same time, we have invested significantly in transforming the underlying technology for our Wealth Management administration platform, Composer, utilising cloud infrastructure to modernise the user experience, deliver additional functionality for our clients and their end customers and deliver a scalable solution for financial services providers to deliver growth now and in the future.
“Being recognised in the WealthTech100 list again is testimony to the quality of our market-leading solutions, the delivery of our services, and the incredible experience and dedication of our teams globally,” he said.
There are strong structural growth drivers in the global wealth management space which are set to significantly increase GBST’s addressable market. Growing competition and higher regulatory burdens are making technology and innovation increasingly central for the future of the industry, and with increasing interest in GBST’s wealth management solutions, and a growing pipeline of opportunities, this is evident.
DeDominicis said active accounts on GBST’s wealth management platform, Composer, experienced double-digit growth in 2021 to reach over 5.5 million globally and GBST’s technology is trusted to underpin the wealth administration of leading investment platforms, pension schemes, fund managers and superannuation funds across Europe, North America, Australia, and New Zealand.
“Our acquisition by Anchorage Capital Partners in December 2021 opens a new and exciting chapter for GBST, building on the strong foundations of our almost four decades in the wealth management sector. The support from Anchorage will allow us to achieve our ambitious expansion plans and continue to innovate and further develop new cloud-based solutions for existing and prospective clients,” said DeDominicis.
