DBT Bureau
Bengaluru, 18 June
Wipro and GBST, a leading provider of wealth management and advice solutions technology for the financial services industry, have entered into a strategic partnership, the company said in an exchange filing on Tuesday.
This collaboration is aimed at delivering end-to-end administration services for superannuation, wealth, and pensions companies transitioning from legacy IT environments, the company said.
Under this partnership, GBST’s Composer wealth management administration SaaS (Software-as-a-Service) platform and Wipro’s expertise in outsourced administration and contact centre services, will be available as one platform to customers.
By consolidating administration services through a single, integrated platform, companies can streamline operations, reduce complexity, and enhance service delivery to their customers, it added.
“This announcement marks a significant milestone for the financial services industry,” said Robert DeDominicis, Global Chief Executive Officer of GBST.
“We see the global market looking for alternative fully outsourced solutions. Under this partnership arrangement, clients can benefit from a modern, best-of-breed, SaaS-based, scalable wealth management administration platform, with IT and back-office services supported by a proven digital transformation partner in Wipro,” he added.
Commenting on the collaboration, Chris Smith, Chief Executive Officer – Australia and New Zealand at Wipro said, “We are excited to collaborate with GBST to drive innovation and transformation in the superannuation and wealth management space. Together, we will enable organisations to modernise their operations, leverage advanced technologies like Generative AI (GenAI), and deliver superior outcomes for their members.”
