This collaboration brings together GBST's industry-leading Composer wealth management administration SaaS platform and Wipro's expertise in outsourced administration and contact center services.
The joint offering includes technology, cyber, risk, and business operations, addressing a critical need in the industry where managing legacy IT systems and multiple service providers can be challenging. By consolidating administration services through a single, integrated platform, companies can streamline operations, reduce complexity, and enhance service delivery to their customers. The partnership aims to accelerate the industry's shift towards modern IT environments, improving operational efficiency, reducing costs, and enhancing customer experience.
"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.”
Chris Smith, Chief Executive Officer - Australia and New Zealand, Wipro Limited, 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."
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