GBST Holdings Limited (ASX: GBT, GBST), a global provider of securities transaction and wealth management platforms for the financial services industry, today announce a powerful alliance with Xchanging plc (LN: XCH, Xchanging), a business technology and services provider.
Together both organisations will align the world-class GBST software suite, with the deep Xchanging BPO scalable processing capability, building an innovative business platform for the world’s leading wealth management and capital market players.
Robert DeDominicis, Chief Executive Officer, GBST Wealth Management said: “The industry continues to evolve and this creates the opportunity for innovation and the ‘better together’ approach. Our reputation for delivering robust, functionally advanced software and scalability to meet business demands is a complementary match with the dominance of Xchanging as a BPO expert in the finance marketplace. Our alliance is capable of delivering significant benefits for the global wealth management sector.”
Tahir Adam, Chief Operating Officer, Xchanging Financial Services, comments: “Today’s wealth trading, transaction and administration markets are driving demand for innovative tools to create sustainable growth. We believe that the time is right for the industry to accept multiple business models to ensure that they have access to world class technology and a scalable processing capability.”
Xchanging provides business processing, technology and procurement services internationally for customers across multiple industries. Its Financial Services division will deliver on the strategic alliance with GBST. The alliance will strengthen the firm’s ability to deliver solutions in the wealth management space across the wealth management and capital markets spectrum - including advisory services, digital platforms, mid-office capabilities in areas of trade confirmations and broker commissions, and to back-office activities such as settlement and accounting.
GBST is leading the evolution of next generation software where user empowerment, easy configurability and intense flexibility apply - providing the catalyst for new products and services that create sustainable competitive advantage. This agreement will leverage GBST’s globally proven Syn~® Capital Markets platform - a multi-entity, rules and workflow driven solution; all with no downtime and no vendor dependency - and GBST Composer®, a single, client-centric administration application for the wealth management industry.
GBST and Xchanging are investing time to leverage opportunities within their existing clients and expand into new segments of the capital markets securities processing and wealth administration sectors across Australia, the UK, Asia and the USA.