SYDNEY and LONDON, 24 June 2015 – Xchanging plc, the business technology and services provider, announced today that its Financial Services division has formed a strategic alliance with GBST Ltd, a supplier of award-winning software and services to the global financial services industry.
The new agreement will bring together Xchanging’s Business Processing Services (BPS) expertise, and GBST’s advanced technology offerings, to deliver a powerful end-to-end suite of efficient, integrated wealth management solutions for the international financial services sector.
This joint initiative will leverage best of breed processing and operations administration services for the wealth management market, adding specialised domain expertise to GBST and Xchanging’s Financial Services businesses. Customers will be able to benefit significantly from end-to-end integrated Wealth offerings in a reduced overhead, operationally mature and cost effective model.
For Xchanging, the alliance will strengthen its offerings for the wealth management sector – including advisory services and digital platforms, as well as mid-office capabilities in the areas of trade confirmations and broker commissions, and back-office activities such as settlement and accounting.
GBST is leading the evolution of next-generation software, focussed on user-empowerment, easy configurability and enhanced flexibility, providing the catalyst for new products and services that create sustainable competitive advantage. This agreement will utilise GBST’s globally proven Syn~® Capital Markets platform – a multi-entity, rules and workflow solution, which provides 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 in leveraging opportunities within their existing clients and to expand into new segments of the capital markets, securities processing and wealth administration sectors across Australia, the UK, Asia and the US.
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. GBST is the trusted name in technology-based breakthroughs for the world’s major financial markets.
Robert DeDominicis, Chief Executive Officer, GBST Wealth Management, said: “We have established a reputation for delivering high quality, robust, functionally advanced software, which is scalable to meet business demands. Combined with Xchanging Financial Services’ dominance as a BPS partner in the finance marketplace, we see this complementary alliance as a significant development for the global wealth management sector.”
For further information, please contact:
Global PR Manager, Xchanging
Mobile: +44 (0)7920 781 736
What we are
Xchanging provides business processing, technology and procurement services internationally for customers across multiple industries.
What we do
Xchanging brings innovation, thought leadership and passion to its customers’ businesses so as to enhance performance and value. Our values are embedded into everything we do.
What we want to be
Xchanging wants to be regarded as the best provider in its chosen markets by delivering services that are recognised for outstanding quality, reliability and innovation.
Xchanging Financial Services
With a base of more than 200 buy-side and private banking customers across Europe, Xchanging has proven industry expertise and global delivery capability, providing cost-effective business processing and technology operations.
GBST is a provider of software and services to the global financial services industry. It has more than 25 years experience delivering innovative, robust and reliable solutions for capital markets, securities processing and wealth administration. Established in Australia, where over 90% of adviser investment business is carried out through wraps, GBST is the leading provider of wrap platform solutions in its local market with in excess of A$250bn under administration.