Wipro has partnered with GBST, a technology company for wealth management worldwide, to enhance administrative services in superannuation, wealth management and pensions especially among organizations that are moving from their outdated IT systems.
Within this framework, GBST’s advanced Composer wealth management administration platform will be provided through the software as a service (SaaS) model while Wipro provides wide-ranging services in outsourced administration along with contact center. Overall, they attempt to propose the complete package of technology, cyber security as well as risk management and business operations. On the other hand, such a collaborative effort aims at addressing one of the most critical challenges faced by industry where firms grapple with multiple service providers and legacy IT systems.
During this partnership signing ceremony at Sydney’ Opera House last week, Robert DeDominicis who is GSBT’s Global CEO noted that financial services industry particularly requires fully outsourced solutions globally. Additionally, he mentioned what benefits could be offered by Wipro being an expert in digital transformation from modern scalable SaaS platform per se.
Chris Smith, CEO for Australia and New Zealand at Wipro Limited, said that he was excited about the partnership with GBST. He reemphasized the fact that together they were committed to driving change in superannuation and wealth management industry. Smith however noted that the collaboration targets reimaging of operations, using technologies such as Generative AI (GenAI) and ensuring better customer outcomes.
Both GBST and Wipro have significant experience in servicing global markets for wealth management, superannuation, and pensions. They expect to hasten adoption of modern IT environments by this sector through their association. These advancements are aimed at improving operational efficiencies, reducing costs, enhancing customer satisfaction metrics as well as enabling innovative retirement income solutions.
The partnership between Wipro and GBST is a transformative step in the financial services sector’s approach to administration services; it represents a shift towards more nimble and client-focused operational models.