Platform technology provider boasts soaring assets

Platform technology provider boasts soaring assets

Assets held on platforms using GBST technology increased to more than £120bn in the six months to the end of June 2018, an increase of more than 50 per cent.

The company’s Composer platform technology - used by Novia and Investec - had 2,265 million clients at the end of June, via the various platforms that use the service.

The company stated asset growth of its underlying clients and winning new books of business has boosted its assets.

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Assets in pension wrappers, covering both accumulation and at retirement proposition, now account for 65 per cent of assets on the Composer platform, compared with 48 per cent across the market as a whole according to consultancy firm The Lang Cat's market study covering the second quarter of 2018.

David Simpson, head of Europe, the Middle East and Africa (EMEA) at GBST, said: "We are pleased to support the continued success of our clients as they growth assets under management and accounts.

"The strength and scalability of Composer and our single code base which allows continuous updates to cover product innovation and changes in regulation, provides our clients with a secure platform on which to build their businesses.

"Composer's modular design also gives clients the flexibility to add new services as their propositions evolve in line with their own timescales and individual business plans.”