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GBST signs platform technology deal with Fidelity

Platform technology provider GBST has tied up with Fidelity Worldwide Investment to provide administration and registration through its Composer platform.

An announcement made on the Australian Stock Exchange this morning confirmed GBST would provide its platform technology to Fidelity Worldwide Investment.

The announcement says: “GBST today confirms that it has signed a long term contract with Fidelity Worldwide Investment for the delivery of its flagship GBST Composer administration and registry solution to the Fidelity business within the UK.

GBST Wealth management chief executive Rob DeDominicis says: “GBST is enjoying strong momentum at the present time. Our recent delivery for Aegon and now in this new appointment by Fidelity Worldwide Investment shows we are wells et to continue that momentum.”

GBST currently provides underlying technology for the Novia, AJ Bell and Aegon Retirement Choices platforms.

Investment Quorum chief executive Lee Robertson says: “I think most firms are looking at outsourcing parts of technology to strengthen their proposition and it is a trend that is set to continue.”

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