Platform technology provider GBST has agreed a strategic partnership with the outsourcer it works with for client Retirement Advantage.
For Retirement Advantage, outsourcer Equiniti provides customer and technology services while GBST provides the platform for Sipps and annuities.
Through the strategic partnership the two businesses will look to work together in a similar way for other companies.
GBST Europe, Middle East and Africa head David Simpson says: “We are seeing increasing demand for outsourcing of both technology and people, with the aim of improving operating efficiency and reducing servicing costs.”
Equiniti financial services head Enrique Sacau says firms want to run their operations and technology more efficiently.
He says: “We believe life and pensions and wealth companies are ready for an alternative to the traditional, often overstretched, business process outsourcers operating in these markets.”
GBST software sits behind adviser platforms Novia, AJ Bell, Aegon and Alliance Trust Savings, as well as the newly launched Vitality Invest platform.
GBST has also refreshed its front-end technology, with Vitality the first to run its Catalyst software. Catalyst is an upgrade to Composer Web and will eventually replace that product.