Wipro to provide end-to-end solutions for superannuation, wealth and pension services
Jun 18, 2024
New Delhi [India], June 18 : Wipro a technology services and consulting company have entered into a strategic partnership with GBST, a wealth management and technology advising company on Tuesday.
The partnership aims to deliver end-to-end administration services for superannuation, wealth, and pensions companies that are transitioning from legacy IT environments, the company informed the stock exchange in a filing.
The Wipro informed that this partnership brings together GBST's Composer, a Software-as-a-Service (SaaS) platform for wealth management administration with Wipro's expertise in outsourced administration and contact centre services. The collaboration aims to a single offering that includes technology, cyber, risk, and business operations.
The collaboration addresses a critical need of the IT industry, where organisations often face challenges in managing legacy IT systems and multiple service providers simultaneously.
The partnership's objective is to streamline operations, reduce complexity, and enhance service delivery for client companies by consolidating administration services onto a single, integrated platform.
"We see the global market looking for alternative fully outsourced solutions. Under this partnership arrangement, clients can benefit from a modern, best-of-breed, SaaS-based, scalable wealth management administration platform, with IT and back-office services supported by a proven digital transformation partner in Wipro" said Robert DeDominicis, Global Chief Executive Officer of GBST.
Both the companies, GBST and Wipro have experience serving the wealth, superannuation, and pensions markets globally.
The combined efforts by both companies aim to accelerate the transition of the industry towards modern IT environments, significantly enhancing operational efficiency, reducing costs, improving customer experiences, and enabling the development of innovative retirement income solutions.
"We are excited to collaborate with GBST to drive innovation and transformation in the superannuation and wealth management space. Together, we will enable organisations to modernise their operations, leverage advanced technologies like Generative AI (GenAI), and deliver superior outcomes for their members" Chris Smith, Chief Executive Officer - Australia and New Zealand, Wipro.
