GBST, the global financial services technology provider, is providing the technology behind VitalityInvest, the new investment and retirement proposition announced to the market last week.
The VitalityInvest proposition, which extends Vitality’s existing life and health offering, is based on the principle of shared value – which generates economic value for all stakeholders through positive, long-term behaviour change – and aims to close the UK ‘savings gap’ through solutions that bring together investments and wellness. Through its Investment Booster, Retirement Booster and Healthy Living Discount, VitalityInvest incentivises simple behaviour changes to encourage people to live healthier lives and save for the retirement of tomorrow.
VitalityInvest includes a stocks and shares ISA, a junior ISA and a retirement plan, and is supported by GBST’s award winning Composer® platform technology. In addition, GBST has delivered a new responsive web portal based on Catalyst, its new customisable digital platform to provide a rich and engaging experience for Vitality’s adviser and end investor community.
Catalyst provides advisers with the ability to onboard and service their customers, with access to illustrations, applications, transfers, client management, engaging financial planning tools and document storage, all accessed, delivered, actioned and stored via a simple, secure online interface. End investors can also self-service on their account, with access to their daily valuations, holdings and all documents relating to their investments through their desktop, tablet or phone.
Catalyst will enable Vitality to integrate data from its existing health and protection systems with the Composer® platform to provide advisers with consolidated client investment and policy view and straight through processing. There is also a single sign-in process across Vitality’s investment, life and health propositions to create a simple and easy adviser and customer experience with smart elastic search capabilities to enable the adviser to service all their customers across all three propositions from one experience.
David Simpson, Head of EMEA at GBST, commented: “We are proud to be Vitality’s strategic technology partner on this initiative. It has been a great project to be involved in over the past 12 months, allowing us to really push innovation and think differently in terms of approach. Vitality is also the first UK user of our new digital proposition, Catalyst, and we are excited to showcase the combination of leading digital design capability utilising the latest innovations in technology and proven integration services with Composer® and other policy administration systems to create a seamless solution.
“We look forward to working with Vitality as it continues to develop its investment proposition with new features and functionality repeating the successes of its Life and Health business where it has become the leading provider over the last 24 months.”
Justin Taurog, Managing Director, Sales & Distribution at VitalityInvest and VitalityLife, commented: “We are delighted to have GBST as the strategic technology partner for our new proposition, VitalityInvest. GBST’s innovative solutions will enable us to deliver a rich and engaging customer experience and allow advisors to seamlessly access our portfolio of investment, life and health products.”
At Vitality, our approach is to only ever enter a market if we are confident that we can make a positive difference to our members’ lives. VitalityInvest is designed to incentivise positive behavioural change and bring together saving and wellness. By changing behaviour, we produce economic and health benefits that are good for our members, good for advisers, good for us and good for society.”
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