GBST Signs Long Term Contract Extension with Baillieu Holst

Business success from implementation of 2012 GBST SharesTM and GBST Front OfficeTM, plus proof of system reliability and scalability, secures extension of end-to-end managed services contract GBST Holdings Limited (ASX: GBT), “GBST”, a global provider of securities transaction and fund administration software for the financial services industry, has signed a long term contract extension with

Editorial Team
February 8, 2016
3 minutes

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BankingTech
Digital Banking

Business success from implementation of 2012 GBST SharesTM and GBST Front OfficeTM, plus proof of system reliability and scalability, secures extension of end-to-end managed services contract

GBST Holdings Limited (ASX: GBT), “GBST”, a global provider of securities transaction and fund administration software for the financial services industry, has signed a long term contract extension with leading, independent financial advisory firm, Baillieu Holst. The end-to-end managed services agreement will ensure Baillieu Holst continues to benefit from its use of the GBST Shares™ equities clearing and settlement platform and GBST Front Office™ solutions.

In the three years since the Baillieu Holst merged partnership was finalised, the organisation has extended its use of GBST Shares™ across its combined operations. The firm has experienced a growth rate of 50 percent to 33,000 CHESS clients, watched its adviser numbers continue to increase and it has also opened offices in Adelaide and Brisbane. As the GBST Shares™ platform has performed reliably and scaled effortlessly to the task, Baillieu Holst had no hesitation in continuing the relationship with GBST.

Gavin Powell, Baillieu Holst Ltd Managing Director said. “GBST has become integral to the way we operate our entire business. The platform has proven its reliability and scalability, and that it is comfortably able to cope with the changes in scope of our business. And GBST works closely with us on initiatives to keep improving the data we can extract from the system. It was easy for us to continue with them.”

GBST continues to work closely with Baillieu Holst on the development of adviser, front end reporting and technical communications.

“We are differentiated by our superior service and results. So it’s crucial our advisors have best tools. As our core technology platform is outsourced to a trusted partner, we can focus everything on our clients and on identifying the trading opportunities through which we can optimise their wealth. And through excellence we can secure a profitable future for Baillieu Holst,” Powell said.

This broking firm was initially impressed by the GBST Shares™ platform’s rare ability to retain life time balances as it rolled Baillieu Holst’s existing data into the new system, and the ability to transition contract notes from its previous back office into GBST Front Office™. Advisors have immediate and seamless access to their information and can quickly interrogate their entire client base on the fly to identify opportunities.

On a deliberate expansion path, Baillieu Holst’s GBST Shares™ platform has underpinned its growing presence in the Sydney retail banking market as well as its opening of new branches in Queensland and South Australia.

Denis Orrock, Chief Executive, GBST Capital Markets said: “Full service brokerage needs full service capabilities and the integrated benefits of the GBST platform and solutions range is certainly highlighted within the Baillieu Holst operations. Not skipping a beat during the transition of both firms to GBST Shares™, and retaining all data, including enquiries in train, has certainly helped contribute to the positive growth levels of customers and funds under management. Opportunities have certainly been capitalised.”