GBST (ASX:GBT), the ASX-listed wealth management and broking technology specialist, is the technology provider behind the AEGON Retirement Choices (ARC) retail and workplace platforms. The workplace version of ARC was launched by AEGON earlier this week.
The platform uses GBST’s flagship Composer Back Office and ComposerWeb functionality. Key to Composer’s success is the power it gives clients to bring new propositions to market quickly and at a cost that is both lower and more controllable than its rivals.
The retail version of ARC was delivered in 9 months from inception, and the workplace platform took a similar time to develop. The project was brought in on time and on budget.
Composer offers a single fully integrated system to administer managed funds, structured products and retirement products. This client-centric solution has delivered cost savings to fund administrators and wealth managers alike and its recent introduction to the UK financial services sector has generated sound levels of success in this demanding market. Recent successes for Composer include AEGON, AJ Bell and Novia.
Clients using Composer enjoy a platform which is highly configurable and based on a single set of code, meaning that less build is required for each client. This cuts the time and cost of development and also of ongoing maintenance and developments for new functionality, regulatory change and more.
Commenting, Rob DeDominicis said, “It has been a pleasure to work with AEGON throughout this project and we’re excited to see their workplace savings platform enter the market. The development went well and GBST has proved once again that building a platform doesn’t have to take years and cost tens of millions of pounds. Technology is meant to make business easier, not more painful.”