Fintech giant GBST has expanded its footprint globally with the launch of wealth management administration platform Composer in the UAE.
It will be suitable for new employee workplace savings schemes, fund platforms, wealth management and insurance providers.
The firm said that regulatory changes in the country such as BOD-49 and improved employee workplace saving schemes have made it “closely align with existing UK regulations”.
It added that expanding its wealth management product offering to the Middle East and appointing local representation was a “logical step in the company’s next phase of growth and expansion”.
David Simpson, head of Emea at GBST, said: “We are continuing to see price and margin squeezes making it even more important to focus on reduction in the total cost of technology ownership.
“Our wealth management administration platform has undergone an impressive technology transformation in order to support the future growth and evolution of financial services organisations, while ensuring the need for operational efficiency and risk reduction are met.
“We’ve taken over 30 years of product and business functionality and invested heavily in the underlying technology stack and user experience to bring a globally accessible, digitally and cloud enabled, secure, compliant, and scalable solution to the Middle East region.”
