GBST extends partnership with Novia Financial 25 July 2022UK Reporter: John Savage
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International technology provider GBST has extended its technology partnership with Novia Financial (Novia).
Novia is an investment service based in Bath, England and GBST’s longest-standing UK client.
Following the contract renewal, GBST will continue to provide Novia’s core technology needs via its Composer solution.
Composer is an administration platform that helps investment platforms, managed funds and pensions ensure regulatory compliance.
The agreement extends the long-term relationship, which began in 2008 when Novia first launched its wealth management service using GBST’s front and back-office systems.
The continued partnership ensures that Novia’s growth ambitions are underpinned by a robust administration platform as it looks to scale assets and client numbers through technology, says GBST.
Commenting on the extended mandate, David Simpson, head of Europe, Middle East and Africa at GBST, says: “As one of our first clients in the UK, we are proud to extend our long history with Novia and continue to power its wealth platform as it moves to the next stage of its development.
“We are continuing to invest in new capabilities that lower costs and improve efficiency and compliance while supporting our client’s growth and innovation.”
Patrick Mill at Novia, comments: “The platform market is at an inflection point. If it is to support adviser firms in meeting the evolving needs of their clients, it is imperative that platforms find ways to offer more flexible technology solutions that are increasingly digital, data-driven, and heavily integrated into other technologies.”
He adds: “By marrying GBST’s excellence in custody, administration and application programming interface-enabled microservices, and overlaying our own proprietary technology for our adviser interface, we can provide security, differentiation, and innovation with superior customisation.”
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