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Fintech giant GBST has expanded its global footprint with the launch of wealth management platform Composer in the UAE.
It will apply to new employee workplace savings plans, fund platforms, wealth management and insurance providers.
Regulatory changes in the country, such as BOD-49 and an improved workplace savings scheme for employees, make it “closely aligned with existing UK regulations”, the company said.
It added that expanding its wealth management offerings to the Middle East and appointing a local representative was “a logical step for the company’s next phase of growth and expansion”.
David Simpson, head of Emea at GBST, said: “We continue to see a squeeze on prices and margins, making it all the more important to focus on reducing the total cost of technology ownership.
“Our wealth management management platform has undergone an impressive technology transformation to support the future growth and growth of financial services institutions, while ensuring that the need for operational efficiency and risk mitigation is met.
“We have over 30 years of product and business capabilities and have invested heavily in the underlying technology stack and user experience to bring globally accessible, digital and cloud enabled, secure, compliant and scalable solutions to the Middle East .”
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