TPT Retirement Solutions selects GBST’s Composer platform and Wipro to power its Master Trust pension
TPT Retirement Solutions (TPT), the UK’s leading provider of workplace pensions, has selected GBST’s Composer wealth management technology for the administration of its Master Trust pension, and Wipro Limited, to act as TPT’s outsourced administration and transformation partner to drive business growth.
Under the new multi-year contract, TPT’s 400,000 pension members will migrate onto GBST’s Composer technology and will be supported in both the accumulation and drawdown phases with innovative retirement income solutions. As part of this engagement, policy administration and servicing will be conducted on behalf of TPT, by Wipro’s FCA-regulated subsidiary in the UK.
Wipro will set up an end-to-end digital ecosystem, alongside GBST’s Composer platform, to support TPT’s members, employers, and operational staff in driving digital transformation and enterprise simplification. They will deliver superior customer experience through self-service capabilities and AI-powered Smart Operations service delivery.
This agreement with TPT marks the second joint client for GBST and Wipro. The collaboration between GBST’s industry-leading Composer SaaS platform and Wipro’s expertise in transformation and third-party administration services, will help financial services organisations overcome the challenge of managing legacy IT systems, and multiple service providers simultaneously. The partnership provides an alternative fully outsourced end-to-end administration solution that will enhance efficiencies, reduce costs, and improve customer experience.
David Lane, Chief Executive Officer, TPT, said, “We were impressed by the breadth of pension savings and retirement solutions available on GBST’s Composer platform and its focus on automation to drive down operational costs. Moving to Composer will allow us to launch innovative new products as our needs evolve. We are also extremely pleased to partner with Wipro. Its extensive digital transformation coupled with administration experience and expertise is invaluable to enhance our service to employers and members, simplify our operations, reduce operational cost, and support our growth ambitions. Working with Wipro and GBST will enable us to transform the end-to-end member and employer digital experience we provide.”
Omkar Nisal, UKI Managing Director, Wipro Limited, said, "We're delighted to have been selected by TPT to help them on their growth journey by providing end-to-end business administrations services. We will be driving technology transformation along with GBST and delivering further business value. Leveraging our wide-ranging operational excellence, technology and digital transformation expertise, including GenAI technologies, we will work closely with TPT to support their business needs and help them achieve their ambitions.”
David Simpson, GBST’s Head of EMEA, said, “GBST has proven strength and experience in providing pre and at retirement solutions for many major brands and has enabled some of the largest migrations from legacy technology in the UK. We’re so pleased that TPT has selected Composer to support its growth ambitions in the UK market too. The agreement is an important milestone for GBST as we expand further beyond technology provision through our strategic partnership with Wipro to create an end-to-end administration service for wealth management and pensions organisations.”
About GBST
GBST delivers technology and digital solutions to enable, support and scale wealth management and advice organisations globally. Our team of experienced professionals create vital back, middle, and front-office solutions for wealth managers, life and pension companies, stockbrokers, fund managers, investment managers and advisers, as well as offer financial tools and digital services to banks and loan providers. Founded in 1983, GBST works with more than 100 financial brands across Europe, Australia, New Zealand, the US, Canada, and the UAE. Our leading-edge technology supports over 5.5 million investor accounts under administration with Direct to Consumer, Advised and Workplace channel solutions. For more information, please visit: www.gbst.com
About Composer
Composer is a wealth management administration SaaS technology solution. It helps advised and D2C investment platforms, superannuation funds, life and pension firms, and employee savings schemes improve efficiency and ensure regulatory compliance. Composer offers a comprehensive suite of solutions to streamline the administration of wealth management products from the distribution channel to the back office. It supports multiple investment products and asset types including the management of model portfolios. Composer enables business consolidation onto a single platform, driving operational efficiency, reducing risk, and automating business processes and trading.
