Adviser-focused platform business Wealthtime has joined forces with Indian technology services and consulting company Wipro and its technology partner GBST to drive business transformation.
The collaboration is expected to deliver a market-leading digital-first platform. Besides, the parties seek to create an innovative and customer-centric service offering designed to address the changing requirements of financial advisers and their clients.
Through the partnership, Wealthtime and Wealthtime Classic platforms will be integrated under a unified brand. The enhanced platform will be powered by GBST technology.
According to the terms of the agreement, Wipro and GBST will deploy a joint co-delivery model to offer end-to-end platform services.
Wipro’s expertise in operational excellence and digital transformation across multiple sectors, including UK financial services, will enable the company to accelerate Wealthtime’s service and technology transformation.
Wealthtime CEO Patrick Mill said: “Our existing relationship with GBST will allow us to fast track our proposition development through accelerated platform enhancements, to deliver market leading technology that underpins our future strategy.
“While Wipro’s proven operational expertise across multiple sectors including financial services, will bring new insights to the largely insular platform space to create a best-in-class experience for our customers.”
As part of the agreement, Wealthtime will transfer its operations and technology as well as change functions to Wipro’s newly established UK centre of excellence for business processing, located in the Southwest.
This move will allow Wealthtime to tap into Wipro’s advanced technology capabilities, including artificial intelligence (AI) and IT solutions, to continually improve service standards and front-end applications.
Platform users, including advisers and investors, are expected to benefit from significant enhancements, particularly in the adviser and investor zones.
The partnership will also streamline service provision through automation, reducing manual tasks and enabling advisers to focus on high-value work.
Wipro UKI managing director Omkar Nisal said: “This project solidifies our continued investments in the UK Life and Pensions industry through our FCA regulated business entity.
“Backed by our unmatched industry and transformation experience, we will enable Wealthtime’s improved speed-to-market, enhanced customer engagement, and cognitive operations through our innovative and GenAI-powered technology services, along with GBST’s agile and digital Composer platform.”
The latest partnership extends Wealthtime’s 15-year technology collaboration with GBST, with accelerated platform enhancements set for 2025 and continuous updates planned to future-proof Wealthtime’s technology.
In June this year, Wipro partnered with GBST to modernise superannuation and wealth administration services, offering end-to-end administration services for superannuation, wealth, and pensions companies migrating from legacy IT environments.
