Australian-based financial services technology provider, DST Bluedoor, plans to expand into Europe.
It provides technology for wealth managers, superannuation funds, platform providers, and third party administrators.
DST was selected by investor services provider, International Financial Data Services (IFDS) to deliver the underlying technology to support its outsourced European wealth management and platform administration business.
DST executive director, Martin Spedding, said its entry into the European market was an important strategic milestone, following its growth in Australia. Its employee numbers have more than doubled from 65 in 2010 to 180.
“Our European customisation work is well underway, and we have started work on the implementation of the first institutional client on the IFDS platform administration service,” Spedding said. “We’ve already built a large dedicated team to support our European business.”
IFDS CEO platform solutions, Matthew Brown, said through combining its services with Bluedoor technology, it can deliver a cost-effective solution to the platform space.