High street banks 'could enter platform market'

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Retail banks are the most likely driver of consolidation in the platform market, according to a leading back-office provider.

Australian technology company GBST, which recently announced a large project with Fidelity, said the southern hemisphere provided a good indicator of how the UK platform market will develop. "The interesting thing from our perspective is when the banks come into play," said head of UK sales and marketing Kirsty Worgan. "When the banks came in to the platform market in Australia, that's what really changed the market and [we started] seeing consolidation. "That's the one thing that hasn't happened here, so it will be interesting to see." American Express and MacQuarie both made u...

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