Web-based registry platform DST Bluedoor will expand into Europe after partnering with International Financial Data Services (IFDS), a joint venture between DST Systems and State Street.
As part of the agreement, Bluedoor will support IFDS' outsourced European wealth management and platform administration businesses. IFDS has operations in several countries including the US, the UK, Japan, India and Germany and supports more than 20 million investor accounts.
Bluedoor executive director Martin Spedding said that on the back of business growth in Australia, the European expansion was an important strategic milestone for the business.
He said Bluedoor is currently in the process of signing up the first institutional client on the IFDS platform administration service and building a dedicated team to support its new European operations.
"We have a track record of taking Australian financial services technology to the world, and Bluedoor represents an exciting opportunity for us both in Australia and globally," said DST Systems chief executive Steve Hooley.
