Global wealth management platform FNZ has acquired specialised private banking technology firm New Access.
New Access operates in Switzerland, Liechtenstein and Luxembourg, and FNZ hopes the deal will bolster its market growth.
FNZ said the acquisition represents further investment into the growing private banking and cross-border wealth sector.
The company said it is transforming the industry landscape with its full service, end-to-end wealth platform. It combines technology, infrastructure and investment operations into a single state-of-the-art platform. Wealth managers can use the technology to offer personalised services and innovative wealth products.
It claims to administer over $1.5trn in client assets on its platform for over 20 million clients around the world.
FNZ Group CEO Adrian Durham said, ?FNZ success has always been based on understanding the needs of our customers and providing them the solutions they need to grow their business. We are excited that FNZ and New Access are coming together to provide private banks and wealth managers with an unrivalled full service, end-to-end wealth management platform that will help them deliver significant operational efficiencies and improve the client experience.
?Both our companies have a shared vision to open-up wealth, empowering all people to create wealth through personal investment, aligned with things they care about the most, on their own terms. We are delighted to welcome the talented New Access team into FNZ.p>
FNZ recently made a strategic investment into GIST, which offers impact data and analytics. GIST leverages a science-based approach to measure and value corporate impacts in monetary terms based on the Four Capital framework natural capital, human capital, social capital and produced capital.
FNZ closed its own funding round earlier this year. It raised a colossal $1.4bn, which put its valuation at $20bn.
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