As part of the deal, GVC will leverage FNZ’s platform-as-a-service to develop a new digital solution for investment services.
It has been working with FNZ to adapt the platform to the Spanish market and regulations and hopes to have the solution fully operational by 2023.
The value proposition will extend to a complete and more advanced trading platform, which will also feature a wide-open version of funds, it said. The platform will also include an advisory solution and bring together different discretionary management models.
The organisation’s financial advisors and agents will be able to manage their customer relations with improved efficiency and provide high quality services.
FNZ founder and CEO Adrian Durham said, “GVC Gaesco is a key partner for FNZ in Spain and we are delighted to be working with them to accelerate their digital transformation and deliver a market leading solution for the Spanish market.
“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.”
FNZ is a global wealth management platform, which partners with over 650 large financial institutions and 8,000 wealth management firms in 21 countries.
Earlier in the week, FNZ announced it has acquired specialised private banking technology firm New Access. FNZ said this acquisition will help it bolster its presence in Switzerland, Liechtenstein and Luxembourg.
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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