WealthOS, a Barclays-backed WealthTech, has recently been selected by Quai Digital as its new strategic technology partner.
Quai Digital stands out as a leading provider of B2B wealth management white label outsourcing services. This collaboration aims to leverage WealthOS’s composable software, integrating with Quai’s proprietary platform to foster growth and offer scalable, feature-rich, digital financial capabilities to clients.
The partnership is set to utilize WealthOS’s software to support current assets under administration and over 200,000 accounts, including GIAs, ISAs, and SIPPs. Quai Digital plans to use WealthOS’s capabilities to launch new products and services within the wealth management space, marking a significant milestone in WealthOS’s journey since its £2m seeding investment from Barclays in Q4, 2023.
WealthOS is recognized for its innovative approach to WealthTech, offering composable software that enables seamless integration with other platforms to provide scalable and feature-rich digital financial solutions. On the other hand, Quai Digital is renowned for its comprehensive B2B wealth management services, offering white label outsourcing solutions that empower clients to expand their digital wealth management offerings.
This strategic alliance is expected to not only support the existing infrastructure but also enable Quai Digital to introduce new, fully digital financial products like drawdown pensions and Lifetime ISAs. The use of WealthOS’s cloud-native infrastructure and its integrated ecosystem of third-party vendors will enhance Quai’s ability to deliver configurable client experiences through an extensive suite of APIs, facilitating easy connectivity and development.
The partnership is a testament to WealthOS’s API-driven approach, which is set to enable the development of digital wealth management products and features at least three times faster than traditional platforms. This innovation underscores the commitment of both companies to advancing the digital transformation in the wealth management industry.
Quai CEO Tony Webb remarked, “We had no hesitation in selecting WealthOS as our strategic tech partner to help us scale the business and realise our growth ambitions. They bring fresh ideas to the industry and offer a high degree of innovation, automation and orchestration within their software.
“Their passion and depth of technical expertise complements our own extensive in-house credentials in operating well established wealth management products. These factors will greatly enhance Quai’s capacity, grow our operational capability, and will further leverage the skills of our high-quality team to provide the next generation of digital wealth management products.”
Anton Padmasiri, CEO and Co-Founder of WealthOS, stated, “We’re honoured to be chosen by Quai, a recognised leader in digital wealth management, as the infrastructure partner for their growth journey. This collaboration validates our unwavering commitment to building the ideal digital architecture for modern wealth management middle and back-office platforms.
“Our expertise in large-scale platform migrations and enhancements will empower Quai’s market leadership ambitions. We are also excited to be supporting Quai’s launch of new financial products through our software, including fully digital drawdown pensions and Lifetime ISAs. We look forward to a successful partnership that delivers tangible value.”
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