FNZ acquires Swiss private banking tech firm New Access to unlock wealth together
- The acquisition represents a further investment by FNZ in the growing private banking sector and will strengthen its presence in the cross-border wealth centers of Swiss, Liechtenstein and Luxemburg.
- New Access’ award-winning digital solutions and private banking talent will further enhance FNZ’s comprehensive and transformational wealth management platform.
GENEVA, July 20, 2022 /PRNewswire/ — FNZ, the global wealth management platform, has acquired New Access, a private banking technology company primarily active in the Swiss, Liechtenstein and Luxemburg. These marketplaces are critical to serving and administering client wealth globally and will help FNZ deliver on its promise to open up wealth and serve the US$240 trillion global wealth market.
The strategic acquisition of New Access represents a further investment by FNZ in the growing sector of private banking and cross-border wealth following several client wins and the acquisition of Swiss technology innovator Appway in February 2022.
Private banks are under significant pressure to adapt and evolve offerings to their existing and new customers, but are often constrained by legacy technology, complex delivery models and new regulatory requirements. FNZ is transforming the industry landscape with its full-service, end-to-end wealth management platform. Combining state-of-the-art technology, infrastructure and investment operations in a single state-of-the-art platform, FNZ enables wealth managers to rapidly deliver personalized services and innovative wealth management products.
Today, FNZ administers over US$1.5 trillion of customer assets on its platform for over 20 million customers worldwide and has created significant economies of scale that are directly passed on to its customers.
“FNZ’s success has always been based on understanding our clients’ needs and providing the solutions they need to grow their business. We are delighted that FNZ and New Access are joining forces to provide private banks and wealth managers an unparalleled full-service, end-to-end wealth management platform that will help them achieve significant operational efficiencies and improve the client experience.” said FNZ Group CEO Adrian Durham.
“Our two companies have a shared vision of opening up wealth, enabling everyone to create wealth through personal investment, aligned with the things that matter most to them, on their own terms. We are excited to welcome the talented New Access team to FNZ.”
With its 20 years of experience and more than 200 engineers and product experts, New Access has successfully developed innovative and award-winning solutions for more than 60 private banks and wealth management companies.
Vincent YoungCEO of New Access, said“We are excited to join FNZ as we transform the industry and unlock wealth together. The combination of our solutions and expertise with FNZ’s global strength, scale and commitment to the global private banking is a great opportunity for New Access and our clients.”
“New Access clients will benefit from FNZ’s significant investments and track record in private banking which will help them reduce operational complexity, drive significant efficiencies while freeing them to focus on their client experience. .”
Now with over 200 local FNZ employees, Swiss will become a key competence center for private banking, driving further expansion within this vertical.
Eric Mayfounding partner of BlackFin Capital Partners, added: “New Access and FNZ are both leaders in their fields and this is an exciting partnership. BlackFin is proud to work alongside Vincent and the New Access team. Together, we have developed the New Access offering into a complete banking solution from core to digital. suite and positions the company as a choice alternative to the major historical players in the private banking and wealth management sectors by Swiss and abroad. We believe this combined team and unparalleled set of solutions will help their customers accelerate their digital transformation. We wish them the best for the next stage.”
Today, FNZ operates in 21 countries and partners with over 650 financial institutions and over 8,000 wealth management companies to enable over 20 million people from all wealth segments, including savings and retirement, the rich and ultra-fortunate, to create wealth through long-term investing, aligned with the things that matter most to them and on their own terms.
Terms of the agreement are not disclosed. Deloitte, FIG Corporate Finance Advisory acted as exclusive financial advisor to FNZ, while CMS acted as legal advisor, in support of the transaction.
FNZ is the global platform provider in the wealth management industry, partnering with over 650 of the world’s leading financial institutions and over 8,000 wealth management firms. With over 4,500 employees in 21 countries, FNZ’s mission is to unlock wealth, empowering everyone to create wealth through personal investment, aligned with the things that matter most to them, on their own terms.
FNZ combines technology, infrastructure and investment operations in a single, state-of-the-art platform that enables its institutional clients to create hyper-personalized and innovative products and services that are perfectly aligned with the needs of their customers.
To date, FNZ has empowered over 20 million people, across all wealth segments, to invest efficiently, simply and transparently, making wealth management accessible to everyone.
About the new access
New Access is a leading provider of a scalable and modular suite of Core-to-Digital solutions designed to meet the specific requirements of the Private Banking and Wealth Management industry.
New Access enables digital transformation and improves customer satisfaction through its digital front-end solution, including advisor cockpit, customer lifecycle management (CLM) and customer/EAM portal. Its offer also includes an advanced and complete Core Banking System, a Portfolio Management System (PMS) and a powerful workflow engine (BPM).
New Access has been operating exclusively in the private banking and wealth management industries for over 20 years, serving over 60 clients worldwide.
About BlackFin Capital Partners
Focused on investing in financial services companies, fintechs and insurtechs, BlackFin is the European leader in the sector with 2.4 billion euros in assets under management.
BlackFin is currently investing from its €1 billion Buyout III and €350 million Tech 2 funds, targeting established financial services companies and high-growth B2B fintechs and insurtechs respectively.
Founded in 2009, BlackFin Capital Partners is an independent private equity firm led by nine partners who have worked together as managers and entrepreneurs in the financial industry for decades. The team has a total of 45 professionals distributed in the offices of Paris, London, Brusselsand Frankfurt.
For more information, please visit www.blackfin.com.
FNZ contact details
E : [email protected]
M: +44 7522 558917