FNZ, the global asset management firm and financial services provider based in London, is acquiring Appway. No details have been disclosed with regard to the purchase price. In an identical press release issued by both firms, FNZ appeared confident that together they will be able to offer financial institutes “an unrivalled platform”. According to Adrian Durham, CEO of the FNZ Group, this will “accelerate their digital transformations, deliver significant operational efficiencies and improve the client experience”. Hanspeter Wolf, CEO and founder of Appway, will become Chief Technology Officer of the FNZ Group.
The Zurich-based FinTech firm Appway is one of the leading companies in the digital onboarding of new customers for financial service providers. In addition, according to the company, its cloud solutions automate internal processes of almost 230 small, medium and large financial institutions at present. Overall, the award-winning software package is used by more than 420,000 customers around the world.
FNZ offers a fully integrated technology, transaction and custody platform for wealth managers, banks, insurance firms and asset managers across 18 different countries. According to the press release, the group works with more than 150 major financial institutions.
“Both Appway and FNZ are leaders in their respective fields”, says Dr. Matthias Allgaier, Appway Board Director. He previously served as part of the FNZ board. “I believe this combined team and solution set will help their customers deliver revenue growth and improved operating margins through digital transformation”, he adds.