The acquisition of New Access, which operates primarily in Switzerland, Liechtenstein and Luxembourg, marks FNZ’s further investment in the private banking and cross-border wealth sector
New Access is a private banking technology company. (Credit: Scott Graham on Unsplash)
New Zealand-based financial services company FNZ has completed the acquisition of Swiss private banking technology company New Access for an undisclosed sum.
New Access operates in Switzerland, Liechtenstein and Luxembourg, which are said to be crucial to serving client wealth worldwide.
FNZ said that the acquisition marks its further investment in the private banking and cross-border wealth sector and will enable it to serve the $240 trillion global wealth market.
The deal follows the company’s acquisition of Swiss tech innovator Appway in February this year.
FNZ Group CEO Adrian Durham said: “FNZ’s success has always been based on understanding the needs of our customers and providing them with the solutions they need to grow their business. We are excited that FNZ and
“New Access is 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.”
FNZ offers a full-service, end-to-end wealth platform to transform the landscape of the private banking industry.
It combines advanced technology, infrastructure and investment operations into a single platform to enable wealth managers to deliver personalised services and products.
The wealth management platform has more than 200 employees in Switzerland, which is expected to become an important private banking centre for further expansion.
New Access has more than 200 engineers and product experts and has delivered advanced solutions for more than 60 private banks and wealth management firms.
Deloitte, FIG Corporate Finance Advisory served as exclusive financial advisor to FNZ, while CMS served as legal adviser on the transaction.
New Access CEO Vincent Jeunet said: “We are excited to be joining FNZ as we transform the industry and open up wealth together. Combining our solutions and expertise with the global strength, scale and commitment of FNZ to the global private banking market is a great opportunity for New Access and our clients.”
“New Access customers will benefit from FNZ’s significant investment and track record in the private banking sector that will help them to reduce operational complexity, and generate significant efficiencies while freeing them up to focus on their client experience.”