London-based wealth management platform FNZ Group has agreed to acquire Zurich-headquartered client onboarding and servicing solution provider Appway.
The deal is expected to close early in Q1 next year. Financial terms of the acquisition were not disclosed.
This acquisition of the financial institutions-focused company will help FNZ integrate with enterprise grade low-code no-code workflow automation, with deep domain expertise across the wealth management value chain, a statement said.
CEO and Founder of Appway Hanspeter Wolf will take over as the CTO of FNZ, effective on the closing date of the deal.
FNZ provides an integrated technology, transaction and custody platform to wealth managers, banks, insurers and asset managers across North America, Europe and Asia-Pacific.
The company has over 150 institutional clients, with more than US$1.5 trillion in assets under administration.
“The Appway low-code no-code workflow automation solutions are based on the deep expertise across the full wealth continuum and allow our customers to achieve up to 90% faster client onboarding times and a 10% increase in margins on average per onboarded client,”
said Wolf.
Featured image: (From left) Adrian Durham, CEO, FNZ Group and
