London-based wealth management platform FNZ announced that it has acquired New Access, a private banking technology firm primarily active in the markets of Switzerland, Liechtenstein and Luxembourg. Terms of the agreement were not disclosed.

FNZ said that the above-mentioned markets were key to its growth plans in the US$240 trillion global wealth market.

The strategic acquisition of New Access represents a further investment by FNZ into the growing private banking and cross-border wealth sector after a number of customer successes and the acquisition of the Swiss tech innovator Appway in February 2022.

FNZ is looking to become an end-to-end wealth platform to enable wealth managers to rapidly deliver personalised services and innovative wealth products.

With more than 200 engineers and product experts, New Access has developed innovative solutions for more than 60 private banks and wealth management firms.

With now more than 200 local FNZ employees, Switzerland will become a key private banking competence center driving the further expansion within this vertical.

Today, FNZ said that it administers more than US$1.5 trillion in client assets on its platform for over 20 million clients worldwide.

The company operates in 21 countries and partners with over 650 financial institutions and over 8,000 wealth management firms.

Adrian Durham, CEO, FNZ Group said,

“We are excited that FNZ and New Access are 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.

 

Both our companies have a shared vision to open-up wealth, empowering all people to create wealth through personal investment, aligned with things they care about the most, on their own terms. We are delighted to welcome the talented New Access team into FNZ.”

Vincent Jeunet, CEO of New Access 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, generate significant efficiencies while freeing them up to focus on their client experience.”