FNZ acquires Swiss private banking technology company New Access to open up wealth together

FNZ, the global wealth management platform, has acquired New Access, a specialized private banking technology firm primarily active in the markets of Switzerland, Liechtenstein and Luxembourg. These markets are key to serving and administering client wealth globally and will support FNZ in delivering 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 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.

Private banks are under significant pressure to adapt and scale offerings to their existing and new clients 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 platform. Combining cutting-edge technology, infrastructure and investment operations into a single state-of-the-art platform, FNZ enables wealth managers to rapidly deliver personalized services and innovative wealth products.

Today, FNZ administers more than US$1.5 trillion in client assets on its platform for over 20 million clients worldwide and has created significant scale efficiencies that are directly passed on to its customers.

“FNZ’s success has always been based on understanding the needs of our customers and providing them the solutions they need to grow their business. 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.” said Adrian Durham, CEO, FNZ Group.

“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.”

With its 20-year track record 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 firms.

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.”

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

Eric May, Founding Partner of BlackFin Capital Partners, added: “Both New Access and FNZ are leaders in their fields and this is an exciting partnership. BlackFin has been proud to work alongside Vincent and the New Access team. Together, we have grown the New Access offering into a full core-to-digital banking suite and positioned the company as an alternative of choice to large incumbent players in the private banking and wealth management sectors in Switzerland and abroad. We believe this combined team and unrivalled solution set will help their customers accelerate their digital transformation. We wish them our best on the next step.”

Today, FNZ operates in 21 countries and partners with over 650 financial institutions and over 8,000 wealth management firms to empower over 20 million people from all wealth segments, including savings and retirement, affluent and ultra/high-net-worth, to create wealth through long-term investment, aligned with things they care about the most, and on their own terms.

Terms of the agreement are not being disclosed. Deloitte, FIG Corporate Finance Advisory acted as exclusive financial advisor to FNZ, while CMS acted as legal adviser, in support of the transaction.

About FNZ

FNZ is the global platform provider in the wealth management sector, 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 open-up wealth, empowering all people to create wealth through personal investment, aligned with things they care about the most, on their own terms.

FNZ combines technology, infrastructure, and investment operations in a single state-of-the-art platform that frees its institutional customers to create hyper-personalized and innovative products and services that are seamlessly aligned with the needs of their clients.

To date, FNZ has enabled over 20 million people, from all wealth segments, to invest in an effective, simple, and transparent way, making wealth management accessible to everyone.

About New Access

New Access is a leading provider of a scalable and modular Core-to-Digital solution suite designed to meet the specific requirements of the private banking and wealth management industry.

New Access enables digital transformation and improves client satisfaction with its digital front-end solution, including an advisor cockpit, Client Lifecycle Management (CLM) and a client/EAM portal. Its offering also includes an advanced and comprehensive Core Banking System, a Portfolio Management System (PMS) and a powerful workflow engine (BPM).

New Access has been operating for over 20 years exclusively in the private banking and wealth management sectors, supporting more than 60 customers, globally.

www.newaccess.ch

About BlackFin Capital Partners

Focused on investing in financial services companies, fintechs and insurtechs, BlackFin is the European sector leader with €2.4bn assets under management.

BlackFin is currently investing from its €1bn Buyout III and €350m Tech 2 funds, respectively targeting established financial services companies and high growth B2B fintechs & insurtechs.

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 across offices in Paris, London, Brussels, and Frankfurt.

For further information, please visit www.blackfin.com.

FNZ contact details
Anna Dickens
E: anna.dickens@charlottestreetpartners.com
M: +44 7522 558917

Source: FNZ