FNZ’s Apway acquisition promises new dawn for client onboarding services
“Everyone wants to go beyond just buying technology,” Wolf says. “They want a full-blown end-to-end solution that really takes care of the infrastructure and integration into existing technology.”
As money firms are under increased pressure to satisfy regulators and perform at scale, clients are looking for providers who can assist not only on technology, but also with respect to ongoing regulations and operations. Firms are also facing increasing expectations to deliver a more seamless experience for end customers as they transition across different bands of funding continuum.
“You see heavy hitters who are serving mass-market clients under a robo-advisor or retail banking unit, largely affluent clients working with private wealth firms, and indeed by boutique and family offices. Serving high-net-worth customers,” says Wolf. “They are increasingly moving to integrate their businesses. The idea is under one umbrella to provide high tactile service to customers as they accumulate assets and move forward with their personal continuity of wealth.
To become a service provider of money firms need, Appway needs a partner that not only complements its existing capabilities, but is also a good conceptual and cultural fit. That’s what Wolf found at FNZ.
“When I put Adrian [Durnham, CEO of FNZ]’I found someone who literally shares the same views on the industry,'” he says. “We believe that the industry needs to move beyond just buying best-of-breed software and stitching it together on our own, and into something that provides a truly end-to-end managed service and a very Provides results at a transparent level. Investors are looking for.”