US-based Empaxis has teamed up with data analytics and digital operations firm EXL to offer improved solutions to the wealth management industry.

Through the partnership, Empaxis’ middle- and back-office capabilities will be combined with EXL’s data, analytics as well as digital operations services to help wealth managers to improve their operations.

Using the combined services and solutions, wealth managers will be able to automate their middle- and back-office activities as well as boost productivity and reduce costs, among others.

Empaxis founder and CEO Stephen Van de Wetering said: “We’re excited to be working with EXL. They’re an excellent partner.

“Combining efforts allows us to offer our highly dedicated and robust middle- and back-office services to enterprise-scale, global wealth managers.

“This partnership will provide exceptional value to clients in this space.”

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Empaxis is capable of transforming investment activities using comprehensive process automation in addition to helping its clients with improved customer services and others.

The American firm currently has operations in London and India.

EXL executive VP and head of emerging business Narasimha Kini said: “Working together with Empaxis, we are able to provide the wealth management industry with the right combination of breakthrough technology, data-led operational improvement solutions and human ingenuity to transform their businesses.

“By combining our two businesses, we can provide our clients end-to-end support services that will help streamline their operations to gain a competitive advantage.”

Earlier this month, EXL announced a collaboration with and Ernst & Young (EY US) to jointly create and implement digital transformation in financial services and other industries.