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December 8, 2021

FNZ to acquire Appway to bolster wealth management platform

By Verdict Staff

Wealth tech firm FNZ is set to acquire Zürich-headquartered Appway, which provides client onboarding and client servicing for financial institutions.

Free Report
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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

Financial terms of the deal have not been revealed.

Appway helps financial institutions to automate and speed up their business-critical core processes and to comply with evolving regulatory requirements.

Its low-code no-code workflow automation solutions are claimed to provide clients with up to 90% faster client onboarding times and a 10% rise in margins on average per onboarded client.

With strategic purchase, FNZ expects to expand its capabilities in enterprise-grade low-code no-code workflow automation with deep domain expertise across the entire wealth management value chain.

FNZ Group CEO Adrian Durham said: “We are excited that FNZ and Appway are coming together to provide financial institutions with an unrivalled platform to accelerate their digital transformations, deliver significant operational efficiencies and improve the client experience.”

As part of the deal, Appway founder and CEO Hanspeter Wolf will assume the role of CTO at FNZ Group. Wolf will also join FNZ’s senior leadership team.

Wolf commented on the deal: “I could not be more excited about joining FNZ as the Chief Technology Officer and the value we will create together.

“Combining our solutions and the expertise of the Appway team with the strength, scale, and commitment of the FNZ Group will help extend our market-leading innovation.”

The latest deal follows FNZ’s purchase of direct-to-consumer digital investment platform Hatch from Kiwi Wealth in this October.

In April, the firm established wealth management business in the US in collaboration with State Street.

The development followed its acquisition of a majority stake in State Street’s Wealth Manager Services business in the US.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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