International wealth management platform, FNZ has acquired New Access, a Swiss private banking technology firm. According to FNZ, the acquisition will increase the company’s presence in Switzerland, Liechtenstein and Luxembourg.

FNZ, which manages over $1.5 trillion worth of assets on its platform, has more than 20 million clients around the world. The latest announcement from FNZ came approximately 7 months after the company announced the acquisition of Appway, a Swiss fintech firm.

In an official press release, FNZ highlighted the growing opportunities in the $240 trillion global wealth market. The company is currently operating in 21 counties around the world. Additionally, FNZ has partnered with more than 650 financial institutions.

"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 unrivaled full-service, end-to-end wealth management platform that will help them deliver significant operational efficiencies and improve the client experience," said Adrian Durham, the CEO of FNZ Group.

The financial details of the acquisition were not disclosed.

New Markets

FNZ noted that the acquisition will allow the company to explore growth opportunities in markets like Switzerland and Luxembourg. In Switzerland, the company has more than 200 local employees.

Vincent Jeunet, the CEO of New Access, commented: "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, and generate significant efficiencies while freeing them up to focus on their client experience."

The financial details of the acquisition were not disclosed.

New Markets

FNZ noted that the acquisition will allow the company to explore growth opportunities in markets like Switzerland and Luxembourg. In Switzerland, the company has more than 200 local employees.