The partnership is designed to boost the transparency of information asset managers need in order to distribute their funds. The offering is targeted for the UK and wider European market.
FNZ, the wealth management technology provider which last year agreed to buy Switzerland-based onboarding tech specialist Appway, has partnered with the trade services provider Clearstream – the post-trade services provider of Deutsche Börse Group.
The partnership, which will launch a new business intelligence solution, is aimed at the UK and European asset management industry, the firms said in a statement earlier this week.
Explaining the reason for the move, FNZ and Clearstream said that investment distribution information is fragmented and there is very little connectivity across the industry. This means that asset managers need to seek information from wherever they distribute funds – hence the need for a new solution.
The new capabilities will provide asset managers with the global and regional intelligence they require to analyse market trends, achieve a better understanding of behaviour, improve decision-making for fund distribution and, ultimately, deliver stronger business, customer and regulatory outcomes.
“The partnership and our newly-unveiled business intelligence solution will allow us to significantly enhance our support for asset managers by dramatically increasing transparency across the entire industry,” Adrian Durham, CEO at FNZ Group, said.
In February FNZ, which in 2021 agreed to buy Switzerland-based onboarding tech specialist Appway, secured $1.4 billion in new equity funding from Canada Pension Plan Investment Board and Motive Partners. That fundraising valued FNZ, founded in 2003 in New Zealand, at more than $20 billion.