Digital Digest: The Latest Tech News – FNZ, Virgin Money – Wealth Briefing
Technology
The latest technology news in the wealth management sector from around the world.
FNZ, Virgin Money
FNZ, a global wealth management platform, and Virgin Money, a digital bank, have partnered to launch a new digital investment solution for UK retail investors. The service has been developed by Virgin Money Investments, a joint venture between Virgin Money UK and abrdn.
The new digital investment platform and mobile app will offer Virgin Money customers an enhanced digital experience with a range of new features and capabilities that will make investing easier and faster, the firm said in a statement.
In addition to the front-end user experience, FNZ also provides Virgin Money with full investment operations’ capabilities covering back-end operations, investor administration and contact centre solutions, the firm continued. Virgin Money will also benefit from the opportunity to upgrade and expand its proposition in the future, including the upcoming addition of a pension product.
The direct-to-consumer platform provides investors with access to a range of three investment funds to choose from, within an ISA or GIA. Everything is managed online and via a dedicated app, ensuring a digital experience, the firm said. The partnership builds on FNZ’s ambitions to open up wealth by making wealth management more accessible to more people.
Alastair Conway, chief executive officer, FNZ UK & South Africa, said: “We have a vision of opening up wealth by providing wealth management platforms that make investing more transparent, accessible and personalised for everyone.”
FNZ administers more than $1.5 trillion in client assets representing over 20 million investors worldwide. It partners with over 650 large financial institutions and 8,000 wealth management firms in 21 countries.
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