Wealth Management Fintech FNZ, Virgin Money to Launch Investment Solution for UK Clients

FNZ, the global wealth management platform, and Virgin Money, the “full service” digital bank serving 6.6 million customers across the UK, are announcing that they have partnered in order “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, faster and more convenient than ever before.”

After a comprehensive selection process, Virgin Money selected FNZ as its partner because of its technology, its track record in delivering direct-to-consumer (D2C) propositions, its track record of complex platform implementations and ability “to deliver innovative end-to-end digital experiences across multiple channels.”

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 center solutions.”

Virgin Money will also “benefit from the ongoing opportunity to further upgrade and expand its proposition in the future, including the upcoming addition of a pension product.”

The direct-to-consumer (D2C) platform “provides both first time and experienced investors with direct 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 seamless digital experience.”

The partnership “builds on FNZ’s ambitions to open up wealth by making wealth management more accessible to more people.”

The aim is “to provide all investors with best-in-class tools and technology to empower them to grow their personal assets – regardless of where they sit on the wealth spectrum, and to provide investors with confidence to make smart decisions when it comes to managing their money.”

FNZ is “transforming the industry landscape with its end-to-end wealth platform.”

By combining key technology, infrastructure, and investment operations into a single, state-of-the-art platform, they “enable global financial institutions to rapidly deliver personalized services and innovative wealth products that are seamlessly tailored to their clients’ needs.”

Today, FNZ reportedly “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.”

Alastair Conway, CEO UK & Middle East & Africa FNZ, said:

“We are delighted to have partnered with Virgin Money to deliver this exciting digital investment platform. We have a vision of opening up wealth by providing wealth management platforms that make investing more transparent, accessible and personalized for everyone. Technology is at the core of this and pairing our capabilities with the team, world-class brand and distribution strength of Virgin Money will allow us to accelerate our mission and scale the delivery of our solutions.”

Jonathan Byrne, chief executive officer at Virgin Money Investments, said:

“Through our partnership with FNZ, we’ve designed our new investment service to be accessible and straightforward for everyone – whether someone is an experienced investor or investing for the first time. It’s important that consumers feel confident enough to make the most of their money, particularly during these challenging times.”



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