Investment platform Allfunds has purchased FinTech business Finametrix, a provider of digital services to asset managers.
The two companies will offer their services together but independently going forward, without the partnership affecting any services or clients that currently use both service platforms separately. Allfunds said the deal will help its extensive network of institutional clients, both managers and distributors. While Finametrix will benefit from the international scale and structure of a global platform and a consolidated entity.
Founded in 2014, Finametrix is a global provider of portfolio management and analysis solutions for private banks, wealth & asset management, and advisors & family offices. The company claims its fully customised solutions can help its customers meet the requirements of MiFID II in a ‘simple and integrated way’.
Its solution can automatically centralise the suitability, risks and regulatory compliance limits of its clients, satisfying the regulatory obligations and documentation according to its website. Finametrix also helps reduce errors with the automation of manual processes, create detailed analysis and generate custom portfolio reports, and provide a ‘simple and secure solution’ for data processing and Nextportfolio calculations.
Juan Alcaraz, CEO of Allfunds, said: “We are providing our platform with the most innovative technology, front-office digital solutions, big data and tools that help our clients to lead the change that is taking place in the sector.
“But above all, we incorporate a great team of professionals with a proven ability to accompany us and help us in the process of transforming the company; a transformation that happens to be at the forefront of technology, offering proven solutions such as Finametrix, which will undoubtedly help our customers from today, when and where they need it most.
Finametrix’s client roster includes Santander, BBVA, Bankia, Belgravia Capital, Abaco Capital Asset Management, Cobas Asset Management, and azValor Asset Management, among others.
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