Additiv has clinched a tie-up with French technology firm Orange. The Zurich-based fintech plans to offer cloud-based wealth management services worldwide.
Additiv and Orange Business Services, one of the world's largest information technology providers, are teaming up on financial services. The partnership allows Additiv to sell cloud-based digital wealth management services, the two companies said in a statement on Monday.
Orange's Business Services plans to put 11 data centers in Europe, Russia, the Middle East, and Asia at Additiv's disposal as part of the deal, financial details of which weren't disclosed.
The tie-up makes Additiv one of the first providers of so-called «wealth management as a service.» Specifically, banks can draw their digital wealth management platform services from Additiv at the push of a button.
Modular Client Platform
Additiv is offering the fourth generation of its digital finance suite which allows clients to build their own modular wealth management platforms. Products include robo advisers, portfolio management solutions, and so-called dashboard summaries for clients and advisers.
To do so, Orange will provide Additiv with clouds, storage space, and protection against potential cyber attacks. The fintech is betting that wealth managers will buy an outsourced platform which is fully compliant with rules and regulations instead of investing heavily to build their own.
«We can offer finance institutions fast and secure access to a new wealth management market through this partnership,» Additiv CEO Michael Stemmle said in the statement. «The client experience will improve while operating costs will fall dramatically.»
Ebner-Backed Fintech
Saxo Bank is also part of the tie-up and can offer execution, transaction and custody services to wealth managers. The service is the first to unit a software provider with those of a digital banking services firm, according to Orange.
The French firm, which operates 38 data centers in 16 countries, generated 7.3 billion euros in revenue last year. Additiv provides digital solutions for banks, insurers, and asset managers. Last year, reknowned Swiss financier Martin Ebner joined the ranks of its backers with a 20 million Swiss franc ($20.2 million) investment as part of a capita-raising.
