Allfunds announces the acquisition of Fintech Business Finametrix
The largest B2B solutions platform in Europe* and a leader in fintech solutions will be integrated.
With more than 600 institutional distributors, Allfunds will benefit from the wide range of digital solutions currently offered by Finametrix.
Allfunds, which serves more than 1,200 fund managers, will extend the services of Finametrix, which already has more than 40 management entities to which it offers its digital services.
Allfunds announced this morning the acquisition of Finametrix, a leading company in fintech solutions for asset management and advice. Thanks to this acquisition it is expected to benefit Allfunds´ extensive network of institutional clients, including managers and distributors, becoming the ideal partner for the technological revolution facing the sector. Additionally, Finametrix, as part of Allfunds, is expected to benefit from the international scale and structure of a global and consolidated entity.
Following this new agreement, both companies will offer their services jointly but with complete independence, without the agreement affecting any services or clients that currently use both service platforms separately. This alliance strengthens the great service offering of both companies: versatility and flexibility. Allfunds will continue offering global solutions compatible with all types of technology providers, while Finametrix will continue to be compatible with the rest of the operating platforms in the market.
Salvador Mas, the head of Finametrix, said, "Finametrix is a developing entity and is proving very exciting, and from now on it will be even more so. We are very happy to be able to provide continuity and scale with a company that we have admired for many years, Allfunds. The technological challenges in the sector are so great and there are so many opportunities that we could not dream of being in a better position to add value to our clients."
CEO of Allfunds, Juan Alcaraz, said, "This acquisition is part of the ambitious strategic plan that has a renewed momentum on the part of our new shareholders and that aims to consolidate our business as the platform of reference in open architecture solutions. We are enhancing our offering 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. This is just one more stage in a process of transformation in our business by including tested Finametrix solutions which will undoubtedly help our customers from today, when and where they need it most. We want to give a strong welcome to Salvador and his team, and we encourage all our customers to know in greater detail the great company that is Finametrix and its digital solutions. "
Salvador Mas will assume the position of Head of Digital, leading a new area within Allfunds, focused on the definition and development of new digital products and services.
According to:*‘European Fund Distribution: Leading Platforms,’ Platforum, March 2017
Notes to Editors:
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words like "may," "will," "likely," "should," "expect," "anticipate," "future," "plan," "believe," "intend," "goal," "seek," "estimate," "project," "continue" and similar expressions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. The forward-looking statements included in this press release are made only as of the date of this release, and except as otherwise required by federal securities law, we do not have any obligation to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances.
Allfunds Bank Group offers integrated fund solutions (operational, analysis and information). Created in 2000, today Allfunds Bank has more than €360 billion in assets under administration and offers more than 57,000 funds from over 1,200 fund managers. Allfunds Bank has a local presence in Spain, Italy, UK, Chile, UAE, Switzerland, Colombia, Luxembourg and Singapore and has more than 590 institutional clients, including major commercial banks, private banks, insurance companies, fund managers, financial supermarkets, international brokers, and specialist firms from 41 different countries.
Katherine Sloan Jaime Pérez-Maura
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Finametrix offers fintech solutions to wealth and asset management companies. Created in 2014, more than 40 financial institutions are already using Finametrix fintech solutions to provide to their bankers, advisors and final customers with the most usable and transparent solutions, in areas such as customer onboarding, reporting, advisory or portfolio management. Finametrix technology is also a regtech solution for companies to fulfill their increasingly needs of legal compliance in areas such as MiFID2 or KYC, where innovation plays an essential role.