Allfunds Bank’s platform has acquired Finametrix, a leading fintech company for asset management and advice.
The acquisition will benefit both Allfunds’ network of institutional clients – including managers and distributors – and Finametrix, which will benefit from the global scale and structure of Allfunds.
Although the agreement implies that both companies will provide their services jointly, they will remain independent with regards to any services or clients currently using both service platforms separately.
Following the operation, 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, who is currently the head of Finametrix, will assume the position of head of Digital at Allfunds, focusing on the definition and development of new digital products and services.
Salvador Mas, 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.”
Allfunds’ CEO, Juan Alcaraz, added: “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.”