Groupe Indosuez Wealth Management: Indosuez acquires majority stake in fintech Wealth Dynamix
Indosuez Wealth Management acquires a majority stake in Wealth Dynamix, a fintech specializing in client relationship management for private banks
Paris, 26 January 2023 – Today Indosuez Wealth Management acquired 70% of Wealth Dynamics Ltd. (“Wealth Dynamix”), a fintech founded in 2012 that provides Client Lifecycle Management solutions to private banks and wealth management and asset management firms worldwide.
This purchase of a majority stake is an extension of the collaboration started in 2019 between Indosuez, the subsidiary of Azqore, which specializes in the outsourcing of information systems and the processing of banking operations for private banking and wealth management players, and Wealth Dynamix. The solutions developed by Wealth Dynamix enhance the quality of service offered by the user institutions by contributing to operational efficiency and personalization of the relationship between the banker and the client (360-degree vision, prospecting, onboarding, KYC review, etc.), promotion of self-service and digitization of regulatory compliance processes.
This acquisition strengthens Azqore’s position in the market for outsourced banking services, while also complementing the platform in a key area of client relationship management. It will also enable the company to accelerate its innovation dynamics with the integration of new technical skills and benefit from the agility of this profitable fintech. Through the synergies and added value created, this acquisition will help Azqore expand into new customer segments, including small and medium-sized players.
The support of Indosuez, one of the world’s leading wealth management companies, will enable Wealth Dynamix to accelerate its development and benefit from the group’s scale and stability, while maintaining its independence and agility.
Jacques ProstCEO of Indosuez Wealth Management, said: “This operation, which reinforces Indosuez’s innovation dynamism, will enable Azqore to expand its offer and strengthen its value proposition, thus contributing to its attractiveness in the market. It will also benefit the development and transformation of all its partners by allowing more personalization, digitization and autonomy for their customers.”
Gary LinieresCEO of Wealth Dynamix, said: “I am delighted that Wealth Dynamix has become part of the Indosuez team. We have worked strategically with Indosuez and Azqore for a number of years. We can now deepen our relationship even further. Crucially, this partnership allows us to retain our agility and entrepreneurial spirit, while leveraging the strength of an organization that the Indosuez Group provides. This will allow us to better serve our current and future customers, accelerate the development of our products and ultimately give us greater opportunity for growth.”
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About Indosuez Wealth Management
Indosuez Wealth Management is the global wealth management brand of Crédit Agricole Group, ranked number 10th largest bank in the world based on balance sheet (The Banker 2022).
Shaped by more than 145 years of experience supporting families and entrepreneurs worldwide, Indosuez Wealth Management offers a tailored approach that allows our clients to protect and develop their wealth in accordance with their aspirations. Their teams take a comprehensive view and provide expert advice and exceptional service, offering a wide range of services for the management of both personal and business assets.
Known for its international reach combined with a human scale, Indosuez Wealth Management employs nearly 3,000 people in 10 locations around the world, in Europe (Belgium, France, Italy, Luxembourg, Monaco, Spain and Switzerland), Asia-Pacific ( Hong Kong SAR) , New Caledonia and Singapore) and the Middle East (United Arab Emirates).
With 135 billion euros in assets under management (as of 31/12/2021), Indosuez Wealth Management is one of the global leaders in wealth management.
About Azqore
Azqore is a digital service provider specializing in information system outsourcing and banking transaction processing for the wealth management industry.
For almost thirty years, Azqore has delivered innovative solutions to transform, digitize and improve the experience of private banks’ customers.
Azqore is a subsidiary of Indosuez Wealth Management, the global wealth management brand of Crédit Agricole, the world’s 10th largest bank by balance sheet (The Banker 2022). Thanks to the support of its other shareholder, Capgemini, a world leader in consulting, technology services and digital transformation, Azqore combines banking DNA with a technological approach.
Azqore has completed more than 60 banking migrations on its banking platform and currently serves 26 customers worldwide with a total of approx. CHF 200 billion in assets under management.
About Wealth Dynamix
Founded in 2012, Wealth Dynamix solves key Client Lifecycle Management (CLM) challenges with intelligent technology. Its award-winning CLM platforms eliminate friction and inefficiencies throughout the client lifecycle, ensure compliance and digitize client journeys. The solutions orchestrate journeys throughout the client’s lifecycle and significantly enrich the client experience.
Wealth Dynamix offers two CLM options. WDX1 is a robust, adaptable CLM solution that addresses the complex CLM requirements of large private banks and the wealth and asset management divisions of global financial institutions. CLMi is a cost-effective, cloud-based SaaS CLM solution that is ideal for mid-sized discretionary fund and investment managers who want direct use, fast deployment and hassle-free maintenance.
