FNZ, the global wealth management platform, and Virgin Money, the full-service digital bank serving 6.6 million customers across the UK, have partnered to launch a new digital investment solution for UK retail investors.
The new digital investment platform and mobile app will offer Virgin Money customers an enhanced digital experience with a range of new features and capabilities with the aim of making investing easier, faster and more convenient.
The service has been developed by Virgin Money Investments, a joint venture between Virgin Money UK and abrdn. The service is managed online and via a dedicated app, ensuring a seamless digital experience.
In addition to the front-end user experience, FNZ also provides Virgin Money with full investment operations capabilities covering back-end operations, investor administration and contact centre solutions.
Virgin Money will also benefit from the ongoing opportunity to further upgrade and expand its proposition in the future, including the upcoming addition of a pension product. The direct-to-consumer (D2C) platform provides both first-time and experienced investors with direct access to a range of three investment funds to choose from, within an ISA or GIA.
The partnership builds on FNZ’s ambitions to open up wealth by making wealth management more accessible to more people. The aim is to provide all investors with best-in-class tools and technology to empower them to grow their personal assets – regardless of where they sit on the wealth spectrum and to provide investors with the confidence to make smart decisions when it comes to managing their money.
FNZ’s end-to-end wealth platform combines leading-edge technology, infrastructure and investment operations into a single platform enabling global financial institutions to deliver personalised services and wealth products that are tailored to their clients’ needs.
‘Accessible and straightforward for everyone’
Jonathan Byrne, chief executive officer at Virgin Money Investments, comments: “Through our partnership with FNZ, we’ve designed our new investment service to be accessible and straightforward for everyone – whether someone is an experienced investor or investing for the first time. It’s important that consumers feel confident enough to make the most of their money, particularly during these challenging times.”
After a comprehensive selection process, Virgin Money selected FNZ as its partner because of its state-of-the-art technology, its proven excellence in delivering D2C propositions, its track record of complex platform implementations and its ability to deliver innovative end-to-end digital experiences across multiple channels.
Alastair Conway, CEO of the UK, Middle East and Africa at FNZ, said: “We are delighted to have partnered with Virgin Money to deliver this exciting digital investment platform. We have a vision of opening up wealth by providing wealth management platforms that make investing more transparent, accessible and personalised for everyone.”
“Technology is at the core of this and pairing our capabilities with the team, world-class brand and distribution strength of Virgin Money will allow us to accelerate our mission and scale the delivery of our solutions,” Conway adds.
Today, FNZ administers more than $1.5trillion in client assets representing over 20 million investors worldwide. It partners with over 650 large financial institutions and 8,000 wealth management firms in 21 countries.