The latest technology news in the wealth management sector from around the world.

State Street, Apex Fintech Solutions
US-listed State Street has partnered with Apex Fintech Solutions, taking a minority stake in the firm to use its digital custody and clearing platform and expand State Street’s wealth services offerings, it announced yesterday.

Together, the firms aim to deliver a global digital wealth custody solution.

Apex Fintech Solutions’ platform underpins investing infrastructure, digital custody, clearing, and access to US markets. It supports more than 200 clients and 22 million brokerage accounts with over $200 billion in assets worldwide.

Through Charles River Development Wealth, State Street delivers front-office software and data solutions to large wealth managers, covering more than $3 trillion in assets.

“This partnership with Apex enhances our wealth services capabilities and positions us to deliver the same focus and execution we bring across our technology and services, helping global wealth clients pursue their investment goals,” said John Plansky, executive vice president and head of State Street Wealth Services.

“Wealth management is on the verge of enormous change, driven by rapid innovation and rising investor expectations,” said Bill Capuzzi, chief executive officer of Apex Fintech Solutions. “To capitalize on that change, firms need back-end systems that are fast, flexible, and secure.”