State Street partners with Apex Fintech
03 September 2023 US
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State Street Corporation and Apex Fintech Solutions have announced a partnership that includes a minority investment by State Street into Apex Fintech Solutions.
State Street will leverage Apex’s digital custody and clearing platform to expand State Street’s wealth services offerings to the global wealth management industry.
Apex Fintech Solutions is a global financial technology platform powering investing infrastructure, digital custody, clearing, and access to US markets with more than 200 clients and 22 million brokerage accounts that hold over US$200 billion in assets worldwide.
Apex delivers a flexible, modular platform that allows wealth managers and fintech innovators to launch new products and integrate across the ecosystem.
According to the firm, the State Street/Apex partnership will deliver a differentiated, fully digital, globally scalable, custody and clearing solution and experience for wealth advisors and self-directed wealth platforms as well as their clients around the world.
State Street aims to bring its global client base, institutional infrastructure, core custody and platform services, and its ecosystem of specialist partners.
Through Charles River Development Wealth, State Street delivers front office software and data solutions to large enterprise wealth managers, reporting more than US$3 trillion in assets.
Apex brings its expertise in modern, API-driven, digital wealth solutions that democratises access to investing, clearing and execution capabilities at scale, along with its digital, scalable custody platform that will support advisors serving high-net-worth clients while also enabling self-service for the mass affluent.
According to the firm, together, State Street and Apex plan on building upon State Street’s existing services to the wealth management industry to deliver the first global, digital wealth custody solution.
John Plansky, executive vice president and head of State Street Wealth Services, says: “At State Street, our institutional investor clients look to us as an essential partner, to deliver leading investment services and platforms, data, expertise, and solutions that accelerate performance and decision making.”
“This partnership with Apex augments our wealth services capabilities and positions us to bring the same level of focus and execution excellence, as we provide technology and services to the growing global wealth customers’ investment goals.”
Bill Capuzzi, CEO of Apex Fintech Solutions, adds: “Wealth management is on the precipice of enormous change driven by rapid market innovation and investor expectations.
“For firms to capitalise on that change, they need backend systems and capabilities that are fast, flexible and secure. For over a decade, Apex has fueled the fintech revolution by solving the hard challenges needed to expand and improve investing for everyone.”
State Street will leverage Apex’s digital custody and clearing platform to expand State Street’s wealth services offerings to the global wealth management industry.
Apex Fintech Solutions is a global financial technology platform powering investing infrastructure, digital custody, clearing, and access to US markets with more than 200 clients and 22 million brokerage accounts that hold over US$200 billion in assets worldwide.
Apex delivers a flexible, modular platform that allows wealth managers and fintech innovators to launch new products and integrate across the ecosystem.
According to the firm, the State Street/Apex partnership will deliver a differentiated, fully digital, globally scalable, custody and clearing solution and experience for wealth advisors and self-directed wealth platforms as well as their clients around the world.
State Street aims to bring its global client base, institutional infrastructure, core custody and platform services, and its ecosystem of specialist partners.
Through Charles River Development Wealth, State Street delivers front office software and data solutions to large enterprise wealth managers, reporting more than US$3 trillion in assets.
Apex brings its expertise in modern, API-driven, digital wealth solutions that democratises access to investing, clearing and execution capabilities at scale, along with its digital, scalable custody platform that will support advisors serving high-net-worth clients while also enabling self-service for the mass affluent.
According to the firm, together, State Street and Apex plan on building upon State Street’s existing services to the wealth management industry to deliver the first global, digital wealth custody solution.
John Plansky, executive vice president and head of State Street Wealth Services, says: “At State Street, our institutional investor clients look to us as an essential partner, to deliver leading investment services and platforms, data, expertise, and solutions that accelerate performance and decision making.”
“This partnership with Apex augments our wealth services capabilities and positions us to bring the same level of focus and execution excellence, as we provide technology and services to the growing global wealth customers’ investment goals.”
Bill Capuzzi, CEO of Apex Fintech Solutions, adds: “Wealth management is on the precipice of enormous change driven by rapid market innovation and investor expectations.
“For firms to capitalise on that change, they need backend systems and capabilities that are fast, flexible and secure. For over a decade, Apex has fueled the fintech revolution by solving the hard challenges needed to expand and improve investing for everyone.”
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