The State Street Corporation (NYSE: STT) and Apex Fintech Solutions have today announced a strategic partnership that includes a minority investment from State Street in Apex Fintech Solutions.
State Street will take advantage of APEX’s digital custody and liquidation platform to expand State Street’s wealth services in the world wealth management industry.
The State Street/Apex partnership will offer a differentiated, fully digital, worldwide scale, diligence and clearance clearance and experience for wealth consultants and wealth platforms with self-directed wealth as well as their customers around the world. The State Street will bring the global customer base, institutional infrastructure, basic custody and platform services and the ecosystem of the special partners.
APEX brings its top market experience in modern API -based digital -based digital solutions, which democratize access to investment, clearing and executing capabilities on a scale, along with the digital, scaled customers, which will support them, Affluent.
Together, State Street and Apex will be based on the existing State Street services in the wealth management industry to deliver the first truly global digital wealth solution.
“In State Street, our customers for our institutional investors look like a key partner to provide top investment services and platforms, data, expertise and solutions that accelerate performance and decision making,” said John Clasky, executive Vice -President of the Wealth. “This collaboration with APEX increases the potential of our wealth services and puts us to bring the same level of focus and execution as we provide technologies and services to the growing investment targets of wealth customers.”
“Wealth management lies on the cliff of huge change driven by rapid market innovation and investor expectations,” said Bill Capuzzi, CEO of APEX Fintech Solutions. “For businesses to benefit from this change, they need backend systems and capabilities that are fast, flexible and safe. For over a decade, APEX fueled the Fintech revolution by resolving the harsh challenges needed to expand and improve investment for everyone.