FNZ scores deal to provide blockchain tech to South African investment industry
Wealthtech provider FNZ has struck a deal with FinSwitch to provide a new blockchain-enabled administration utility for the South African fund management industry.
Under the new deal, a cloud-based and blockchain-enabled application based on FNZ tech will, from later this year, enable trading, pricing, reconciliations, account opening, transfers, sharing of instrument data, and regulatory reporting for FinSwitch clients.
Nick Baikoff, MD, FinSwitch, says: “FNZ was selected after a comprehensive and competitive tender process. We look forward to working with them to implement this solution, that will deliver significant value for our clients in the form of reduced cost, complexity and risk.”