The US big technology house and a wealth management platform business are forming a strategic pact.

Big tech giant Microsoft has entered a five-year strategic partnership with wealth management platform FNZ.

The pact will see FNZ “enhance its market-leading platform using Microsoft’s AI and cloud technologies, with a focus on delivering more personalised, intelligent and resilient digital wealth experiences at scale,” a statement from the firms said yesterday. (See a separate, unrelated report about FNZ here.) 

The partnership will cover the following areas:

-- Enhancing FNZ’s platform through AI and cloud computing; 

-- Transformation across financial institutions, for example, through more personalisation, automation and operational efficiency; 

-- Co-creating next-generation digital wealth solutions, including AI-powered tools for advisors and investors; and 

-- FNZ will use Microsoft Fabric to provide deeper insights and more tailored services for wealth managers and their clients.

As part of the pact, FNZ will put Microsoft Azure AI Foundry at the heart of its platform.

FNZ, which will bring scale to the partnership, has more than 650 financial institution partners, more than 26 million end-investors, and almost $2 trillion in assets under administration.

"Partnering with Microsoft allows us to accelerate our AI-led roadmap and enhances our ability to deliver personalised, intelligent and resilient solutions to our clients, strengthening our position of leadership,” Roman Regelman, group president, FNZ, said. 

Bill Borden, corporate vice president, worldwide financial services, Microsoft, added: “Our partnership brings together Microsoft’s AI and cloud technologies with FNZ’s global platform and expertise in wealth management to deliver insights that will lead to more impactful and personalised experiences for advisors and their clients.”