additiv, Bricknode partner to offer Wealth Management-as-a-Service

By Sunniva Kolostyak

additiv has announced a partnership with fellow Software-as-a-Service (SaaS) provider Bricknode, as the two companies look to enable Wealth Management-as-a-Service for financial institutions.

The Switzerland-headquartered additiv specialises in serving SaaS to the wealth management industry, while Bricknode, a Swedish B2B company, provides highly scalable cloud banking software for back office services.

The collaboration enables financial institutions to select an established end-to-end solution for all their client’s wealth management needs, the companies said in a statement.

additiv will add Bricknode’s Brokerage-as-a-Service, to its broad product range which includes extensive orchestration and client engagement capabilities. The brokerage offering gives users access to fully scalable back-office and record-keeping functionality.

Together, the partnership offers financial institutions a complete and ready package, from a trusted source, to leverage the digital age, Stefan Willebrand, CEO of Bricknode, commented.

“Our partnership with additiv was the natural choice. Bricknode are quickly being recognised as offering cutting edge B2B cloud-based, composable infrastructure software in Sweden and beyond, but with additiv we are taking the breadth of service within wealth management to the next level. Together we can ensure that the wealth management industry can seamlessly access an entire ‘plug-and-play’ digital wealth management platform,” Willebrand said.

Also commenting, Eric Andersson, General Manager Europe at additive, said: “At additiv we recognise the growing need for banks and other financial institutions to offer Wealth Management-as-a-Service. Clients expect to access the services they want through the distribution channel that makes most sense; typically, the channel that is most convenient or has the highest level of engagement. Combining Bricknode’s and additiv’s capabilities, the partnership enables a complete solution for our customers for them to leverage the Wealth Management-as-a-Service opportunity.”

“Wealth Management-as-a-Service represents an expansion opportunity for financial institutions to open up parts of the market that remain underserved and difficult to access. And, as clients are already customers of the distribution partner, it can also lower client acquisition costs. Our partnership with Bricknode is essential to enable this new approach to wealth management for our customers,” Andersson added.