FNZ, Virgin, Abrdn launch digital investment platform

Wealth management platform FNZ and Virgin Money have partnered to launch a new digital investment platform for UK retail investors.

The service has been developed by Virgin Money Investments, a joint venture between Virgin Money UK and Abrdn.

“The new digital investment platform and mobile app will offer Virgin Money customers an enhanced digital experience with a range of new features and capabilities that will make investing easier, faster and more convenient than ever before,” said FNZ.

“After a comprehensive selection process, Virgin Money selected FNZ as its partner because of its state-of-the-art technology, its proven excellence in delivering market leading direct-to-consumer (D2C) propositions, its track record of complex platform implementations and ability to deliver innovative end-to-end digital experiences across multiple channels.

“In addition to the front-end user experience, FNZ also provides Virgin Money with full investment operations capabilities covering back-end operations, investor administration and contact centre solutions.

“Virgin Money will also benefit from the ongoing opportunity to further upgrade and expand its proposition in the future, including the upcoming addition of a pension product.

“The direct-to-consumer (D2C) platform provides both first time and experienced investors with direct access to a range of three investment funds to choose from, within an ISA or GIA.

“Everything is managed online and via a dedicated app, ensuring a seamless digital experience.”

FNZ said it administers more than $1.5 trillion in client assets representing over 20 million investors worldwide.

It said it partners with over 650 large financial institutions and 8,000 wealth management firms in 21 countries.

Alastair Conway, CEO UK & Middle East & Africa FNZ, said: “We are delighted to have partnered with Virgin Money to deliver this exciting digital investment platform.

“We have a vision of opening up wealth by providing wealth management platforms that make investing more transparent, accessible and personalized for everyone.”

Virgin Money Investments CEO Jonathan Byrne said: “Through our partnership with FNZ, we’ve designed our new investment service to be accessible and straightforward for everyone – whether someone is an experienced investor or investing for the first time.

“It’s important that consumers feel confident enough to make the most of their money, particularly during these challenging times.”