On Thursday, Etops AG, which is based in Altendorf in the canton of Schwyz, announced that it had completed a full takeover of the Zurich-based Evolute Group AG. As detailed in a press release issued jointly by the two FinTech firms covering this matter, they now intend to accelerate the construction of an open ecosystem in the area of wealth management. This step would combine the strengths of Etops in its role as a service and technology provider with those offered by Evolute as the specialists in cloud-based CRM and portfolio management software, particularly in the fields of KYC (Know Your Customer), money laundering legislation, order management and regulatory compliance.
The company merged under the roof of Etops is planning to offer an end-to-end solution with the aim of covering the entire value chain in the area of wealth management and “thereby secure a unique market position”, the press release explains further. Moreover, Evolute’s recently launched virtual marketplace for financial products and services will provide additional impetus for this innovative offering.
“Our shared goal of an open ecosystem with an integrated intelligent marketplace and one-stop solutions makes us ideal partners”, comments Myriam Reinle, CEO of Evolute, in the press release. In the newly formed company, she will be heading up the Marketing, Sales and Business Development division.
Pius Stucki is to remain CEO of Etops. He was also keen to underline the efficiency gains and competitive advantages that an open ecosystem would promise: “The takeover of Evolute takes us a big step closer to this and reinforces our strategic direction”, Stucki explains in the press release.
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