Milan-based digital wealth and asset management software provider Objectway has acquired German core banking solutions firm Die Software Peter Fitzon (DWS) for an undisclosed sum.
Objectway was founded in 1990 and provides financial institutions with technology to support their transformation programmes. This includes supplying front-to-back, intelligent and cloud-ready solutions to boost consumer engagement, front- and back-office operations.
DSW provides core banking solutions in German-speaking countries in Europe. Its platform caters to the needs of private banks, retail banks and central banks in the Dach area and in Luxembourg.
The acquisition will see Objectway strengthen its wealth and asset management offering through a core banking platform to support the “digital transformation of private banks, retail banks, wealth and asset managers”, driving its future expansion in Emea.
Global expansion
Luigi Marciano, founder and chief executive of the Objectway Group, said: “Die Software team has done a fantastic job in developing a world-class banking platform with a loyal client base. Objectway places great importance on continuing to develop and evolve core banking platforms of its customers and to build long-term commercial relationships.
“We aim at creating a unique and complete banking suite that combines Die Software solutions with Objectway’s cutting-edge technologies in digital client management, investment advisory and portfolio management, to be deployed through business process as a service (BPaaS) and software as a service (SaaS) models.
“We will also promote the global expansion of Die Software solutions by taking advantage of our presence in UK, Italy, Benelux and beyond.”
Klaus Friese, Die Software co-owner and managing director, added: “Our companies have a common DNA rooted in inherent culture of professionalism and drive for dependable perfection. We also believe in strong customer focus, delivering value and service quality in partnership with our clients.
“This makes our combined business highly promising for both firms, but also for our current and future customers, giving our talented and ambitious teams exciting goals and achievements to aspire for.
“The whole Die Software team is committed to driving forward our new group strategy and with such an established international player we will be able to support our development in the long-term guaranteeing continuity, stability and an exciting future of accelerated growth in new markets”.
