Fintech and automation services firm Empaxis has announced a partnership with EXL, a data analytics and digital operations and solutions company, to help wealth management firms in transforming their operations.

Headquartered in the US, Empaxis specialises in middle- and back-office operations for wealth and asset managers.

Through the collaboration, the companies are expected to expand their wealth management solutions offerings.

With the help of its end-to-end process automation along with outsourcing capabilities, Empaxis is said to help companies process quickly, lower costs, expand seamlessly, and deliver better customer services.

Empaxis founder and CEO Stephen Van de Wetering said: “We’re excited to be working with EXL. They’re an excellent partner.

“Combining efforts allows us to offer our highly dedicated and robust middle- and back-office services to enterprise-scale, global wealth managers. This partnership will provide exceptional value to clients in this space.”

The partnership is expected to leverage Empaxis’ middle- and back-office expertise along with EXL’s capabilities in data, analytics, and digital operations.

Besides, the collaboration is expected to enable the companies to work together to develop solutions and services that will support wealth management firms to automate middle- and back-office operations.

EXL is said to bring its expertise in analytics, data, cloud, artificial intelligence (AI) and machine learning to develop faster and scalable solutions. It executes complex operations for companies globally in industries including banking and financial services, insurance, media, healthcare, retail and others.

EXL emerging business executive vice president and head Narasimha Kini said: “Working together with Empaxis, we are able to provide the wealth management industry with the right combination of breakthrough technology, data-led operational improvement solutions and human ingenuity to transform their businesses. 

“By combining our two businesses, we can provide our clients end-to-end support services that will help streamline their operations to gain a competitive advantage.”