UK-based fintech, ZILO, has signed an agreement with global investment and retirement savings business, Fidelity International. Specifically, the deal delivers ZILO’s cloud-based transfer agency platform as part of its private assets business operating model.
This follows Fidelity International Strategic Ventures investment in ZILO as part of its £25m Series A funding round in 2023.
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This agreement will integrate ZILO into the infrastructure of Fidelity International’s private assets business. The aim is to provide a modern transfer agency solution to support product growth.
The ZILO platform is gaining momentum in the market, having secured its first client in August 2023.
“We are thrilled that Fidelity International, a leading global asset manager, has opted to partner with ZILO to support a part of its private assets business,” said Andy Wilson, Deputy CEO, Chief Commercial Officer at ZILO.
“It is testament to the quality of our product that a globally renowned investor has engaged deeply with ZILO through an extensive selection process to partner with our firm. It also adds further proof of the progress we are now making with asset managers that insource technology, as well as with the global asset servicers.”
Stuart Warner, Global Head of Technology and Enterprise Services at Fidelity International, added: “We are delighted to be partnering with ZILO to leverage their market leading technology into our private assets business. Transfer Agency systems need to modernise to enable firms to meet operating efficiency gains internally as well as delivering the digital experiences that clients will increasingly demand.”
