Global wealthtech NeoXam announces ‘milestone’ Melbourne opening

European wealth technology developer NeoXam has hailed a “pivotal step” in its APAC expansion, announcing the opening of its second Australian office.

The Paris-headquartered fintech – boasting big-name clients including the Singapore Exchange, Groupama and the National Bank of Canada – will set up shop in Melbourne, aligning, it says, with its goal to extend its localised servicing model.

NeoXam said its new Melbourne base will enable it to not only deliver “timely service and implementation support to clients in Victoria” but also “around-the-clock” support to its global client base.

NeoXam Australia country head Daniel Joseph noted the “rapid expansion” of the firm’s client base in Australia, with the wealthtech confirming a recent deal with BNP Paribas to back its Post-Trade Data Management offering.

“Especially in relation to the recently announced Investment Data Management service partnership with BNP Paribas, we saw the need to open a second office in Australia, to be even closer to our clients, and the asset owner community in Melbourne,” Joseph said.

The firm launched its first Australian office in Sydney back in 2023, noting significant growth in the local market since then.

NeoXam is among the world’s leading developers of data management, regulatory compliance, and investment solutions for the financial services sector (including asset managers, asset owners, and banks), serving more than 10,000 users and processing more than €25 trillion (AU$44 trillion) worth of assets each day.

NeoXam Australia provides a range of investment data solutions (data management, performance analytics, portfolio management, client reporting, and reconciliation software), boasting a modular and fully unified data solution for front-to-back investment operations.

NeoXam managing director for APAC Tim Versteeg added that the opening of the Melbourne office serves as a “major milestone” in the firm’s APAC journey, demonstrating its “deep commitment to serving our clients where they are, with dedicated, in-market teams who understand their challenges and can support our solutions locally.”