cleversoft is driving forward its expansion into an integrated WealthTech and RegTech platform with the acquisition of FAIT

The cleversoft group, a leading provider of cloud-based RegTech services for financial service providers, announces the successful completion of the acquisition of the Austrian company FAIT Internet Software GmbH. Following the granting of all necessary regulatory approvals, the agreement signed in May is now in effect. The acquisition lays the foundation for cleversoft to deliver end-to-end processes and to further expand into an integrated WealthTech and RegTech offering. FAIT complements the existing offering in particular with the established investment advisory platform PIA, as well as modular APIs and calculation services for portfolio analysis and investment advice. This provides cleversoft with key technological building blocks for the further development of its future WealthTech platform. Building on the existing solutions, clients will in future receive a comprehensive portfolio of services from a single source—ranging from investment and portfolio analysis to digital advisory processes and compliance.  

To drive the integration forward in a targeted manner, FAIT founder and former CEO Christian Grohs will take over responsibility for the Digital Advisory & Compliance business unit on 1 September. In doing so, cleversoft is consolidating its expertise and products in the areas of digital financial advice, asset management and regulatory compliance.   

Florian Clever, founder and CEO of the cleversoft group, is convinced: “With his experience and deep understanding of digital financial advice, Christian Grohs will play a central role in the further development of our WealthTech offering. For us, the successful integration of FAIT is far more than just an acquisition. It is a key milestone on our journey to offer financial institutions an end-to-end platform -with strong integration of advisory, compliance and reporting processes across the entire value chain. And it lays the foundation for our ambition to build Europe’s leading integrated WealthTech and RegTech platform for financial service providers.” 

“The future of digital financial advice lies in viewing consulting and compliance not as separate entities, but as part of a seamless digital process,” explains Christian Grohs, Managing Director Digital Advisory & Compliance at the cleversoft group. “Our aim is to offer banks, asset managers and wealth managers an integrated combination of advisory services, portfolio management and regulatory compliance—either as an end-to-end solution or on a modular basis via services and APIs.” 

For FAIT clients, the completion of the transaction means a significantly expanded range of services; at the same time, there will be no immediate changes to contact persons or existing solutions. Looking ahead, services, data models and APIs are to be more closely integrated so that users can also benefit from end-to-end processes in advisory, portfolio management, compliance and reporting. Joint technological development is intended to reduce complexity whilst increasing efficiency and scalability. cleversoft is thus consistently continuing its growth trajectory in an increasingly regulated market environment. 

About FAIT

FAIT (Financial Analysis and Investment Technology) is an Austrian FinTech company with more than 25 years of experience in developing digital solutions for investment advisory and wealth management. The company provides banks, FinTechs, and insurance companies with software products, APIs, and consulting services related to digital securities advisory.