Under the new alliance Spitfire clients will be able to access the neobank Volt’s soon to be launched deposit products in an effort for the bank to cement its position as a ‘one stop shop’ for investors.
Customers of the two companies will have the ability to view and trade their assets in a single portal, including viewing and trading global assets.
Volt co-founder and chief executive Steve Weston said the collaboration between the two companies made sense as they shared the same vision.
“Spitfire and Volt share an ambition to improve their customers’ lives through technology. This partnership will contribute to a seamless and transparent investment experience and better connect Australians to international opportunities.”
Mr Weston said Volt wasn’t constrained by legacies and this partnership was part of their vision to show Australians how to better manage their money.
“Volt isn’t constrained by legacy systems that have stifled innovation at incumbent banks and as we approach our customer launch, partnerships like this help us show Australians that there is a better way to manage their money and achieve their financial goals,” he said.
Spitfire’s head of distribution David Storm said the partnership would bring wealth management into the 21st century.
“Spitfire is changing the game in wealth management, and our cloud native platform will deliver unmatched transparency, flexibility and functionality to Volt’s customers in a secure environment.”
“This partnership is a tremendous step in bringing wealth management into the 21st Century, and in allowing planners and advisors to act in the best interests of their customers,” Mr Storm said.