State Street Corporation (NYSE:STT) and Apex Fintech Solutions announced today a strategic partnership that includes a minority investment by State Street into Apex Fintech Solutions.

State Street will leverage Apex’s digital custody and clearing platform to expand State Street’s wealth services offerings to the global wealth management industry.

The State Street/Apex partnership will deliver a differentiated, fully digital, globally scalable, custody and clearing solution and experience for wealth advisors and self-directed wealth platforms as well as their clients around the world. State Street will bring its global client base, institutional infrastructure, core custody and platform services, and its ecosystem of specialist partners.

Apex brings its market-leading expertise in modern, API-driven, digital wealth solutions that democratizes access to investing, clearing and execution capabilities at scale, along with its digital, scalable custody platform that will support advisors serving high-net-worth clients while also enabling self-service for the mass affluent.

Together, State Street and Apex will build upon State Street’s existing services to the wealth management industry to deliver the first truly global, digital wealth custody solution.

“At State Street, our institutional investor clients look to us as an essential partner, to deliver leading investment services and platforms, data, expertise, and solutions that accelerate performance and decision making,” said John Plansky, executive vice president and head of State Street Wealth Services. “This partnership with Apex augments our wealth services capabilities and positions us to bring the same level of focus and execution excellence, as we provide technology and services to the growing global wealth customers’ investment goals.”

“Wealth management is on the precipice of enormous change driven by rapid market innovation and investor expectations,” said Bill Capuzzi, chief executive officer of Apex Fintech Solutions. “For firms to capitalize on that change, they need backend systems and capabilities that are fast, flexible and secure. For over a decade, Apex has fueled the fintech revolution by solving the hard challenges needed to expand and improve investing for everyone. We look forward to working with State Street to drive the future of wealth management by enabling the global advisor-based market to launch, scale and innovate at unprecedented speed.”