Fin365 to build one-stop-shop for financial firms

The Victorian-based software solution company for financial services has acquired Qwrk Outsourcing to formulate a one-stop-shop for outsourced services as demand grows.

Qwrk was founded in 2010 as a paraplanning firm that transitioned into a full-suite back-office solutions provider. It has presence across Australia and the Philippines and is known for specialised support for financial services firms.

Qwrk will provide outsourcing roles to complement Fin365's software offerings, which includes the creation of integrated service model that combines both technology and human expertise.

Fin365's offers Microsoft-leveraged solutions such as Dynamics 365, Power Automate, Power BI and Copilot.

Commenting, Fin365 chief executive Stephen Handley said the acquisition is a "natural evolution" of an existing partnership.

"Qwrk has been providing outsourcing resources to Fin365 and our customers for over four years. To meet the growing demand, we've jointly designed a bespoke recruiting and development strategy, ensuring we attract and retain the right talent," Handley said.

"Through this collaboration, we've come to know the Qwrk team very well. They're great professionals who share our values and our vision of improving the access and affordability of financial services."

The acquisition comes as more are looking for technology consultation with "overwhelming" demand at the rapid rate of innovative developments in the space.

"... we have a situation where innovation is outpacing adoption, It's very difficult for our customers to keep up and ensure they're taking maximum advantage," Handley added.

"This has led to an increase in the need for technology consulting and resources such as CTOs, business analysts & software developers.

"However, our customers were finding it difficult to find service providers who combined the technical depth and financial services industry experience."

Fin365 general manager of sales and marketing Jess Bulafkin said the "one-stop-shop" approach can better track quality and customer satisfaction.

"It's quite unusual for a software provider to also offer technology outsourcing services. Generally, they prefer to refer to third-party consultants. For a variety of reasons, we've found this approach has generally failed to deliver the optimum outcome for our customers," Bulafkin said.

"By building an integrated software and services business, we can provide our customers a 'one-stop-shop' for a broader set of needs and ensure the highest level of quality and customer satisfaction."

Qwrk managing director and founder Jo Hall explained the nature of outsourcing is rapidly evolving.

"While demand for traditional outsourcing roles such as administration, paraplanning, and compliance remains strong, we're seeing even faster growth in the need for technology and data-focused roles," Hall said.

"Outsourcing today isn't about offloading unwanted tasks-it's about finding team members with the right skill sets and the right attitude, no matter where the talent is located.

"Merging Qwrk Outsourcing and Fin365 ensures our clients benefit from more integrated services, and our people benefit from being part of a shared vision and purpose."