London-Colombo fintech WealthOS demonstrates breakthrough migration capability

The technology built by WealthOS, a London/Colombo-based cloud-native wealth tech SaaS, has powered the migration of 126,000 UK ISA and Junior ISA accounts from Embark (FNZ) to Quai Digital, its flagship UK client and a London-based white-label digital savings and investment platform services provider.

The migration was conducted on behalf of The Children’s ISA (TCI), the UK’s specialist provider of children’s ISA (tax-free savings) products, and is one of the largest completed migrations out of FNZ to date. 

The migration of 126,000 accounts was completed just seven months after Quai Digital won instruction from TCI. TCI had depended on FNZ and its platform partner Embark for platform management services for the last nine years. 

TCI Founder Mark Albinson said: “We selected Quai Digital after searching for a partner that could deliver quickly and offer both modern technology and a practical, client-first service. Where others struggled to move fast or handle inflexible processes, Quai was always responsive, pragmatic, and had a consistent willingness to find workable solutions, always with the protection of the end-investor in mind. The Quai API-driven platform, powered by WealthOS technology, enabled a clever, iterative product development rollout that eased significantly the pressures of migration, and now provides the scalability we need to modernise and expand our operations.” 

Following engagement with Embark (FNZ), the migration program itself took just five months. This included the physical migration of investor account data and the bulk transfer of cash and assets, completed in just four weeks.

The successful completion of this migration to Quai Digital’s operating platform, which was powered by WealthOS technology built in Sri Lanka, enabled an all-in-one transition process—a clear break from the industry’s more standard phased approach. 

WealthOS Co-founder and COO, Chamat Arambewela said: “Our ability to release product developments on a weekly basis throughout the integration process is a breakthrough in the wealth management space. This creates a collaborative, iterative transition process, which means that while Quai Digital and WealthOS focus on building our clients’ systems and platforms, our clients can build and test their new workflows in tandem. By the time migration is ready to happen, together, we have well-rehearsed plans and flows that allow us to safely migrate large volumes of data and turn on trading with no business impact.”

Quai Digital CEO Tony Webb said: “By combining our operational and regulatory expertise with WealthOS’ specialist technology within our platform, we’re setting a new standard for complex migrations, delivering reliability at scale and giving clients the continuity and service their investors depend on.” 

WealthOS is Sri Lanka’s only B2B FinTech SaaS business, and this migration showcases its ability to build and design exceptional software right out of Sri Lanka and apply it to one of the world’s largest wealth management markets. 

WealthOS Co-founder and CEO Anton Padmasiri said: “We launched a brand new tax wrapper, integrated it with a digital Junior Individual Savings Account (JISA) proposition, and migrated 126,000 accounts representing £ 80 million in assets in just three months. This demonstrates exactly how we can help organisations go to market three times faster.

“We understand there’s natural caution in the market about platform migrations, but when done with the right technology and partnerships, it can be executed smoothly. Both Quai and TCI have been exemplary partners throughout. Most importantly, no one lost sight of what truly matters—ensuring hundreds of thousands of children, including many in care, continue to benefit from their savings without any disruption. That’s the kind of outcome our technology is designed to deliver,” he added.