Talanx and FinLeap create Elinvar for asset management digitalisation
German insurance firm Talanx and fintech developer FinLeap have founded a joint venture to provide a digital platform for independent asset managers and private banks.
Under the name Elinvar, the start-up offers a white-label platform – so asset managers can offer their own brand and corporate design. The solution includes new client onboarding, automatic creation of orders, and administration and communication with customers. It is subject to the approval of Germany’s Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht).
Harry Ploemacher, chairman of the board of management of Talanx Asset Management, under whose leadership the partnership is run within Talanx, says Elinvar combines the “provision of technology and financial expertise”.
Elinvar, which is headquartered in Berlin, will be fully licensed. Finleap says it expects to start with the first partners in spring 2017. Talanx and FinLeap each hold 37.5% of Elinvar. Through the other 25%, the “founders and the team have made a long-term commitment” to Elinvar.
The name “Elinvar” is a nod to Charles Édouard Guillaume, who won the Nobel Prize in Physics in 1920 for his invention of the eponymous alloy of iron, nickel and chromium. Guillaume improved scientific precision instruments and the fintech Elinvar wants to do the same for the “digital performance” of independent asset managers and private banks.
Spring in its step
FinLeap has had a lively year.
It recently teamed up with fintech analyst Devie Mohan to launch Burnmark, an independent research company focusing on trends in the industry.
FinLeap and SolarisBank created the “first” global banking platform, called Solaris – a Banking as a Platform (BaaP) service.
By the way, Mohan interviewed FinLeap’s co-founder, Ramin Niroumand for Banking Technology.