New fintech start-up Step Fourth launches in the UK
Step Fourth, a new digital fintech start-up developing technology solutions for wealth managers, stockbrokers, consolidators and platform providers, has officially launched in the UK.
Founded in 2021 by tech entrepreneurs Stewart Foster and Pete Caddick, the start-up is privately funded and based in Birmingham.
According to Step Fourth’s research, the UK wealth and investment market “dramatically lags” other industries when it comes to adoption of technology.
To help tackle this, the company says it aims to be the first in the market to provide client-facing technologies “that are functionality rich, out the box and available at a much lower price point”.
Step Fourth’s first product is Blue Nova, which will allow investment companies to consolidate client data from multiple sources into a centrally managed, secure repository. It will also enable firms to offer their clients and end consumers access to a portal containing an overview of their investments. The firm says Blue Nova will be ready for deployment in 2023.
Founder and CEO Stewart Foster says he believes the current digital offerings in the market “lack innovation and do not provide what the market truly needs”, adding that Step Fourth aims to build an “affordable” suite of solutions that will set a benchmark for the wider sector.
In its pre-launch phase, the start-up acquired assets of Birmingham-based wealthtech provider IMVS in April this year, and appointed wealth management industry veteran Paul Harris as chairman in May.