SoFi’s choice: former Twitter COO to take helm as new CEO
Social media’s loss is social finance’s big gain.
Wealth Management
Interview: Dmitry Leus, Imperium Investments – how to protect money?
Reading smart books and applying other successful investment strategies will not lead to success.
SS&C to acquire DST Systems for $5.4bn
Looking for more market opportunities for outsourcing in financial services.
Wealthfront rakes in $75m
The financing was led by Tiger Global Management with participation from existing investors.
DOS & Co to launch London’s first digital private bank
UK-based advisory firm DOS & Co is the latest name in challenger banking.
Envestnet finalises acquisition of FolioDynamix for $195m
Wealthtech firm FolioDynamix is now part of Envestnet.
Top ten wealthtech stories in 2017
A wealth of talent washed over us in the wealthtech space in 2017.
UBS seeks global finance and risk tech CTO
UBS is looking for a chief technology officer (CTO) for finance and risk technology.
Emirates NBD appoints chief digital officer, seeks fintech partnerships
Emirates NBD’s new chief digital officer is on the lookout for partnerships with fintechs.
ABN Amro’s Prospery supported by Five Degrees’ tech
EXCLUSIVE: ABN Amro’s new wealth management proposition, Prospery, has implemented Five Degrees’ Matrix solution.
Prosper with ABN Amro’s Prospery wealth manager
ABN Amro has unleashed Prospery, its online wealth manager offering digital asset management combined with personal coaching by experts.
Allianz accelerates to new digital investments
Allianz with its in-house incubator, Allianz X, has switched gears and pivoted towards a new range of digital investments.
Wealthtech: a market poised for extended growth
Rapid changes are occurring in the wealth management space and the level of disruption in how advice and capital are managed is only beginning. Wealth management is a monumental industry. The players in the space run the gamut from gigantic hedge funds to individuals who manage their own investments. This changing wealth management landscape is driving a significant uptick in transactions.
RBS unleashes robo-advice service via NatWest brand
Wealthtech is coming to the UK high street as Royal Bank of Scotland (RBS) has launched a robo-advice service for around five million customers under its NatWest brand. The service will be available for clients with a minimum of £500 to invest. The total cost of advice, investment and platform fees will be at 0.95%. […]
InvestCloud goes Neon and Gray for wealthtech way
US-based InvestCloud has released two new lines of financial apps – Gray and Neon – to run on its digital platform. InvestCloud Gray digitises client interactions, providing a platform for wealth managers. While InvestCloud Neon enables wealth managers and financial institutions to automate trading, accounting and middle-office workflows. It also supports the real-time processing of […]
Supplement: Inside ETFs Europe Industry Report
Inside ETFs has produced a dedicated industry report for its 7th annual Inside ETFs Europe conference, Europe’s largest and most-respected exchange-traded funds (ETF) conference.
The UK Robo-Advice Innovation Forum: key takeaways
Distilling some of the debates and discussions and showing how robo-advice is changing wealth management and indeed impacting the banking sector.
Regions Bank completes wealthtech modernisation project with SEI
US-based Regions Bank has gone live with the SEI Wealth Platform, following an 18-month transition of its private wealth, asset management and institutional services businesses to the new platform.
Avaloq signs core banking tech deal with Bank of Asia
Bank of Asia, a start-up digital bank in the British Virgin Islands focused on companies that have ties to Asia, has signed for the Avaloq Banking Suite core platform.
Standard Chartered gets personalised for investment ideas in Asia
This time it’s personal. Standard Chartered has launched a digital wealth management tool that can customise investment ideas in a lively and rapid manner. Called Personalised Investment Ideas (PII), the idea is to help “priority banking” clients respond faster to market opportunities with automated investment ideas based on considerations such as their risk profile and […]
Falcon plans to feather more nests with new digital platform
Zurich-based Falcon Private Bank has unveiled a new digital platform, Falcon Pulse, as it looks to boost its ambitions in wealth management. Main features will include an algo trader that daily rebalances a portfolio’s asset allocation to “optimise” performance as well as an idea generating tool that will screen market information to offer the “best […]
Why financial services should be terrified of dispensing wealth management robo-advice
Robo-advisors are software programmes that provide financial advice with minimal human intervention. Software has been providing advice for half a century, from portfolio management to trading strategies to currency management, and more. The novelty is providing robo-advice direct to consumers. Robo-advice costs less than “bricks & mortar & human” services, hopefully harvesting a bigger market. […]
Blooom surpasses $1bn in assets under management
Wealthtech company Blooom says it has surpassed the $1 billion assets under management milestone.
Wealthtech is coming to the High Street
For those in employed in financial services, technology has always been important – integrated systems for operations and execution have been with us for decades. But to the banking customer at a High Street branch the advances in technology may not be obvious. However, slowly and surely innovations from the fintech sector are filtering down to the mass-market.
Luxoft Financial Services acquires Unafortis for new global Avaloq practice
Luxoft Financial Services is moving into the Avaloq implementation and consulting business with the acquisition of Unafortis, a Swiss wealth management consultancy firm.
Banif Bank Malta in business, ops and tech shake-up
Malta-based Banif Bank is harbouring ambitious growth plans and is looking to modernise its technology enterprise-wide, front-to-back office as a key part of this strategy.
ING goes manic for Scalable wealth management dynamic
ING will start a partnership with online wealth manager Scalable Capital as the bank plans a digital investment solution for its retail customers in Germany. Customers of ING in Germany will be able to register in less than 15 minutes through a paperless process. With a minimum investment of €10,000 they can monitor their portfolios […]
ERI and Swisscom team for hosted core banking tech and ops
Switzerland-based core banking software provider ERI has joined forces with another domestic IT firm Swisscom to offer private-banking and wealth management outsourcing services to banks and financial institutions operating in the Swiss financial centres.
Linedata acquires outsourcing firm QRMO
Linedata has expanded its outsourcing business into Asia with the acquisition of Quality Risk Management & Operations (QRMO), a provider of outsourced middle-office, shadow accounting and risk monitoring services to the asset management and securities industries.
Personal Capital extends Series E funding round by $40m
Wealth management company Personal Capital has scored $40 million in additional funding. The money comes from existing investors as an add-on to the $75 million Series E the firm received from IGM Financial in May 2016, reports Finovate (Banking Technology‘s sister company). This brings Personal Capital’s total funding to $215 million since it was founded in 2009 […]
New investment boosts Betterment valuation to $800m
Robo advisor Betterment is now that much closer to achieving unicorn status – courtesy of a $70 million investment from Sweden’s Kinnevik. The investment takes Betterment’s total capital to $275 million, and gives the robo advisor a valuation estimated at $800 million, reports Finovate (Banking Technology’s sister company). Praising the “strong partnership” between his firm and Kinnevik, Betterment CEO […]
Allfunds unveils API platform for wealth management
Allfunds Bank Group is all for APIs with the launch of a new platform targetting the wealth management industry. The platform offers a “fully digitised way” of accessing Allfunds services by providing access to third party applications using standardised APIs which it says comply with emerging regulatory norms such as MiFiD II. Like many other […]
InvestCloud brings fintech incubator to London
US-based InvestCloud is going to launch a fintech incubator and accelerator at its European headquarters in Soho, London. Dubbed InvestCloud Innovation Centre, it will enable start-ups and established firms to create wealth management solutions supported by the InvestCloud platform.
Canadian robo-advisor Wealthsimple arrives in UK
Wealthsimple, a Canada-based online investment management service, is coming to the UK.
Glenmede Trust Company implements Charles River IMS platform
Glenmede Trust Company, a US-based investment and wealth management firm with $34 billion of assets under management, is consolidating its institutional and wealth operations on Charles River’s Investment Management Solution (IMS).
Hong Kong regulator unveils private wealth management charter
Fair play is on its way as Hong Kong’s Private Wealth Management Association (PWMA) has adopted the “Treat Customers Fairly Charter for Private Wealth Management Industry”. Developed by the Hong Kong Monetary Authority (HKMA) and the PWMA, the charter has five “high-level principles” and examples of measures to guide PWMA members in their implementation. These […]
InvestCloud wins deal with South African wealth manager
US-based InvestCloud has a spring(bok) in its step as it has been appointed by South Africa’s Anchor Private Clients to provide digital client communication and client reporting solutions. Johannesburg-headquartered Anchor Private Clients, the private client division of Anchor Group, specialises in investment management and advice for private clients across South Africa and internationally. Its parent […]
HSBC to debut robo-advice investment service
HSBC is entering the robo-advice market with the launch of a new online service for wealth management advice The service will use data and algorithms and will make personal recommendations based on an individual’s circumstances. It is expected to be available by the end of the year. The bank says this will “open up wealth […]
Profile Software’s tech gets new live site in UK, Dolfin
London-based investment management firm Dolfin has gone live with Profile Software’s IMSplus and Axia systems.
Standard Chartered supercharges two Asian start-ups
Standard Chartered has given a big boost to two Asian start-ups with two proof of concept (PoC) projects. Bambu, a Singapore-based robo-advisory for wealth management firm, and KYC Chain, a Hong Kong-based digital identity management firm using distributed ledger technology, were selected from SuperCharger FinTech Accelerator 2.0 – a 12-week accelerator programme in Hong Kong […]
