DriveWealth, a financial services API developer, has teamed with robo-advisor developer Bambu to provide an end-to-end robo-advisory platform for the wealth management industry.
The API suite of DriveWealth offers onboarding, ordering, funding and reporting of US stock markets, and can integrate with any mobile platform. Bambu provides the robo-advisor software which is capable of automating the processes of financial planning, saving and investing.
Together the companies can offer an end-to-end solution to support a consumer’s investment portfolio.
The service has an advisor dashboard which gives a single-page overview of all client activities, actionable client alerts and tracking of invested capital and cash balances. A second dashboard is provided to users, giving them tools to boost their performance by simulating, creating and rebalancing portfolios.
finally, the new service empowers clients to manually adjust their investment goals, access live investments and perform analysis on investments.
DriveWealth CEO Robert Cortright said, “We are excited to join forces with Bambu, an innovator in goal-based planning and artificial intelligence, to launch a streamlined product for wealth managers seeking to offer a unique, easy-to-use investing platform directly to their retail customers. We look forward to a long-term partnership to advance the development of financial ecosystems globally.”
Last month, Bambu raised $3m in its Series A round led by Franklin Templeton Investments. The round was also supported by Singapore-based family office Octava and Japanese investor Mamoru Taniya.
DriveWealth also picked up a new batch of funding this year, recently securing $21m in its Series B round. Raptor Group Holdings, SBI Holdings, and Point72 Ventures led the funding and brought its total venture financing to $29.4m.
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