Tag: Wealth management

It is no secret that regulators around the world are becoming increasingly tougher on financial services companies. There is an unrelenting level of regulation being drafted and fines are hitting eyewatering sums. A report from Finbold pegged fines for non-compliance with AML, KYC and data privacy regulations at a total of €12bn in 2020.

Open data and payments platform Moneyhub has partnered with financial planning and banking app Pennyworth, to redesign digital banking for the aspiring-affluent customer.

Digitalisation is rapidly transforming investment management and firms are making it a priority. Bricknode, a cloud financial services software developer, has released a new report titled ‘Digital transformation in investment management’. In the report, it covers how cloud and software-as-a-service (SaaS) models are helping investment management firms of all sizes transform their digital services.

As more wealth management companies move towards digital investment guidance and direct-to-investor models, Kidbrooke has asked the question if digital channels can match the teams of physical advisors in terms of quality.

With the ESG-focused principles of MiFID II regulation coming into force, wealth management firms need to be prepared for its impact and how they can future-proof their investment processes.

Financial advisor Wealth Wizards has launched Turo Wellbeing, which gives advice firms, life assurers, banks and building societies the tools to help customers improve their financial wellbeing.

Sweden-based Bricknode, a cloud financial services software company, sees itself as the SpaceX of the financial industry.

Germany-based investment API developer Upvest has reportedly collected $42m in its Series B funding round.

Indonesia-based FinTech platform Finku has reportedly raised $2.8m in its seed funding round.

Traditionally, wealth management has been for the wealthy. The average Joes and Janes have often been skipped out on by big wealth managers due to little revenue incentive to capture that market.