Itaú Unibanco in wealthtech revamp with Temenos
Itaú Unibanco, Latin America’s largest banking group, has signed for a new core banking solution – Temenos’ T24 – for its international private banking business.
WealthTech
UBS turns to fundinfo for fund data procurement
Private banking giant UBS and its fund platform Fondcenter have commissioned fundinfo to procure and source fund data from fund providers and asset managers.
CNP Cyprus chooses IMSplus for asset management
CNP Cyprus insurance holdings has chosen Profile Software’s IMSplus solution to manage its assets and fund management requirements to achieve “operational efficiency”.
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.
De Volksbank live with new core banking platform, Ohpen
De Volksbank, a retail and SME bank in the Netherlands, has migrated over 122,000 investment accounts to Ohpen’s core banking platform.
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%. […]
Coinbase goes into Custody to let investors store digital assets
Who knows how much more appreciation in the price of Bitcoin will be required to encourage notorious cryptocurrency skeptic and JP Morgan CEO Jamie Dimon to endorse investing in digital assets. But when he does, a new company launched by Coinbase called Coinbase Custody will be there to make sure he does it the right […]
ForwardLane unveils new AI APIs
US-based ForwardLane has introduced a pair of new artificial intelligence (AI) APIs that apply natural language processing and deep learning AI for managing research data and communication, reports David Penn at Finovate (Banking Technology’s sister company). “The two APIs empower the world’s leading asset managers, wealth mangers, and insurers augment the capabilities of their star performers and […]
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.
Aegon opts for Wolters Kluwer’s OneSumX for operational risk
Pension, insurance and investment management firm Aegon is replacing its local risk systems with Wolters Kluwer’s OneSumX for operational risk management. Charles Garthwaite, global head of operational and conduct risk at Aegon, says his company needed “a global solution” that could “comprehensively manage Aegon’s requirements”. Following local implementations in the UK and within its asset […]
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.
AMX selects InvestCloud to power exchange solution
The Asset Management Exchange (AMX) has selected US-based InvestCloud to build a bespoke digital solution for its client base of asset owners and asset managers. The digital interface will let clients access and monitor some $2 billion of investments already on the exchange. Established by advisory firm Willis Towers Watson earlier this year, AMX is […]
Kamco to revamp investment tech with Finastra
Kamco, an investment company in Kuwait with $10.4 billion in assets under management (AUM), has selected Finastra’s Fusion Invest platform.
Warwyck Private Bank signs for ERI’s Olympic core banking system
Mauritius-based Warwyck Private Bank has signed a deal with Swiss banking software tech vendor ERI to implement its Olympic core banking system.
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.
JP Morgan implements Mosaic MSX for fixed income data analytics
Mosaic Smart Data’s real-time data analytics platform, MSX, has been deployed by JP Morgan to optimise the productivity and profitability of its global fixed income sales and trading division.
Credit Suisse strengthens SmartStream deal for derivatives brokerage fees
SmartStream Technologies, the financial transaction lifecycle management (TLM) solutions provider, has revealed that its original agreement with Credit Suisse was recently expanded to include the processing of listed derivatives brokerage fees which began in February of this year.
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 […]
Navient’s $155m acquisition shows the importance of being Earnest
US asset management firm Navient will acquire education finance company Earnest for $155 million in cash as it hunts out new markets. As part of Navient, Earnest will continue as a “distinct brand” and will be led by its current management team, including founders Louis Beryl and Ben Hutchinson. Navient says Earnest clients will continue […]
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.
UK regulator unleashes new hub for sweet asset management
The UK’s Financial Conduct Authority (FCA) is setting up an asset management authorisation hub to support start-ups entering the lively market. In a speech at the “FT Investment Management Summit Europe 2017”, Megan Butler, executive director of supervision – investment, wholesale and specialist, FCA, says the hub will help start-ups as they move between pre-authorisation […]
Calypso lands IT overhaul deal with Invest AD
Abu Dhabi Investment Company (Invest AD) is implementing new treasury and asset management software from Calypso, front-to-back office.
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 […]
Yes Fintech calls on fintech start-ups worldwide to apply for second cohort
Yes Bank, one of the largest banks in India, us calling for start-ups to apply for the second cohort of its Yes Fintech innovation programme.
LarrainVial finally goes live with Temenos’ T24 core banking system
Chile-based LarrainVial has implemented Temenos’ T24 platform – seven years on from signing the contract – as it seeks growth throughout the Americas including in Chile, Colombia, Peru, and the US.
Aegon Cofunds to oust IFDS and its tech
Pension, insurance and investment management firm Aegon has embarked on a large technology project with a number of specialist tech providers – to move the acquired Cofunds business from the International Financial Data Services (IFDS) platform.
Nasdaq buys analytics provider eVestment for $705m
Nasdaq will acquire eVestment, a content and analytics provider used by asset managers and investment consultants, for $705 million funded through a mix of debt and cash on hand. According to Nasdaq, eVestment provides investors a database for both traditional and alternative strategies, including 2,800 individual data points on more than 74,000 investment vehicles. eVestment […]
SimCorp bags three wins in asset and investment management space
SimCorp is smiling as it’s secured three sweet wins in the asset and investment management space with C WorldWide Asset Management, Novo Holdings and FIIG Securities. Denmark-based C WorldWide Asset Management (formerly Carnegie Asset Management) has extended its Dimension licence agreement to include Data Warehouse Manager and will be replacing its current reporting solution with SimCorp Coric’s […]
Trustees Australia merges with deposit marketplace Cashwerkz
Financial services group Trustees Australia and deposit marketplace Cashwerkz have merged as they seek to tap into the cash, term deposit and fixed income investments markets. According to the duo, the new entity has access to over 30 Australian banks, and it will be able to compete well in the $2.1 trillion cash deposit market. […]
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 […]
Blockchain and Bitcoin round-up: 1 August 2017
The world of blockchain and Bitcoin rumbles on with patents, platforms and positives. Our latest round-up features Bank of America, Blackmoon Financial Group, and research from Cognizant. Bank of America (BofA) has filed three new patents using blockchain. On the US Patent & Trademark Office’s website it now reveals the details. Some of the patents […]
Digital asset start-up NextBlock out of the blocks with $20m funding
Toronto-based NextBlock Global, a new digital asset investment company, has got itself off to a good start with the closing of an “oversubscribed” $20 million financing round. Like many other start-ups, NextBlock says it’s “disruptive” – and is setting its targets on the new digital asset economy. It says these assets, like Bitcoin and Ethereum, […]
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 […]
