Wealthtech (Wealth Technology) is a subset of fintech. Wealthtech companies offer digital solutions to enhance personal and professional wealth management. Wealthtech uses pioneering technologies such as artificial intelligence and big data to provide improved customer services through Robo Advisors, digital brokerage systems, portfolio management and more to manage risk and customer experience in a better way.
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Here are some companies who are reshaping the wealthtech niche with their digital solutions.
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Cred
Cred is a finance company based in New York that helps financial institutions offer the right financial product. They believe that each client is different. They offer products in which the AI helps identify the client’s characteristics in real time and automates client specific actions in their portfolios to offer them a personalized experience. On-going client updates, auto-personalized actions, client analytics, and seamless integration are some of Cred’s features.
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Responsive.ai
Responsive.ai is based on a hybrid wealth advisor service model which means a combination of humans and digital capabilities. It is a good platform for wealth advisor solutions and helps wealth manager’s work smarter by using artificial intelligence. The software empowers advisors with roles in private wealth management or banks by helping them in decision making and sustaining long term relationships with their clients.
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Bambu
Bambu is a Singapore-based digital wealth technology platform and has subsidiaries in Hong Kong, Malaysia and the United Kingdom, as well as representatives in Africa, Europe and America. Bambu’s intelligent API and SaaS platform offers their investors a natural experience in finding the right investment strategy for their needs. Apart from being a leading financial institution providing wealth management solutions, Bambu also offers a dashboard that creates talking points for the relationship managers to help them serve their clients better.
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Sarwa
Sarwa is a Dubai-based online financial advisory firm. It’s the first hybrid wealth advisor in this region. Sarwa aims at making the financial experience easy by helping you maximize your returns with the level of risk you are comfortable with. The platform’s algorithms and human advisors help Sarwa’s clients open an account in minutes via facial recognition, and their intuitive dashboard rebalances the portfolios when the market is not performing well.
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Handcheque
Handcheque is a Vienna based company that facilitates easy payments for its customers. They have developed a smartcard that enables customers to use just one card for all purposes, i.e. the handcheque smartcard by a simple touch can be converted into debit card, credit card, can be used to withdraw cash, you can also connect all your loyalty cards to it. The card comes with an app that lets you manage all your cards. The data it collects from the app helps to offer tailored services and products based on interests.
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AdviceRobo
AdviceRobo is an European company that has developed a software for predictive risk and technology by using artificial intelligence. The company collects the customer data, calculates the risk and customer profiles for the clients. AdviceRobo is a leading psychographic credit scoring company. The psychographic credit score measures financial attitude, motivation and behavior of people through an online interview. Their tool called MyCreditRobo is an online interview tool that generates these scores. The scores help the lenders accept and reject the files hence mitigating the risk
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Additiv
Additiv is a Switzerland based SaaS provider that provides its services to accelerate digitization of banks, asset managers and other wealth management platforms. It gives financial institutions the required intelligence in the form of its Digital Finance Suite (DFS) to help them transform digitally. Their product ranges includes the Hybrid Wealth Manager and Wealth Robo Advisors. With its Financial Plug-ins, it also allows you to build your own products, using the comprehensive API Catalogue.
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Appway
Headquartered in Switzerland, Appway is one of the leading software companies with more than 420,000 users worldwide. Appway supports the digital transformation of customer centric financial organisations. It helps with acceleration of core business processes, such as the on boarding of new clients, managing regulatory reviews for wealth and digital banking platforms and more. Companies like Credit Suisse, HSBC, J.P. Morgan, Deutsche Bank and many others use Appway to enhance their digital platforms.
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Xignite
Xignite provides market data cloud solutions to fintech companies. This data is easily accessible via APIs stored in the Amazon Web Service (AWS) public cloud. It has been the first Data-as-a-Service solution to deliver data from the AWS cloud. This service enables you to manage your reference market data real time across all systems and cloud applications. Some of Xignite’s clients include leading financial institutions, exchanges and market data vendors like Nasdaq , SIX Financial Information and BMO.
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Doxim
Doxim is the customer communication management platform that enables customer communication for financial and regulated markets. The Doxim Customer Engagement Platform helps the institutions transform their customer experience effectively throughout their customer cycle. This improves the opportunities to cross sell and up sell and drive increased wallet share. The Doxim platform addresses key digitization challenges like opening an account to personalized communications, customer experience challenges through its communications technology solutions.
As new technologies keep on emerging, the institutions who keep adapting to change will come out as the real winners.
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