The second annual list of the world’s most innovative technology solution providers for asset managers, private banks and financial advisors were announced today by FinTech Global, a specialist research firm.
The WealthTech industry has seen huge growth over the last four years as new digital services to oversee personal finances, manage institutional investments and provide financial advice became more prominent.
Total funding to the sector grew at a CAGR of 40.7% from $2.8bn in 2016 to over $7.8bn at the end of last year. As a result, the competition to be identified as one of the leading 100 WealthTech companies in the world was even fiercer this year.
A panel of analysts and industry experts voted from a list of over 1,200 companies produced by FinTech Global. The finalists were recognised for their innovative use of technology to solve a significant industry problem, generate cost savings or efficiency improvements across the investment value chain.
“Established investment firms, private banks and advisors need to be aware of the latest innovation in order to remain competitive in the current market, which is heavily focused on digital distribution and transformation initiatives,” said Richard Sachar, director of FinTech Global.
“The WealthTech100 list helps them do just that and identify new business models which will have lasting impact on the industry.”
A full list of the WealtTech100 can be found at: www.WealthTech100.com
PassFort - Supporting the wealth management sector
PassFort is delighted to be listed in the WealthTech100, 2020. We work with wealth managers, independent financial advisors and private banks to help them digitise customer onboarding journeys and manage ongoing risk.
KYC, KYB, AML and other compliance processes are mapped and digitised through our SaaS platform, which focusses on creating the right balance between customer experience and compliance.
Our platform is integrated with all the leading data providers needed to carry out fast, efficient due diligence and ongoing renewal checks. This means data collection can be automated, risks flagged for enhanced investigation, and renewals set within any required timeframe.
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If you would like to discuss your firms approach to risk and compliance for onboarding and ongoing renewal, please contact us anytime - we would love to hear from you.