Historically, the wealth management industry was relatively resistant to technology, but times are changing. As a sub-section under the financial service sector, the approach towards Wealth management and an advisory is changing as well.
Digital transformation is happening all around!
Financial institutions are accelerating their digital transformation of wealth management as a result of increased regulation, lower profitability, and a challenging macroeconomic climate, growing competition from new players and more demanding digital-native customers.
The innovations in this sector are expected to redefine the investment industry and establish the ranking of wealth/asset management losers and winners over the upcoming years.
AI-based digital investment solutions!
In this regard, InvestSuite is a Belgium-based B2B WealthTech startup, helps financial institutions to accelerate their digital wealth transformation via its AI-based digital investment solutions.
Recently, the Leuven-based company has raised €2 million funding in a seed extension round led by PMV with participation from existing and new business angels, management, and employees. This brings the total amount raised to €6 million.
Bart Vanhaeren, CEO and co-founder of InvestSuite, states that
“This funding enables InvestSuite to expand its market reach and products, grow the team and bring unparalleled innovations to customers around the globe.”
Customisable robo advisor!
Based on the iVaR-based portfolio construction framework, InvestSuite offers an end-to-end, customisable robo advisor, which provides an automated digital investment product that financial institutions can provide to their clients.
The company was founded in 2018 by an experienced team of bankers, computer scientists, and product designers. In its first 18 months, the company has grown to 25 employees across Europe with a sales presence in Europe, Latin America, and the Middle East.
Laurent Sorber, CTO, and co-founder of InvestSuite said:
“Investing is searching for the balance between return and risk. But it’s very important to define what risk is. InvestSuite’s approach to measuring risk arose from the desire to capture what people intuitively perceive as investment risk. In the end, investors all want the same thing – an account that offers the steady growth of a savings account, but with the returns of the stock market. We cannot guarantee this, but we can optimize for it, which is precisely why we have developed our own measure of risk. By minimizing risk against this measure, we are optimizing for the most comfortable growth journey in an investment portfolio. A ‘smooth ride,’ as we call it.”
In addition, the company provides solutions for multi-asset trading (SelfInvestor), quantitative portfolio construction (Optimizer), and a world-first for portfolio reporting (StoryTeller).
Main image credits: InvestSuite
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