Robo-advisors growth has been one of the main industry trends throughout the past couple of years. One of the key players in the Asian market in this space is Singapore-based Robo-Advisory platform-as-a-service provider WeInvest. The firm has just announced a partnership with global fintech firm InvestCloud Inc.
The partnership is aiming to enable WeInvest to become the only Robo-Advisory solution on the market that is supporting multi-asset based, multi-currency, goal-based and thematic investing.
WeInvest is delivering robe-advisory services to retail clients who are willing to commit at least $SG 5,000. The fees that clients are paying are starting from 0.4 percent per annum. The company also provides its services to Asian banks, wealth managers and asset managers.
InvestCloud enables financial institutions to offer the solution to their own clients using WeInvest’s scalable, ready-to-deploy Platform-as-a-Service (PaaS), powered by InvestCloud.
InvestCloud has made headlines last year after securing an investment from none other but JPMorgan. The bank also hired the firm to customize website dashboards and mobile applications for individual and institutional clients.
Commenting on the deal, the CEO of WeInvest, Bhaskar Prabhakara, said: “The WeInvest PaaS solution gives Asian wealth managers a rapid path to rolling out their own branded Robo-Advisory services. Uniquely, we can also support the full range of investment methodologies to allow each Robo-Advisor to reflect consumer preferences, as well as the strengths and ethos of the wealth manager.”
“This partnership highlights the capabilities of the InvestCloud digital platform and especially the flexibility of our Robo stack solution. Whether a wealth manager wants to offer their own Robo business or provide a hosted service to other wealth managers, InvestCloud can support them,” highlighted the Founder and CEO of InvestCloud, John Wise.