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Bambu Acquires Investment Management Technology Provider – Wealth Tech Digest #43

Key takeaways

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✅ Bambu Acquires Investment Management Technology Provider

Our first digest today looks at how Bambu acquires Tradesocio, effectively expanding the company’s digital wealth capabilities. The acquisition will also double the number of employees to 130, further accelerating Bambu’s global expansion. Because of this, Bambu will have a presence in all major financial hubs and expanded digital wealth capabilities covering stock trading and crypto. Through the acquisition, Tradesocio brings years of experience delivering and operating high-volume trading platforms across various asset classes. This will put Bambu in a unique position that will provide customers with greater agency through broader system capabilities. In addition, Tradesocio’s presence across EMEA and India is set to further Bambu’s reach in a rapidly expanding and evolving global digital wealth market. Ned Phillips, the CEO of Bambu, shared his thoughts on this groundbreaking acquisition. He says that after five years of building solid foundations, Bambu is now entering a phase of rapid growth.

 According to Ned, there are three key areas that will be leveraged because of the deal. These areas are expansions into stocks and crypto, a wider global footprint, and the ability to scale the company’s team effectively to match exponential demand. Bambu also believes that this deal will put Bambu in a position for a Series C.

✅ Collaboration With WealthTech Is The Way Forward In This New Frontier

Our next digest zeroes in on how collaboration with WealthTech may be the north star within the financial management space. April Rudin, a contributor at Forbes, wrote an article on the matter detailing the lessons she has learned from the past year-and-a-half.  According to April, firms moved to remote working and a scramble to reassure clients worried about the economic fallout of the pandemic. Today, high-net-worth clients expect their advisors to be able to make full use of a hybrid model that encompasses the best of technology. This also means that for advisors, exploring what it means to be operating within this supercharged hybrid model will be essential. Of course, the client experience has always been at the heart of the wealth management industry. The difference, according to April, is whether or not an advisor can meet or even exceed client expectations. Afterall, clients today don’t just want clear information and insights, contemporary clients want these immediately. For advisors, technology is the key to solving the ever-shifting demands and pressure of the industry. When wealth managers partner with WealthTech, they significantly enhance their offerings in key areas such as reporting, regulation, and onboarding. In a nutshell, April’s point doesn’t focus too much on developing new functionalities and nifty toolsets but equipping advisors with the tools they need to excel.

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