We’re kicking off today with news of a highly anticipated partnership. London-based Refinitiv, one of the top wealth data firms in the world, announced a strategic partnership with FinTech Studios. News of the partnership came as FinTech Studios announced an increased interest in the Latin American wealth management market. The IMF reported a 4 percent year-to-year increase in average GDP throughout the region, a notable improvement in recent years. FinTech Studio uses artificial intelligence to get the most reliable signals based on market data. The partnership will streamline analyses for major wealth management groups around the world, with the hopes of better returns for every client. Technology between the two firms will also make it easier for firms to get trending news from around the world, obtain growth charts, and also tailor data by desired sources. In the world of wealth management, being able to pivot with breaking news is vital to success. The products and data provided by the two firms will hopefully make it easier for firms throughout South America. The partnership will bring access to news and data in 48 different languages.
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✅ Nivesh Scores Another Round Of Funding
Moving onto the next article which covers Nivesh’s recent funding. Nivesh a digital platform that helps mutual fund companies distribute their products. The five-year-old tech platform company was able to raise $1.6 million in its most recent round of funding. And has gained a solid following of investors. Some of the names backing Nivesh include the Indian Angel Network Fund, the LV Angel Fund and the Next Billion Fund. Nivesh’s overall goal is to act as a full-stack software platform for their clients’ financial needs, with the focus on providing easier access to financial products to residents of major cities. In upcoming years, it’s expected to roll out a series of credit and insurance products made with Indian markets in mind. Should Nivesh succeed, it would become one of the most exciting wealthtech companies in India
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✅ Nutmeg Breaks Its Record
Finally, our third news bite features one of the fastest-growing European fintech companies: Nutmeg. While many other companies struggled during the upheaval that came with the pandemic, Nutmeg thrived. The company recently announced that it surpassed 3 billion pounds in assets in 2021. And a year-by-year growth of 72 percent, maintaining its rank as one of the top digital wealth management firms in Europe. Much of its newfound success can be accredited to a 53 percent increase in new clients over the last year, bringing the total client base to 130,000. To add to an already impressive annual report, Nutmeg also reported a 230 percent year-on-year net inflow increase. And an overall revenue increase by 66 percent – bringing them closer than ever to profitability. Neal Alexander, CEO, noted that the increase in business came as a result of record low-interest rates and a newfound interest in investing. It’s great to see one of the original FinTechs continue to grow and lead the way.
