A number of fintech firms with tools applicable to responsible investment, decision making, bond investing, and other activities have been selected to join an asset management programme.
UK trade body The Investment Association (IA) said the five firms were in the first cohort of fintechs that would join its ‘Velocity’ fintech “accelerator” for asset management.
The firms, which will benefit from access to potential clients, offer solutions to enhance customer experience and increase business efficiency within asset management operations, the IA said.
They employ technology such as artificial intelligence, machine learning, blockchain, big data and behavioural analytics.
The firms in the first cohort are:
• 9Fin, which makes bond market information easy to search, filter, and analyse using an AI-powered platform.
• Essentia Analytics harnesses behavioural data analytics with “human consulting to help fund managers measurably improve investment decision-making”.
• Hivemind provides software to help companies build, clean and enrich data sets, including unstructured and unrecorded sources.
• ResonanceX uses automation, market expertise and smart-contracts, the IA said, to provide an interactive platform for structured investments trading, with the capability to extend to mainstream assets such as ETFs and mutual funds.
• Util uses big data and machine learning to quantify holistic values of a company across stakeholders and Sustainable Development Goals, to support responsible invests.
A launch event on Tuesday (9th) for Velocity was attended by John Glen MP, Economic Secretary to the Treasury.
Chris Cummings, chief executive of the Investment Association, said: “The launch of Velocity has been a great success. Over 30 outstanding fintech companies applied to join the first cohort and, after much scrutiny, and exciting debate, we are delighted to announce the successful firms.”
The six month accelerator programme will conclude in spring 2019 and applications for the second cohort will open on January 1, 2019.
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