Allfunds shifts up a digital gear with app for customers

Mutual fund platform Allfunds has started providing technology to distributors that allows them to develop mobile apps for their clients.

The new ‘application programming interfaces’, or APIs, will give advisory firms that distribute funds from the Allfunds platform the ability to offer their customers a range of digital services on smartphones, tablets, mobile and other digital devices.

Allfunds, Europe’s largest fund platform, says that the facility will allow the wealth management industry to engage in fintech opportunities.

Juan Alcaraz, Allfunds chief executive, said the API platform will integrate Allfunds’ technology and services into clients’ own digital solutions in an “easy and cost-effective way”.

In March, Spain’s Santander and Italy’s Intesa Sanpaolo banks agreed to sell a joint 75% stake in Allfunds for around €1.37 billion to the Singapore sovereign wealth fund GIC and private equity fund Hellman & Friedman.

Allfunds provides services supporting the mutual fund distribution activities of over 530 clients and has offices in Europe, Asia and Latin America.

©2017 funds europe

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