MyVest has been named to the WealthTech100 list for 2020. The WealthTech 100 recognizes the pioneering companies transforming the global investment and banking industries.
The second annual list of the world’s most innovative technology solution providers for asset managers, private banks and financial advisors were announced today by FinTech Global, a specialist research firm.
The WealthTech industry has seen huge growth over the last four years as new digital services to oversee personal finances, manage institutional investments and provide financial advice became more prominent. Total funding to the sector grew at a CAGR of 40.7% from $2.8bn in 2016 to over $7.8bn at the end of last year.
As a result, the competition to be identified as one of the leading 100 WealthTech companies in the world was even fiercer this year. A panel of analysts and industry experts voted from a list of over 1,200 companies produced by FinTech Global. The finalists were recognized for their innovative use of technology to solve a significant industry problem, generate cost savings or efficiency improvements across the investment value chain.
“Established investment firms, private banks and advisors need to be aware of the latest innovation in order to remain competitive in the current market, which is heavily focused on digital distribution and transformation initiatives,” said Richard Sachar, director of FinTech Global. “The WealthTech100 list helps them do just that and identify new business models which will have lasting impact on the industry.”
A full list of the WealthTech100 can be found at www.WealthTech100.com.