Singapore robo advisor Bambu is partnering with U.S. based DriveWealth to offer a white-labeled product for the American wealth management industry.
U.S.-based fintech DriveWealth and Bambu, a robo advisor from Singapore, concluded a partnership to offer a white-labeled platform solution to the wealth management industry in the U.S., the two firms said in a media release. Neither DriveWealth nor Bambu disclosed financial details of the tie-up.
The idea is to match DriveWealth’s real-time, fractional share technology with Bambu’s responsive interface for devices like smartphones and tablets for an end-to-end platform solution.
«We are confident that this end-to-end service for financial institutions in the U.S. will be a game changer in simplifying investing», Bambu co-founder and CEO Ned Phillips said.
Funding Sweep
Drive Wealth’s suite of APIs includes onboarding, ordering, funding, and reporting of U.S. stock markets, while Bambu's robo advisor software automates financial planning, saving and investing for consumers.
The features of the partnered platform include an advisor dashboard with a one-page overview of all client activities, an CIO dashboard to simulate portfolio moves, and an application allowing clients to manually adjust their finance goals or access investments.
The U.S. fintech can integrate onto any mobile platform, and its cloud-based infrastructure offers scaling and pricing efficiencies. Bambu last month clinched $3 million in funding, including from U.S. mutual fund house Franklin Templeton.
