Northwest Mutual is acquiring LearnVest, one of the young firms that has contributed to the increasing popularity of online or robo-advisory services. In making the acquisition, Northwestern Mutual, the nation's second largest life insurance company, joins several other financial services giants in embracing the lower-touch online service model, including Fidelity, which recently acquired eMoney, and Charles Schwab and Vanguard, both of which are launching their own version of robo-advisory services.
With vendors like Bloomberg, Thomson Reuters, Deutsche Bank S&P and Nasdaq already offering content for sale on its online platform, Airex Markets aims to become an online superstore for financial information. About a month into its launch, the site is looking to change the model for financial information, by giving market participants who might not have the resources to subscribe to all-encompassing data packages to pick and choose the data they want a-la-carte.
In the early days of the Internet, Marc and Susan Strausberg founded Edgar Online, a company that made the Securities and Exchange Commission's vast warehouse of financial information on companies accessible and consumable. Now the husband-and-wife team are reentering the space with a new tool, a cloud-based platform for harnessing the cognitive computing capabilities of IBM Watson and applying them to financial information.
Credit Suisse is launching digital private banking in Asia beginning with Singapore as its first launch location. For Credit Suisse, which has said it is increasing its focus on wealth management, launching the platform in Asia Pacific allows the firm to debut the digital capabilities in a growing and competitive region that could offer strong potential pipeline of new clients.
To compete in fast-paced markets, traders often not only employ algorithmic trading strategies, but use algorithmic tools to calculate how well their algorithms are performing. Trading solutions vendors say they are seeing increasing interest in tools that alert traders throughout the day to market conditions that may warrant making adjustments to algorithms or even switching to different algorithms altogether before markets close.
Startup EVEN Financial is looking to even out the imbalance in marketplace lending by helping lenders find and attract the qualified borrowers that are in increasingly high demand. The company announced $2.8 million in seed funding Tuesday morning, led by Canaan Partners.
A new tool incorporating data from ICAP Information Services and CME Group will allow users to analyze relative values in the over-the-counter and exchange-based futures markets in real time. The tool, called RapidRV will help identify hedging and arbitrage opportunities.
State Street has unveiled a new suite of front office investment tools called GX Investment Labs, which combine State Street research with investment decision tools in a Web-based environment. GX Investment Labs launched with three "labs" but the firm says more are in development and are expected to launch throughout 2015.
Charles Schwab launched its anticipated fully-automated investment advisory service this week, staking a claim to a space where new companies like Betterment and LearnVest have been attracting investors and gaining traction.
As the list of electronic bond trading platforms keeps growing, one firm is looking to mitigate low dealer inventories in the bond market without circumventing dealer-centric trading.