Investment management technology company Addepar launched a major revamp of its investment platform this week, moving to a wholly Web-based application with a redesigned interface and a set of restful APIs to ultimately encourage further outside development.
Betting that clients are looking to consolidate multiple systems, Confluence is extending its Unity Performance mutual fund product, adding capabilities for calculating institutional portfolio performance and other analytics.
Broadridge Financial Solutions has expanded its retirement services business with the completion of its acquisition of the trade processing business of the Wilmington Trust Retirement and Institutional Services unit of M&T Bank. The business will be combined with Broadridge's Matrix Financial Solutions, mutual fund and ETF trade processing platform, and terms of the deal were not disclosed.
Fair Isaac Corp., also known as FICO, is testing new credit scoring methods that it hopes give lenders a metric for serving 53 million consumers who currently don't have credit scores, the Wall Street Journal first reported. The move comes as a growing number of alternative lenders are using alternative forms of data to give the underbanked access to credit.
UBS Wealth Management Americas is slimming down and reshuffling executive ranks, while at the same time offering advisors new retirement incentives.
Australian fixed income specialist FIIG has launched an online bond ordering service, designed to be as easy to use as popular online Web sites. Clients can use the system to browse a range of bonds, access research on each bond, and place buy or sell requests any time day or night.
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.