MoneyFarm launches Platform-as-service in the UK after success in Italy

varsha sarkar

April 14, 2023

4:27 pm

MoneyFarm, the digital wealth management platform, announced the launch of its Platform-as-a-Service (PaaS) in the UK after the successful implementation of the same in Italy. The PaaS is a comprehensive offering to revolutionize how traditional financial institutions manage their wealth management services.

The PaaS combines MoneyFarm’s technology, investment expertise, and back-office services, offering a turnkey solution to financial institutions looking to expand their wealth management offerings. The answer will enable institutions to launch and manage their wealth management services easily, reducing market time and ensuring a smooth user experience.

The launch of PaaS in the UK marks MoneyFarm’s first international expansion and is a testament to the success of the platform in Italy. MoneyFarm has been operating in Italy for over five years and has built a strong reputation for delivering high-quality wealth management services to its clients. As a result, the platform has attracted over 100,000 clients in Italy and has become one of the country’s leading digital wealth management platforms.

The UK is an important market for MoneyFarm, and the launch of PaaS aims to capture a share of the country’s rapidly growing digital wealth management market. The UK has a highly developed financial sector, and the digital wealth management market is poised for significant growth, making it an attractive market for MoneyFarm. The platform is confident that its PaaS will help it establish a strong presence in the UK and capture a significant market share.

The PaaS is designed to cater to financial institutions’ specific needs, offering a flexible and customizable solution adapted to their unique requirements. The platform provides a full suite of services, including portfolio management, investment advice, and customer support, enabling institutions to launch and manage their wealth management services quickly.

MoneyFarm’s investment expertise is a crucial component of the PaaS offering, enabling institutions to offer their clients access to a range of carefully curated investment portfolios. The platform uses a combination of proprietary algorithms and expert investment advice to construct tailored portfolios to meet clients’ specific investment needs. This approach has proven to be highly successful in Italy, and MoneyFarm is confident that it will be equally successful in the UK.

The back-office services offered by MoneyFarm’s PaaS are also designed to streamline financial institutions’ wealth management process. The platform provides institutions access to various services, including compliance, risk management, and reporting, enabling them to focus on delivering high-quality wealth management services to their clients.

The launch of MoneyFarm’s PaaS in the UK has been met with excitement by the financial sector, with many institutions expressing interest in the offering. The platform is poised to disrupt the traditional wealth management industry, offering financial institutions a cost-effective and scalable solution that allows them to expand their wealth management offerings quickly.

Moneyfarm representatives have highlighted the company’s successful launch in Italy, which has integrated with several financial institutions such as Poste Italiane, Unicredit’s Buddybank, and Banca Sella. The speedy launch of the &me project in just nine months, along with M&G Wealth’s investment expertise and the human touch provided by dedicated &me investment consultants, have been cited as key reasons for the company’s success.

In January 2022, Moneyfarm raised GBP 44.1 million in a funding round led by investment house M&G. As part of the funding agreement, M&G took a minority stake in Moneyfarm and announced plans to launch a UK digital investment platform under the M&G Wealth brand. The funding round aimed to improve Moneyfarm’s product offering, support future development, and build partnership models by offering its digital wealth management as a module for other financial institutions to integrate.

In conclusion

MoneyFarm’s launch of its Platform-as-a-Service in the UK is a significant step in the company’s growth and international expansion. The platform has been highly successful in Italy and has built a strong reputation for delivering high-quality wealth management services. The launch of PaaS in the UK aims to capture a share of the country’s rapidly growing digital wealth management market and establish MoneyFarm as a leading provider of digital wealth management services. In addition, the platform is confident that its PaaS will help financial institutions in the UK expand their wealth management offerings and deliver a superior user experience to their clients.

varsha sarkar

April 14, 2023

4:27 pm

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