DriveWealth brings U.S. stock investing capability to India-based AI wealth management firm
- Artificial Intelligence , Wealth Management
- 21.05.2020 06:10 pm
DriveWealth, LLC, a U.S. based leader in global digital trading technology, announced today that the firm has partnered with INDmoney, an artificial intelligence (AI) and machine-learning based wealth management platform in India, to bring U.S. stock investing technology and capability to INDmoney clients.
DriveWealth CEO Robert Cortright said: “INDmoney has taken a unique approach to wealth management through its AI and machine-learning capabilities, giving its customers a powerful tool to help guide their investment decisions. We’re proud to make DriveWealth’s technology and infrastructure available to INDmoney, which will enable its clients to access valuable new investment opportunities in the U.S. stock market.”
INDmoney Head of Investment Products Nikhil Behl said: “We are excited about the launch of U.S. stocks on INDmoney‘s SuperMoneyApp. We will be one of the first Indian FinTechs to offer a simple, straightforward experience for investing in U.S. stocks. This will give our clients access to the much-demanded U.S. listed stocks and exchange-traded funds (ETFs) using fractional trading. This is in line with our philosophy of providing diversified investment strategies to our users on a single SuperMoneyApp. DriveWealth’s technology, licenses and support have allowed us to add this important capability to our offering.”
The initiative with INDmoney is the latest in a series of relationships DriveWealth has forged globally on six continents, including recent agreements to increase affordable access to the U.S. markets to investors of all sizes not only in India but in the U.S., Nigeria and Brazil, as well as in Europe through a groundbreaking offering with Revolut. The firm offers partners such as INDmoney its unique investing technology, along with a customizable suite of application programming interfaces (APIs) that they can leverage to enhance their services. DriveWealth, which launched its patent-pending real-time fractional share trading capabilities in 2016, was founded with the mission to democratize investing in the U.S. stock market. The firm is dedicated to eliminating barriers investors typically encounter with legacy brokers, creating its own proprietary infrastructure that allows investors to purchase securities without minimum account balances, high transaction costs or full share quantities.