DriveWealth Integrates Easyvest App for Banks and Credit Unions


DriveWealth has partnered with online and mobile banking software provider Access Softek to integrate its new investing app, EasyVest, which will be distributed via banks and credit unions. DriveWealth will provide trade execution, clearing, settlement, and custody services for the transactions.

The Easyvest tool is a robo-advisor that provides the services of a personal investment advisor via automation. Access Softek’s automated investment tool offers seamless integration of investment accounts within online and mobile banking to its financial services clients that include more than 400 credit unions and community banks.

As of the fourth quarter of 2019, there were more than 5,200 credit unions in the U.S. with at least 120 million members and deposits totaling more than $1.5 trillion, according to the National Credit Union Association. The not-for-profit institutions are owned and controlled by the members who use their services, and their profits return to the members in the form of reduced fees, higher savings rates, and lower loan rates.

Robert Cortright, CEO of DriveWealth, said: “We believe credit unions and community banks represent a great growth opportunity for us, as they are increasingly embracing new technologies that will offer their loyal, engaged members and customers value-added services. Access Softek has been a true leader and innovator in introducing robust, intuitive apps for hundreds of financial institutions that are looking to provide their customers with the best banking and investment experience available. We are excited to partner with the first firm to successfully integrate banking and robo-advisor investing on its initiative to make trading in U.S. stocks affordable and easily accessible to people across the U.S. who love their credit unions and their community banks.”

Chris Doner, CEO of Access Softek, commented: “DriveWealth’s leadership, expertise, and reputation have made the firm a valuable partner, allowing us to focus on the robo-advisor tool itself. Ease of use is such a critical selling point for the end consumer that seamless integration of investments into the individual’s everyday digital banking platform is critical. It allows people to overcome inertia or fear and make a choice to invest in the market for the first time. Plus, the user is more likely to log into their account to track progress, add contributions, and make other adjustments. It can also serve as a pipeline for an even more robust broker-dealer program. We believe this new offering uniquely positions credit unions and community banks for the future.”

Timothy Williams, President and CEO of Sno Falls Credit Union, said: “What a tremendous opportunity this is for our members to begin investing. With as little as $200, a member can open an investment account directly within online banking after answering questions to assess the member’s risk tolerance. They can set up automatic transfers between those accounts, view balances, and make adjustments to the time horizon or investment objectives – again all within Sno Falls’ online and mobile banking. We see the addition of this innovative solution as a true competitive advantage.” Sno Falls will be the first to launch the automated investment product to its members.

In recent years, DriveWealth has been crossing the seas to increase affordable access to the U.S. markets to investors of all sizes in the U.S., Nigeria, India, the Middle East, and Brazil, as well as in Europe. This was executed through an innovative offering with Revolut, by offering partners its investing technology along with a customizable suite of application programming interfaces (APIs) that they can leverage to enhance their services.

DriveWealth launched its patent-pending real-time fractional share trading capabilities in 2016 as it aims to eliminate barriers investors typically encounter with legacy brokers and democratize investing in the U.S. stock market.