DriveWealth has partnered with INDmoney, an artificial intelligence (AI) and machine-learning-based wealth management platform in India, to bring US stock investing technology to India.
Robert Cortright, Chief Executive Officer at DriveWealth, 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.”
Nikhil Behl, Head of Investment Products at INDmoney, 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.”
DriveWealth continues to rapidly expand its brand and services across the world as trading companies on all six continents look to increase affordable access to the U.S. markets to investors of all sizes, India, the United States, Nigeria and Brazil, as well as in Europe through a groundbreaking offering with Revolut.
INDmoney will be provided with DriveWealth’s patent-pending investing technology, along with a customizable suite of application programming interfaces (APIs) that they can leverage to enhance their services.
DriveWealth’s real-time fractional share trading capabilities were launched in 2016 with the mission to democratize investing in the U.S. stock market. Its proprietary infrastructure allows investors to purchase securities without minimum account balances, high transaction costs, or full share quantities.
The firm has most recently 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. The Easyvest tool is a robo-advisor that provides the services of a personal investment advisor via automation to its financial services clients that include more than 400 credit unions and community banks. DriveWealth will provide trade execution, clearing, settlement, and custody services for the transactions.