Investors are ‘entrenched’ in accessing money via technology, study finds: Tech roundup

What do you want to know

  • 58% of Americans said financial apps are important to achieving their financial goals, according to new research from Envestnet.
  • Docupace announced the next phase of its strategic integration with Envestnet, further streamlining and digitizing the managed account opening process.
  • Software-as-a-service company FMG acquires Vestorly, a company specializing in artificial intelligence-based content curation for wealth managers.

American investors are increasingly “rooted in accessing money through technology at their fingertips,” Envestnet found in its first national study, “Smart Financial Living: The Unexpected Intersection Between Technology , clarity and human connection”.

“Americans increasingly view money as something to engage with, manage, invest in, and understand with the help of technology,” the company explained.

According to the study, 58% of Americans said financial apps, including investing apps, money management apps, and banking apps, are important to achieving their financial goals. That number jumped to 76% when looking at Americans who currently work with a financial adviser, Envestnet said.

The study, done in conjunction with the Center for Generational Kinetics, included 2,158 American participants between the ages of 25 and 65. This included 1,038 US participants representing the general population and 1,120 US participants whose annual household income or household net worth was $100,000 or more.

The sample was weighted according to the 2020 US Census for age, gender, geography and ethnicity. The study was conducted online from December 13 to January 1. 11.

Improved Docupace-Envestnet integration

Docupace on Wednesday announced the next phase of its strategic integration with Envestnet, further streamlining and digitizing the process for opening managed advisory accounts.

Over the past year, Docupace’s product organization has been working to enable its legacy system to use the application programming interfaces available through Envestnet. The APIs enable Docupace to personalize advisor, client and back-office experiences related to application and account opening workflows, he said.

The “deep and data-rich integration” includes real-time data exchange between platforms, as well as “several back-office and front-office enhancements, to deliver a streamlined experience for clients, advisors and home office professionals, which eliminates duplicate data entry, and creates a single sign-on (SSO) experience to access and manage one or more accounts,” according to Docupace.

Riskalyze appoints three leaders

Riskalyze has hired two new executives and promoted a veteran employee, it said Tuesday.

New members of the management team are Craig Clark as the company’s first chief marketing officer, Josh Gray as CTO and Riskalyze veteran Justin Boatman as product manager.

In his role as CMO, Clark will lead the team responsible for all marketing activities while developing its brand positioning and strategic value in the marketplace. Prior to joining Riskalyze, Clark was CMO of PDFTron Systems, which was acquired by Thoma Bravo.

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