St. Galler Bank Acrevis enables asset managers, foundations and family offices to access a new wealth platform that offers clients the highest level of transparency and control over all their assets.
Acrevis Bank from Eastern Switzerland and the Zug-based fintech company Altoo have sealed a partnership for a digital wealth platform, according to an announcement made on October 29th.
For Acrevis Bank, which has branches from Lake Constance to Lake Zurich, the partnership with Altoo represents a further step in the expansion of its network: “By working together with specialized partners, we can offer our customers the best investment solutions in a flexible and independent manner,” explained Sandro Schibli, Head of Private Banking at the institute.
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Altto is a slightly different equivalent twin of Flynt
The Zug-based fintech company Altoo emerged in April 2018 from the earlier, never-ending Flynt banking project launched by former Leonteq co-founder Jan Schoch. However, Altoo is not a baby of Flynt, but rather the equivalent twin – but with one important difference.
“Altoo differs in particular in that we are not a bank, but as a pure software company, we focus on developing the technology. This gives us greater leeway in terms of geographical expansion as well as with potential customers,” said Altoo CEO Martin Stadler at the time.
Control over total assets
It may be an irony that of all things the lack of a banking license, which Schoch had striven for with great consistency and financial commitment, should now help him to succeed.
With regard to the cooperation with Acrevis Bank, Stadler said on Thursday: “We are pleased to intensify our cooperation with Acrevis Bank. The positive feedback from the first joint client relationships has shown that the added value of being able to obtain transparency and control over total assets in a simple way is highly appreciated.”
Altoo’s services can also be accessed via a mobile phone
One of the greatest benefits of the Altoo Wealth Platform is the consolidated overview of assets of all kinds. “This gives clients a complete and up-to-date overview, even of complex structured assets.”
Schibli continued: “And that’s also possible while on the move,” Schibli added, “using a mobile app, access can be set up specifically for self-selected parts of the assets.”
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First published in finews.ch, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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