The international fintech companies Cred (Israeli) and Responsive (Canadian) have joined Nexi Open, the open banking ecosystem of Italian PayTech Nexi. The partnerships, which further expand Nexi Open’s range of offerings, provide banks with important advantages in terms of productivity of their network of advisors, expansion of the client base and managed portfolios, quality of services provided through digital products that offer customized investment solutions, and precise control over investments.
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Both fintech companies are at the forefront of roboadvisor and robo4advisor services
Cred is a financial technology company based in Tel Aviv and operating in the United States and Western Europe. The company provides banks with a leading investment management solution, enabling them to provide a hyper-personalized, family office level service to a broad customer base. Cred’s mission is to align the organic growth of assets in banks with the long-term financial strength of investors. Cred is supported by leading investors in the financial services industry, including Barclays Bank.
Responsive provides banks, insurers and private managers with hybrid advisory solutions and Next Best Action. Founded in 2015 in Canada, Responsive specializes in human-centric AI to increase the productivity and decision-making of financial advisors. The Next Best Action solution detects changes in clients’ finances to provide consultants with strategic information that increases the value of their managed portfolio and the loyalty of their clients. Responsive is supported by Plug and Play Ventures and has participated in NVidia’s Inception program.
“The Credit and Responsive solutions allow our partner banks, first of all, to support their financial advisors in the creation of investment portfolios for their customers, allowing both time savings, which can be used in business development activities, and better planning of the assets on which to focus to ensure optimal returns. Moreover, developing these solutions in an open banking perspective allows banks to calibrate investments, through artificial intelligence algorithms, also on the basis of clients’ multibank transactions, thus offering a tailor-made service”, explained Daniele Gabbai, Head of Strategic Partnerships & Alliances at Nexi.
Ben Fried, co-founder and CEO of Cred, commented: “We are excited to work with Nexi to enable a hyper-personalized level of investment services for banking clients in Italy. We are facing a generational opportunity for banks to attract investment assets organically, leveraging existing client relationships. Consumers in 2020 expect comprehensive and seamless services in every aspect of their lives. With Cred, banks provide each client, according to their financial possibilities, with highly personalized investment management services, without the need for additional personnel”.
Davyde Wachell, CEO of Responsive, said: “The partnership with Nexi enables us to unlock the potential of open banking to help make financial advisors more productive and customer-focused with our Hybrid Advice and Next Best Action Solutions.
In addition to Cred and Responsive, Nexi Open also includes: the British fintech company Ebury and Meniga; Conio, an Italian fintech startup specializing in blockchain-based services for banks, insurance companies and public and private institutions; the online insurance company Net Insurance; the American technology giant Microsoft and the multinational consulting firm Bain & Co. Nexi last February together with Unicredit and Plug and Play, a Silicon Valley company that has already created the largest open innovation platform in the world, launched Plug and Play Italy, a new fintech hub in Italy, based in Milan.
Nexi in mid November 2020 announced the agreement that will lead to the merger with Nets, a Danish company active in the Scandinavian market and in the DACH region (Germany, Austria, Switzerland) in the electronic payments sector. At the beginning of October 2020, the official announcement of the planned integration between Nexi and Sia, to be achieved through the merger by incorporation of the latter into the former, was also made.
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First published in BeBeez, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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