We firmly believe that strategic collaboration is essential for any industry to transform. As we navigate the path to wealth management 4.0, financial services firms should focus on striking up suitable partnerships to develop their products and services in line with changing needs. Those who ignore the need for collaboration will likely be left behind. This is a topic our Group CEO Nuno Godinho discussed in a recent article for Maddyness, exploring the lessons we can learn from the digital transition in other industries such as healthcare.
At Industrial Thought, we’re committed to fast-tracking the future of wealth management through our investment arm Thought Ventures. We invest in disruptive innovators, some in our realm and others in adjacent markets, all aligning with our values and reinforcing our commitment to creating a socially responsible, sustainable circular economy. Additionally, we are exploring potential acquisitions to keep growing as a group.
Some of our recent investments include:
Sourcing Playground exists to remove uncertainty around the supply chain. It is an innovative intelligence platform that provides brands and retailers with global production insights, industry data and analysis, so they can build strong sourcing strategies and trade with ethically-minded partners. Companies don’t need to spend the time and money visiting factories themselves as the platform presents a comprehensive view of all the relevant information.
For asset management firms and equity researchers, Sourcing Playground lets them assess the ESG track record of factories supplying the major retailers that their clients may wish to invest in. As a result, investment firms can differentiate their service by delivering deeper insights about a company’s ESG credentials from an entire supply chain perspective and personalise investment strategies.
Ammonite builds financial adviser software for pure online engagement, resulting in a broader customer reach, enhanced conversion, and greater operational efficiency. It is evolving the financial planning experience through digital technology and empowering financial advisers with the tools to engage and economically service the next generation of investors. Confident in the power of partnerships, Ammonite understands that this era of digital disruption requires advisers and software providers to work together for everyone’s benefit.
When Nuno spoke with WealthBriefing, he emphasised the importance of building a digital ecosystem in wealth management; this starts with a digital front door that connects all of the investor’s data in one place. Maintaining a customer-centric perspective is only possible when we have a consolidated view of data, leveraging technologies like AI and Machine Learning. Now is the time to put customer experience first and Ammonite is focused on that goal.
The TISA Universal Reporting Network (TURN) is an industry blockchain solution for collecting and disseminating fund-related data. The overall aim is to increase market compliance, reduce regulatory and operational costs, and provide a better service to investors. Essentially, it acts as a central data repository for the asset management industry – an irrefutable ledger that all parties can see and rely on.
Again, as we work towards an open marketplace in wealth management, having a standardised reporting network for shared data is critical to establish provenance and traceability, and protect against liability. We can only build a more sustainable, circular financial future if it’s built on trust.
Finbridge Global is a collaboration platform that has been designed to facilitate faster, more effective partnerships between fintechs and financial institutions. It is the only global platform with a smart assessment engine that can define a fintech’s suitability for FIs, aiding the creation of powerful partnerships. The platform offers a straightforward way of accessing an extensive array of fintech solutions in one space and includes an in-depth evaluation, expediting the Request for Information (RFI) process. It also identifies strengths and weaknesses; where weaknesses emerge, fintechs are provided with a clear path to improvement.
While many FIs see the benefit of collaborating with fintechs, it’s not always easy for them to access the right information. Finbridge Global simplifies that process, allowing organisations to pinpoint providers that align with their preferences and requirements, moving valuable relationships along quicker.
All of these investments reflect our commitment to investing with purpose, fast-tracking innovation for transparency, and driving digital transformation and connection. It’s challenging for fintechs to attract investment in the current market, but at Industrial Thought, our sights remain firmly fixed on finding opportunities to advance our industry. If you would like to discuss potential collaborations, reach out to us here.