London, England, 19 January 2024: Industrial Thought Ltd. – a group of companies focused on accelerating the future of wealth management – has announced a £500,000 investment in the collaboration platform Finbridge Global with £150,000 cash, plus £350,000 worth of strategic support.
According to 2023 statistics from Deloitte, there are currently around 30,000 fintech startups worldwide with a global market value of approximately £252 billion. The UK fintech market is valued at £15.9 billion. However, despite the significant opportunities this represents for startups, investors, and financial institutions (FIs), it’s challenging to search and compare fintechs based on their capabilities, limiting the number of potential collaborations.
Finbridge Global has been created to bridge this gap. 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.
Barbara Gottardi, CEO and Founder of Finbridge Global, explained: “FIs recognise that they can reap major benefits from technology innovators in areas such as operational efficiency and better consumer outcomes. Yet, while most of these organisations are keen to engage fintechs, they struggle to get the information they need to establish trust. Our goal is to simplify the process, promote transparency, and ultimately facilitate progress.
“Working with the right partners is key to achieving positive outcomes, which also applies to our own growth as a technology startup. The investment from Industrial Thought allows us to cement our positioning, build strategic partnerships, and encourage adoption in the UK, before expanding the platform’s global footprint in 2024. We’re incredibly pleased to work with the team and leverage their expertise.”
Nuno Godinho, Group CEO of Industrial Thought Ltd., added: “Finbridge Global’s commitment to collaboration reflects our firm belief in the power of partnerships to fast-track the future of financial services. The technology behind the platform stands out for its comprehensive capabilities and streamlined approach, and the standardised assessment criteria is a crucial element to build trust.
“As part of our strategic investment approach, we don’t just look at the financial value we can offer, but also the benefits we can add through the support of our shared services and sales channel. We look forward to helping Barbara and her team maximise the platform’s impact in the UK and beyond.”
Finbridge Global hosts a monthly Innovation Board in collaboration with The Investing and Saving Alliance (TISA) to ensure its platform is fully-equipped to meet the sector’s needs. The Innovation Board brings together diverse financial institutions to discuss the changing nature of fintech engagement.
Innovation Board Member John Thompson, from the global investment company ABRDN said: “We are pleased to be collaborating with Finbridge Global in tackling some of the industry’s biggest tech innovation challenges. To succeed in an API-led world, FIs must employ increasingly efficient fail fast methods for identifying and evaluating the potential and interoperability of new technologies. Having an effective “match-making” platform will speed up these assessments and make a big difference for further innovation.”
About Industrial Thought Ltd.
Founded in 2013, Industrial Thought Ltd. is the parent company for a group of companies shaping the future of financial technology and data products. Backed by collective expertise, it is powering the transition to wealth management 4.0 and facilitating a socially responsible, sustainable economy.
As the wealth management industry enters a new era, Industrial Thought will drive transformation by creating a complete suite of data, platform, and marketplace services to support the delivery of higher standards and speed up innovation.
Companies within Industrial Thought include:
- FSL (Financial Software Ltd.): Simplifying the Complexity of Managing Investment Taxes. A provider of specialist investment tax solutions and the creator of CGiX, the market-leading capital gains calculator.
- Raw Knowledge: Reshaping Wealth by Demystifying Data. A specialist data provider for the wealth management industry.
- Thought Train: Fast-tracking the Digital Leap in Wealth Management. A rapid proof of concept company focused on financial software development.
- Thought Ventures: Investing in Trailblazers to Build a Sustainable Circular Economy. A venture builder and incubator aimed at investing in innovative early-stage to Series A start-ups working towards a more circular economy.