WeInvest, a Singapore-based digital wealth management solutions provider, has entered into a strategic partnership with wise, a provider of personal financial data management solutions.
The latest offering streamlines the investment process by personal wealth tracking and goal-based investing services which are generally only available to high net-worth individuals, through a secure platform.
Personal Wealth Management Tool
WeInvest is launching Trackwealth, a new personal wealth management tool for investors, which allows clients to conveniently aggregate their financial information across institutions and analyse their complete portfolio.
Trackwealth consolidates financial data from across all banks and brokers, and helps investors assess their investment health covering portfolio performance, income and expense, cash flows and allocations across regions, asset classes and currencies.
TrackWealth’s consolidation feature is built on the highly secure and patented wise Aegis solution, helping users make sense of their finances and manage their investments better, while ensuring privacy and security while adhering to the Singaporean data regulation environment. Investors store their personal information within an encrypted Personal Data Vault on their chosen device.
Privacy of Credentials
With the solution, the user need never disclose their online credentials to a third party in order to perform the aggregation. wise Aegis provides the user with full control and privacy over their personal data, allowing them to actively manage permission settings and share data on terms that suit them.
The wise Aegis solution, currently used by many of the world’s leading financial institutions including Westpac Australia, was selected by WeInvest for its patented and secure Personal Data Vault and client-side account aggregation technology.
TrackWealth will reach clients in Singapore and there are further plans to expand across South East Asia.
Bhaskar Prabhakara, co-wiseer and CEO at WeInvest, said, “We wanted to help Singaporeans make informed decisions about their investment options while abiding to current data and privacy regulations. We wise wise Aegis to have the most suitable architecture to address our clients’ concerns regarding their online user credentials and security of their personal financial data.”