IBM Cloud Authors: Yeshim Deniz, Elizabeth White, Pat Romanski, Liz McMillan, Stefan Bernbo

News Feed Item

Invessence Taps MX's Aggregation Capabilities for its Digital Advisor Platform

Armed with a holistic view of an investor's finances, advisors will be better equipped to provide advice to clients while enhancing their compliance procedures ahead of upcoming DOL regulation

SILICON SLOPES, Utah, Oct. 10, 2016 /PRNewswire/ -- Digital wealth management technology provider Invessence announced today that it has partnered with MX to provide account aggregation capabilities for its client base. Aggregation will enable advisory firms on the Invessence platform to gain a holistic, current view of an investor's financial situation, including both accounts managed by the advisor and non-managed accounts. A lack of visibility around non-managed accounts has long limited the ability to provide sound financial planning and risk assessment.


"Advisory firms are required to understand their client's full financial situation, risk and needs," said Jigar Vyas, CEO of Invessence. "Integrating the account aggregation capabilities of MX with our digital wealth management platform gives advisory firms the ability to see a comprehensive view of their clients' total assets and liabilities across multiple custodians. It will act as an analytical dashboard for investors but also as an oversight tool for advisors."

Ahead of proposed changes in regulation, financial advisors are looking towards technology to better analyze their client's financial situation when they offer guidance around 401(k) plans, retirement accounts and other funds earmarked for retirement. By utilizing aggregation to import non-managed accounts, advisors can better make the case that the financial plan of a client is based on their full financial picture. MX was chosen by Invessence for its reliable, redundant multi-source aggregation, superior transaction cleansing and data visualizations. 

"Account aggregation is a crucial capability for advisors in this new environment, absolutely vital to remain in compliance. Invessence understands that you have to make the process quick and reliable," said MX Founder and CEO Ryan Caldwell. "By partnering with MX they've shown their commitment to bringing the best technology and user experience to their clients."

About Invessence, Inc.:
Invessence provides digital wealth management technology (including robo advisory services) that enables asset managers, broker-dealers, and advisors to deliver their investment solutions through a white labeled platform. The flexible technology provides a dynamic user experience for both the advisor and investor by simplifying the entire investing process – client on-boarding, portfolio construction, record keeping, and rebalancing – into a streamlined online solution. Invessence provides services globally. For additional information, visit http://www.Invessence.com.  

About MX:
MX is the world leader in unified financial data, enabling financial institutions and fintech providers to collect, refine, and present actionable data that empowers the world to become financially strong. Founded in 2010, MX is the fastest growing fintech provider, partnering with more than 1,000 financial institutions and 35 digital banking providers.

News Media Contacts:

Christopher Lengle
Chief Strategy Officer, Invessence

Jeff Meredith
MX Public Relations

MX Logo

Logo - http://photos.prnewswire.com/prnh/20161007/426620LOGO

Logo - http://photos.prnewswire.com/prnh/20150919/268534LOGO


To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/invessence-taps-mxs-aggregation-capabilities-for-its-digital-advisor-platform-300341521.html

SOURCE MX; Invessence, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

IoT & Smart Cities Stories
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by ...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.
Digital Transformation and Disruption, Amazon Style - What You Can Learn. Chris Kocher is a co-founder of Grey Heron, a management and strategic marketing consulting firm. He has 25+ years in both strategic and hands-on operating experience helping executives and investors build revenues and shareholder value. He has consulted with over 130 companies on innovating with new business models, product strategies and monetization. Chris has held management positions at HP and Symantec in addition to ...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups.
As IoT continues to increase momentum, so does the associated risk. Secure Device Lifecycle Management (DLM) is ranked as one of the most important technology areas of IoT. Driving this trend is the realization that secure support for IoT devices provides companies the ability to deliver high-quality, reliable, secure offerings faster, create new revenue streams, and reduce support costs, all while building a competitive advantage in their markets. In this session, we will use customer use cases...