First partnership with a central bank to provide online and mobile bank users with a built-in digital investment experience
Berwyn, Pennsylvania, October 23, 2023 /PRNewswire/ — Consumers are increasingly looking to their financial institutions to provide them with a comprehensive experience that includes a wide range of financial experiences, from savings and checking to bill payments and investments, all in one place. Envestnet is proud to announce an embedded investment. This solution provides a digitized process for banks, credit unions and financial advisors to offer investment solutions to their customers within their own apps or their websites within the scope of their existing banking experience. . The service consists of a diversified portfolio invested in exchange-traded funds and optional thematic stocks, allowing financial institutions to hold deposits within their own ecosystem and serve small accounts digitally. You will be able to do it.
āOur data and analysis shows that banks and credit unions are losing billions of dollars to digital investment platforms as customers leave them and seek these investment solutions.ā said. dani fabaGroup Head of Product Innovation, Envestnet. āEnvestnet provides these institutions with a turnkey solution for customer retention by providing seamless investment integration. This allows customers to enjoy a more holistic financial experience with their current institution. You will be able to experience it.ā
Central Trust Bank, a personal and corporate bank with locations throughout the Midwest, is the first to take advantage of Envestnet’s latest capabilities. In partnership with Envestnet, Central Bank has introduced Digital Investor, an online investing experience that is seamlessly integrated into Central Bank’s mobile banking app and online banking. The partnership will enable central bank customers to embark on their investment journey by choosing an investment portfolio recommended by Envestnet based on their financial goals.
āToday’s consumers are looking beyond traditional banking products even as they begin their financial journey. We partnered with Envestnet to help customers optimize their finances directly within their banking app. We are pleased to be able to provide access to the investment side of financial services, as well as provide access to the investment side of financial services. Dan WesthughesCentral Bank Executive Vice President and Chief Marketing Officer. āThis greatly streamlines the user experience for our customers, easing their personal financial management process and also providing themed investment options through Envestnet.ā
Envestnet’s embedded investment solutions represent a major step forward in the democratization of investing, offering a user-friendly, comprehensive approach that empowers individuals to make informed financial decisions and build intelligent financial lives. Offers. This is possible with admin technology like DriveWealth, which enables a completely digital onboarding experience. Beyond its use within financial institutions, embedded finance will play a pivotal role in providing easy access to investments to millions of individuals who have traditionally been excluded from such tools. It will be.
Participants at this year’s Money 20/20 conference in Las Vegas, Nevada from October 22nd ā 25 people can join to learn more about embedded investing Dani Faba live presentation, āStop the Bleeding: How Embedded Investing Can Save Banks Billions.ā suspended Tuesday, October 24th in 2:15pm Stop by the “Under the Stars” stage or the Envestnet booth in Money Hall #14327.
To support the growth of this innovative service, Envestnet has established Envestnet Embedded Advisory, an SEC-registered investment advisor that serves as an asset manager for embedded financial solutions. Investment accounts are held with independent broker-dealer and custodian DriveWealth, LLC, member FINRA/SPIC.
About Envestnet
Envestnet is transforming the way financial advice is delivered through an ecosystem of technology, solutions and intelligence. Envestnet helps people better understand their finances and live an Intelligent Financial Lifeā¢ by establishing the connection between people’s daily financial decisions and their long-term financial goals.that’s all 5 dollars0.4 trillion in platform assets ā over 107,000 advisors, 16 of the 20 largest US banks, 47 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs, and thousands of others. We rely on Envestnet technology and services. Help drive better outcomes for your business and clients.
Envestnet refers to a family of operating subsidiaries of Envestnet, Inc. (NYSE: ENV), a public holding company. For more information, please visit www.envestnet.com and follow X (@ENVintel) on LinkedIn.
Central Trust Bank and Envestnet are separate companies and are not related. This release should not be construed as a recommendation or approval of any particular product, service, person or company.
About Chuo Trust Bank
The head office of Chuo Trust Bank is jefferson city, missouriThe bank is built on a strong foundation of people, community service, and technology.
Chuo Trust Bank is 20 billion dollars missouri We are a state-chartered trust company serving consumers and businesses with more than 250 locations in 78 communities. missouri, Kansas, illinois, oklahoma, north carolina, colorado, iowaand florida. Central Trust Bank’s divisions include Central Trust Company, Central Investment Advisors, Central Travel, and Central Technology Services. For more information, please visit www.centralbank.net.
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Source: Envestnet