Fiserv, GoldBean Partner for Personalized Financial Advice

  • Grace Noto
  • June 26, 2017
  • 0

How do you serve the investor that’s never invested before? Fiserv and GoldBean have a solution.

Financial solutions provider Fiserv has partnered with digital investing startup GoldBean in order to bring personalized, digital financial advice to Fiserv customers, the companies announced today.

“For the vast majority of people who have a wealth manager or an advisor, it has traditionally been a personal relationship, supported by great software,” Jane Barratt, CEO and founder for GoldBean, told Bank Innovation prior to the announcement. “The GoldBean solution helps people self-direct a little better — learn what the words mean, maybe practice a little either before or in parallel with a human relationship.”

There are quite a few services already in place for the investor that knows what they’re doing, according to Barratt — but there are fewer services in place for beginners. Partnership with GoldBean could help narrow that gap, as its ability to deliver personalized advice through Fiserv’s platform will help to augment the talents of a human wealth manager and educate the inexperienced investor.

The partnership comes as a result of GoldBean’s graduation from INV Fintech — this site’s sister accelerator — where Fiserv works closely with INV to explore emerging technologies, and identify the most innovative startups.

GoldBean’s software will provide digitally-enabled advice (as opposed to robo-advice, according to Barratt) to Fiserv clients on the financial solutions provider’s Unified Wealth Management Network platform. The technology is integrated and white-labeled on the platform.

“The clients that we serve are money managers, broker-dealers, and the clients that they serve are looking for a better financial literacy tool,” Cheryl Nash, president of investment services for Fiserv, told Bank Innovation. “This means a lot to us and our clients because this will enable them to have an opportunity to attract that next-gen investor, that early investor…and help them become an investor with that firm.”

The platform currently has 300 clients, according to Nash, and the solution with GoldBean will be applied across all client segments, which include asset managers and brokers.

The integration is currently live.

4 - Readers Like This Post

Leave a Reply