This article was originally posted on finovate.com Posted on
This post is part of our live coverage of FinovateSpring 2015.
Our next presenter is DriveWealth, demonstrating its “Brokerage as a Service” platform.
DriveWealth’s innovation is to offer “Brokerage as a Service.” By way of our full-technology stack and regulatory licenses, financial companies that currently offer investing in their local markets (i.e., India, China, Latin America, US) can now offer their clients the ability to trade U.S. stocks in a low-cost, friction-free environment. We present to these partners embeddable HTML5 “widgets” for account opening, funding, compliance document upload and trading. Partners can use these multilingual plug/play widgets as well as industry standard APIs (RESTful and FIX) to easily add U.S. stocks to their offering. We take care of all the “hard stuff” including trade execution, regulatory compliance, safety of funds, and clearing of trades.
Presenting Michael Fitzgerald (Head of Corporate Strategy) and Aric Rosenbaum (Chief Technology Officer)
Product Launch: April 2015
Metrics: 25-30 employees; $10M raised to date; 40,000+ registered users/customers Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed
HQ: Chatham, New Jersey Founded: May 2012 Website: drivewealth.com Twitter: @drivewealth