Wealth Management Platform development - outsourcing company Boosty Labs

Wealth Management Platform development

Wealth management is an investment advisory practice that includes financial planning, portfolio management, and other aggregate financial services for individuals as opposed to corporations, trusts, foundations, or other institutional investors. For several years, the Boosty Labs team has been successfully involved in wealth management platform outsourcing. We are a world-class fintech and cloud engineering team with a solid background of practice that combines consulting, strategy, design and engineering at scale.

Cooperate

Wealth Management Platform Features

Portfolio creation and management

The platform's core application allows users to create and manage their portfolios. It is a simple and intuitive way to manage your wealth. The control panel is intuitive and efficient.

 

Smart engine 

Smart engine ensures that users of the app are given access to the best liquidity and exchange rates available at all times in the wider currency markets.

Smart engine analyzes hundreds of trading pairs in seconds, connecting and searching all major exchanges. This allows it to find the best buy or sell rates in any of the supported currencies.

Analytical tools and advisors

The app constantly analyzes the assets it supports, and with deep learning algorithms, users can better understand their own portfolios. This includes analyzing overall performance, providing real-time advice on how to improve that performance, and guidance to help users understand the weaknesses of their investment strategy.

In-app robot advisors can also predict the direction of trends to help users make better timing decisions when investing in any of the currencies.

Advanced security

The security of the application and user funds is a top priority. Therefore, effective security practices are applied, including MPC cryptography, platform stress tests, and the creation of advanced security software. As a result, the application is stable and reliable, protected from both hackers and errors, ensuring the continuous security of users' funds.

Advantages of outsource wealth management platform development

Efficiency

quick achievement of the required amount of profit due to an individually developed investment strategy;

Protection

The owner of the capital is protected by a cooperation agreement, he remains the sole owner of the assets;

No need for reporting

Analytical functions and other tasks are undertaken by an expert, a representative of a large financial company.

Wealth management is the continuous provision of banking and related services by a financial institution to clients, owners of large private capital based on building trusting long-term relationships with a highly qualified personal manager in order to preserve and increase capital. 

The basic principles of wealth management: 

  • confidentiality, as much as possible from the point of view of the current legislation of the country; 
  • an individual approach (the presence of a personal manager who works in personal contact with the client and in a convenient time mode for the latter); 
  • high quality service, ensuring long-term business cooperation; 
  • a systematic and global approach to managing a client's personal capital; 
  • financial planning taking into account possible client requests; 
  • an option of access to the top management of the bank.

The main trend that the wealth management sector is currently focusing on is to further improve data analysis to better identify and quantify risk

New applications for data analytics range from commercial operations and corporate risk management to small-scale personal wealth management. Further advances in data analytics are reducing information asymmetries between small and large financial institutions and investors, while reaping the benefits of automated financial services solutions. Advanced analytics also apply advanced business and risk management approaches such as behavioral and predictive algorithms to analyze all transactions in real time

Automated investment advice (aka “robotic advisors”) poses a significant competitive threat to operators in the do-only and do-it-yourself investment services market, as well as traditional financial advisors.

Such robotic and automated consulting resources will put pressure on traditional consulting services and the cost of such services, and will transform the consulting process.

Many self-investing firms have responded by developing in-house and proprietary solutions, and consultants are likely to adapt to this situation by adopting customer-centric, high-tech hybrid models. A secondary side effect of automated customer analysis is lower customer acquisition, conversion, and funding rates.

Blockchain is a new technology that combines a number of mathematical, cryptographic and economic principles to allow an unlimited number of users to maintain a database without the need for any third party validation or reconciliation. Simply put, it is a secured distributed ledger.

In the same way that Enterprise Resource Planning (ERP) software has enabled functions and organizations within the same business to optimize business processes by sharing data and business logic across the enterprise, blockchain technology will enable entire industries to implement further optimization of business processes through the collective use of data by companies with different or competing economic objectives.

The global wealth management industry is currently facing serious challenges stemming from global digital innovation, on the one hand, and increased competition, including from non-banking institutions, on the other.

Among the key areas for further development are the following: 1) automated investment consulting, 2) improvement of data analytics for more effective identification and quantitative assessment of risks, 3) inclusion of digital currencies in the investment portfolio.