Invent's "Super App" platform will enable any RIA, Broker Dealer and Custodian to bring together all of their business and wealth management applications into their own, unique "Super App" to customize, scale and personalize the advisor and client experience
SEATTLE, Aug. 1, 2023 /PRNewswire-PRWeb/ -- Invent®, the leading platform solving for the integration and data management challenges in wealth management, announced today that the firm has launched a "Super App" development platform. Similar to Super Apps such as the global phenomenon WeChat and the recently announced "Everything App" from Elon Musk's new X endeavor, Invent's Super App development platform will enable the wealth management ecosystem to bring together multiple applications and workflows, such as account opening and servicing, CRM, reporting, billing, trading, financial planning, risk profiling, rebalancing, client portals and more, into one unified and configurable application.
"The industry has long been in search of a unified technology development strategy that is open-architecture and allows firms to plug in the applications and systems they want to enhance, streamline and scale their service models," said Oleg Tishkevich, CEO of Invent. "Our Super App development platform goes above and beyond existing 'all in one' systems to enable Registered Investment Advisors (RIAs), broker-dealers and custodians to bring together the curated set of applications they have identified as mission critical to their service delivery into a seamless, integrated and flexible user interface."
According to a recent T3 / Inside Information advisor technology survey, 20% of the industry is using an all-in-one solution, however the researchers hedge this growth analysis by pointing out that many firms using a unified solution also bring in additional third-party technologies to supplement functionality, showing the massive potential for the Super App development model.
"A true Super App for the wealth management space would be a game changer. Most integration in our industry today is still cobbled together and the ability to have all these critical tools on a single app will be a huge competitive advantage," said Howard Morin, Founder and Partner at Helium Advisors.
Industry analyst Gartner* is referring to Super Apps as a "Swiss Army knife" with a range of component tools (micro-apps) that the user can use and remove as needed. "We see Super Apps gaining interest from forward-thinking organizations," said Jason Wong, Distinguished VP Analyst at Gartner. "Those organizations embrace composable application and architecture strategies to power new digital business opportunities in their industries or adjacent markets." Gartner expects that by 2027, more than 50% of the global population will be daily active users of Super Apps.
Showing how prevalent this integration problem has been and the potential for a wealthtech Super App, Gabe Medina and Daniel Pichardo from Bridge Financial Management noted, "On a daily basis we are working in no less than 6 applications at once, and at times, we are in and out of 10 applications in a day. Sadly, it's an inefficiency that we've become accustomed to – application integration has been an annoyance for years. We wish we could have our most used applications in one seamless solution."
"Our decades-long relationships, partnerships and integrations with the advisor technology community enable us to orchestrate an elegant solution to the integration problem that has been plaguing the industry for years," said Tishkevich. "These vendors are having great success and momentum building on the scalable, secure, enterprise-grade Invent platform and we look forward to expanding our partnerships to provide the highest level of choice and flexibility as the wealth management ecosystem now has access to unprecedented ability to deliver their unique client value proposition through our Super App platform."
To learn more about Invent's award-winning solutions, log onto http://www.invent.us.
Invent is an award-winning cloud-native platform, methodology and consulting approach for systems and data architecture, integration and digital experience dedicated to serving firms in the wealth management and real estate industries. Currently serving over 20,000 unique users on their platform, INVENT is rapidly becoming the industry standard for fintech development. http://www.INVENT.us
Tricia Higson, Invent, 800.888.0706, [email protected]