AI-powered monetary providers platform Uptiq has cast a strategic partnership with and obtained a minority funding from Broadridge Monetary Options. The quantity of the funding was not disclosed.
Courtesy of the partnership, Uptiq will combine its know-how into Broadridge’s Wealth Lending Community (WLN) to present monetary advisors entry to AI-automated, securities-based lending workflows.
As Cion Digital, Uptiq made its Finovate debut at FinovateSpring 2022. The corporate rebranded the next 12 months.
AI platform for monetary providers, Uptiq, introduced a brand new strategic partnership with and a minority funding from Broadridge Monetary Options. The corporate, which made its Finovate debut as Cion Digital at FinovateSpring 2022, will combine its know-how into Broadridge’s Wealth Lending Community (WLN). This may give monetary advisors and banks working with Broadridge entry to turnkey, agentic AI purposes to automate securities-based lending workflows. The quantity of the minority funding was not disclosed.
“Uptiq was purpose-built to take away the heavy lifting from lending,” Uptiq CEO and Founder Snehal Fulzele stated. “Our AI-driven platform surfaces essentially the most related mortgage choices, actively guiding advisors to allow them to concentrate on serving shoppers as an alternative of wrestling with course of complexities. By connecting straight with Broadridge’s Wealth Lending Community banks, we’re making it simpler than ever to supply securities-based lending as a compelling and compliant liquidity resolution.”
By way of its Wealth Lending Community, Broadridge gives a digital platform that connects wealth managers, monetary advisors and their shoppers with a community of lenders that provide securities-based strains of credit score. This streamlines entry to securities-based lending options, particularly for these monetary advisors and wealth administration corporations that aren’t affiliated with a financial institution. The Uptiq integration will make it simpler for monetary advisors to supply and evaluate mortgage choices, in addition to automate a spread of handbook duties together with referral submission, mortgage processing, and covenant monitoring. The partnership helps monetary advisors present extra credit score choices for shoppers, enhances shopper service and compliance, and streamlines the method of offering lending options to wealth administration clients.
“This strategic partnership helps modernize wealth administration, addressing the rising demand for synthetic intelligence in monetary providers, in addition to a must develop a greater wealth lending course of that’s environment friendly, compliant, and customized,” Broadridge President of Wealth Administration Mike Alexander stated. “With Uptiq’s AI-powered instruments and Broadridge’s Wealth Lending Community, we’re enabling advisors to ship smarter lending suggestions, save time, and finally assist their shoppers entry the liquidity wanted to attain their monetary objectives. Our funding demonstrates our dedication to driving innovation within the wealth lending ecosystem.”
Broadridge serves shoppers in asset administration, capital markets, wealth administration, and associated industries. The corporate’s know-how and operations platforms course of and generate greater than seven billion communications a 12 months, and help the buying and selling of greater than $10 trillion of securities internationally. Broadridge was based in 1962 as part of Automated Knowledge Processing (ADP), and was spun off as an unbiased firm in 2007. Headquartered in Lake Success, New York, Broadridge employs greater than 14,000 associates in 21 international locations, and is publicly traded on the NYSE below the ticker BR. The corporate has a market capitalization of $31 billion.
Making its Finovate debut at FinovateSpring 2022 as Cion Digital, Uptiq rebranded the next 12 months in an effort to underscore the corporate’s dedication to serving wealth managers and monetary advisors. The corporate’s platform combines deep area experience with AI to streamline operations and produce higher outcomes throughout monetary workflows. Uptiq’s agentic AI-powered apps automate lending, banking, and wealth administration workflows, whereas the agency’s AI Workbench gives a no-code platform to facilitate each workflow deployment and future development.
Picture by Morgan Housel on Unsplash
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