Klarwert, a subsidiary of Volksbank Bielefeld-Gütersloh, has joined forces with wealthtech platform Elinvaron on digitalised asset management.
Experts from both companies have developed an asset management solution that has been customised exclusively to meet the requirements of Klarwert.
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The firm will offer its central asset management service for Volksbank in the future. According to the firm, the move is expected to result in ‘assets in the triple-digit millions’ during the first quarter itself.
It also plans to extend the offering to other cooperative lenders, levering the multi-client capability of the Elinvar platform, with the aim of exceeding the billion-euro mark for assets under management in the next few years.
Volksbank member of the Board Ulrich Scheppan said: “The successful cooperation of our asset management subsidiary klarwert GmbH with Elinvar impressively proves how rewarding a cooperation between experienced portfolio managers and innovative technology partners can be for all parties involved. That’s why we will continue to strategically expand our investments and collaborations with fintechs and startups.”
Klarwert said its specialists have been using Elinvar WealthTech Platform as a Service to manage their clients’ portfolios digitally for several weeks now.
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By GlobalDataThis platform, which allows clients to access the status of their portfolios at any time, also provides quarterly reports and contract management.
It also features additional functionalities such as deeper attribution analysis and automatic allocations in portfolio management.
Elinvar co-founder and CEO Chris Bartz said: “Our joint best-in-class solution combines klarwert’s proven expertise in asset management with our core technological competence.
“We offer cooperative banks everything they need for digital asset and wealth management. With us, they get the ideal technological platform, including all the necessary interfaces to the ecosystem.”
In May last year, Elinvar raised an undisclosed sum of money, in a funding round led by Goldman Sachs, to further grow its team and move into new markets worldwide.
