Financial service firm Aster has launched a mobile-based digital wealth management platform for the Middle East and North Africa (MENA) market.
Developed to meet the growing needs of digital native wealth owners in the region, the platform will offer actionable, holistic view of bankable and non-bankable assets to the investors.
It is designed to enable investors manage their assets through timely price-, position- and portfolio composition updates, the company said.
Aster’s iOS application will be available from September 2021 with cross-platform support and new feature rollouts in the roadmap.
Commenting on the development, Aster founder and CEO AlAjeel said: “A digital-first environment is not a luxury but a necessity. Our experiences have been shaped by technology throughout our lives and we’ve seen that the region’s approach to wealth management has not kept pace.
“Investors in the region want to understand the potential environmental, social, and corporate governance footprint and manage their portfolio more responsibly and sustainably.
“Using Aster’s impact scoring metrics, based on Environment, Social & Governance (ESG) benchmarks for over 12,000 companies, investors will be able to evaluate if their capital is truly aligned with their values.”
Aster is said to support global integration of external data sources, and automated price updates for over one million financial instruments across asset classes including stocks, bonds, alternative funds, and cryptocurrencies among others.
The firm is led by founder and CEO Talal AlAjeel, co-founder and CFO Aman Singh, chief product officer Christopher Pruijsen, and chief technology officer Abdelhamid Attaby.
It has offices in Kuwait and Abu Dhabi Global Market (ADGM).
Last year, portfolio manager Wealthface introduced robo-advice direct indexing platform for passive investors in the MENA region.