Croesus and Mako Financial Technologies (Mako FinTech) have partnered to integrate their respective wealth management solutions. The agreement aims to improve productivity in the day-to-day work of wealth management professionals.

As part of this partnership, the Croesus Advisor portfolio management system will be integrated with Mako FinTech’s solution for digitally automating critical Know Your Customer (KYC) processes, documents, and workflows.

Integrating these solutions will make it easier and faster for wealth management companies to welcome and manage new and existing investors, the two companies said in a joint statement.

“The lack of integration between IT solutions for the various tasks that financial professionals perform on a daily basis has always been cited as a source of frustration and delays by wealth managers,” said Marc Riel, Vice-President, Business Development and Strategic Partnerships, North America at Croesus. Croesus wealth management solutions include portfolio management platforms, portfolio rebalancing tools, and application programming interfaces (APIs).

A few months ago, the company launched an API platform designed to simplify the integration of data from its portfolio management solution into other FinTech systems and applications. With this platform, financial institutions and FinTechs can use a variety of APIs to access Croesus Advisor data for use in their banking systems or wealth management applications.

“Being able to automate and digitise customer onboarding processes and maintain data consistency throughout the investor life cycle ensures lower costs, optimal integration, and better customer service,” said Raphaël Bouskila, President and Founder of Mako FinTech. Founded in 2018 in Montréal, the company develops digital technologies to facilitate online client onboarding, renewal, and investment processes.

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