Bahrain FinTech Bay (BFB) and the Fintech Consortium (FTC) have partnered with RobustWealth, a US-based B2B Fintech start-up, to introduce robo-advisory technology.
The technology uses mathematical algorithms to support investment and wealth management decisions with minimal human intervention. The technology is one of the many Fintech verticals that have seen significant advancement in recent years.
The RobustWealth platform offers wealth managers a comprehensive suite of operational technology and trading features, including risk management profiling, automated portfolio allocations and rebalancing, complete private labelling and various administrative functions.
Maissan Al Maskati, chairman of Fintech Consortium Bahrain, said: “We are excited to launch RobustWealth’s platform at Bahrain Fintech Bay, and believe this technology, which digitizes the wealth management value chain, will innovate and strengthen the positioning of the Bahraini and GCC wealth management sector.
“The RobustWealth platform is one of the best we have tested. Since officially launching in early 2017, RobustWealth has seen impressive growth and adoption by high profile financial institutions in the US market. Our partnership aims to support RobustWealth’s expansion in Bahrain and the wider GCC region, and to work with the RobustWealth team to further innovate this technology to meet regional requirements.”
Rick Frisbie, chairman of RobustWealth, said: “RobustWealth looks forward to working with our partners at Bahrain Fintech Bay and deploying our technology in one of the world’s fastest growing wealth management markets.
“This partnership is an important milestone in RobustWealth’s development and is a unique opportunity for us to extend the capabilities and application of our platform to new areas. We aim to build upon our innovative product development and technology solutions through local collaboration by being part of Bahrain’s exciting fintech ecosystem.