Digital brokerage solution provider DriveWealth announced on Thursday it is joining forces with INDmoney, an artificial intelligence (AI) and machine-learning-based wealth management platform in India, to bring U.S. stock investing technology and capability to INDmoney clients.
DriveWealth reported that the collaboration with INDmoney is the latest in a series of relationships DriveWealth has forged globally on six continents, including recent agreements to increase affordable access to the U.S. markets to investors of all sizes not only in India but in the U.S., Nigeria, and Brazil, as well as in Europe through an offering with Revolut. Last month, DriveWealth announced it formed a partnership with UAE-based wealth management company and online investment platform, Wealthface.
Speaking about the INDmoney partnership, DriveWealth CEO, Robert Cortright, stated:
“INDmoney has taken a unique approach to wealth management through its AI and machine-learning capabilities, giving its customers a powerful tool to help guide their investment decisions. We’re proud to make DriveWealth’s technology and infrastructure available to INDmoney, which will enable its clients to access valuable new investment opportunities in the U.S. stock market.”
INDmoney Head of Investment Products, Nikhil Behl, further added:
“We will be one of the first Indian FinTechs to offer a simple, straightforward experience for investing in U.S. stocks. This will give our clients access to the much-demanded U.S. listed stocks and exchange-traded funds (ETFs) using fractional trading. This is in line with our philosophy of providing diversified investment strategies to our users on a single SuperMoneyApp. DriveWealth’s technology, licenses, and support have allowed us to add this important capability to our offering.”
As previously reported, DriveWealth is on a mission to democratize investing in the U.S. stock market by making it available to everyone, globally, at an affordable cost. The company noted is has developed a unique proprietary ecosystem powered by licenses to clear fractional-share orders.