2020-09-21 15:09Press release

KIDBROOKE features in Stockholm Fintech Guide 2020

Kidbrooke, a Swedish tech company providing APIs for building next-generation wealth management services to address the key challenges within the modern financial industry, is extremely proud to be included in this year’s Stockholm Fintech Guide.

Invest Stockholm has now released the 2020 edition of the Stockholm Fintech Guide which encapsulates the latest investment statistics, trends, and changes to the Fin-Tech scene, as well as providing a snapshot of the individuals that are key contributors to Sweden’s thriving FinTech scene.

Stockholm is home to one of the most vibrant tech ecosystems in Europe and ranks #10 globally according to Startup Genome 2020’s ecosystem rankings. More than 400 FinTech ventures in Sweden were scouted and reviewed for this report.

Kidbrooke provides technology enabling the automation of financial decision-support, powering hybrid and self-service customer journeys within the wealth management businesses. By doing so, wealth managers can slash the cost of providing consumers with high quality financial guidance while providing new and improved services to a whole new segment of the market.

In Summer 2020, the Swedish financial corporation, Skandia released a new pension advisory tool running on Kidbrooke’s backend. The system crunches users’ numbers before providing near-instantaneous bespoke financial advice. “We are applying the success of Spotify to the wealth management industry. We are shifting the paradigm from ownership to access by providing companies such as Skandia with a turn-key solution,” says Zaliia Gindullina, Head of Business Development at Kidbrooke.

Kidbrooke’s strategy is supported by a wider move to digital services: 60% of wealth management clients already prefer digital channels for receiving advice, whereas only 34% of wealth managers favour giving advice digitally. And it’s a growing market, stretching far beyond the super-rich as more and more people worldwide seek savvy wealth management solutions.

Kidbrooke’s OutRank Financial Planning solution is a powerful technology platform that powers investment decision-making based on the simulations of the underlying personal balance sheets of end customers. The solution, offered as an API, can generate realistic stochastic economic scenarios and apply these scenarios to evaluate any given balance sheet, transaction by transaction, into the future. Built for performance, it scales very well across different workloads. The supported customer journeys include holistic financial planning, short to medium-term investments, pension advice and mortgage advice.

“ . . it is time to wake up the traditional wealth managers if they hope to take advantage of the customer bases they have accumulated over the years. . . .The only thing that is needed is the willingness to adapt to new customer demands”, says Zaliia.

To find out more please visit https://kidbrooke.com/solutions

For more information:
+46 (0)700 407 845

About Kidbrooke

Kidbrooke improves decision-making processes within the financial services industry and beyond. Historically, best practice financial decision-making support has been available only to the wealthiest and still many wealth managers are only accessible to high net-worth individuals. The company believes in a world where everyone can make informed financial decisions. As such, Kidbrooke empowers its customers with industry leading financial risk analytics at an affordable price-point to improve accessibility to financial guidance and support.