Praxent, a fintech design and engineering accomplice to monetary corporations, immediately introduced that it has supported the launch of alooola, education-based wealth administration and funding advisory platform.
Based by Glen Eagle (RIA Glen Eagle Advisors/Dealer-Supplier Glen Eagle Wealth), alooola was designed to fulfill the unmet wealth administration wants of youthful era traders via specialised schooling and monetary advisory companies. Initially partnering with organizations and universities to supply schooling and assets, the funding agency instantly acknowledged the necessity for a digital-first resolution to successfully serve its shoppers. Glen Eagle wanted to automate the onboarding course of and create an intuitive cell software with sturdy performance in an effort to enhance the person expertise and scale.
Glen Eagle chosen Praxent due to its deep monetary companies experience, together with regulatory and compliance nuances, its cell app design and improvement prowess, and its expertise finishing complicated integrations with main trade gamers. Praxent helped the RIA rework its proof of idea into a totally automated wealth administration platform and executed strategic integrations with key digital establishments Plaid and DriveWealth following an intensive custodian evaluation. The result’s a contemporary, digitally optimized possibility for youthful traders to higher handle their funds.
“As Millennials proceed to build up better wealth, we acknowledged that there wasn’t an answer available in the market that addressed this era’s distinctive wants and digital affinities,” stated Rob Michel, Chief Funding Officer, Glen Eagle Advisors, and Head of Investments, alooola. “Working with Praxent, we have been capable of rapidly and affordably create a seamless, intuitive cell app that enables trendy traders to higher put together for his or her monetary futures whereas permitting our enterprise to stay related with the subsequent era.”
The technical and implementation methods created by Praxent saved alooola $70,000 in pointless characteristic builds, expedited time to market, and resulted in vital new capabilities, comparable to real-time buyer onboarding and automatic portfolio rebalancing. alooola launched in March and has already acquired overwhelmingly optimistic suggestions, enabling them to assist meet the wants of the subsequent era of traders.
“alooola is empowering the subsequent era of traders with the instruments, know-how and steering wanted to make smarter monetary choices,” stated Tim Hamilton, CEO of Praxent. “With our design and improvement experience and integration steering, Glen Eagle has been capable of flip their imaginative and prescient into actuality, all with a shortened improvement cycle and decreased whole price of possession. We’re proud to have supported alooola via this launch, positioning them for seamless development and success.”