Wed, June 21, 2023 at 10:15 AM EDT·4 min read
The partnership is the first as BridgeFT rolls out its WealthTech API Marketplace, including partners from across the WealthTech value chain.
CHICAGO and IRVINE, Calif., June 21, 2023 /PRNewswire/ — BridgeFT, a cloud-native, API-first wealth infrastructure software company that enables financial institutions, fintech innovators, and registered investment advisors (RIAs) to deliver better, data-driven outcomes for their clients, and Yayati, a quantitative investment technology company offering wealth personalization infrastructure for enterprises – RIA platforms, Broker-Dealers, Asset Managers, and fintechs – to build scalable advisor workflows and client investment experiences, announced today that the two firms are forming a strategic partnership to provide Yayati’s applications to BridgeFT clients through an integrated API marketplace.
Under terms of the partnership, BridgeFT will power Yayati’s applications through its industry-first, cloud-native WealthTech-as-a-Service offering, WealthTech API. When RIAs, broker-dealers, TAMPs and asset managers sign on with BridgeFT or Yayati, they will have access to trade-ready, multi-custodial data pre-integrated into Yayati’s tax intelligence capabilities, including tax transition, tax-loss harvesting, rebalancing, “direct indexing 2.0,” tax withdrawal, and tax location.
Yayati is the first of several partners BridgeFT plans to add as it rolls out similar API-first partnerships to offer a WealthTech API Marketplace across the WealthTech value chain supporting a broad range of use cases. The Marketplace will allow clients access to a BridgeFT-curated group of partners that are reshaping wealth technology with an API-first approach to delivering application services that are pre- integrated with BridgeFT’s WealthTech API infrastructure. More partners will be added in the coming months.
“Yayati fills an important gap in the wealthtech landscape by offering a range of tax-smart investing options,” said Joe Stensland, Chief Executive Officer of BridgeFT. “Together, BridgeFT and Yayati are simplifying and streamlining wealthtech infrastructure, making it easier for clients to build NextGen Digital Wealth experiences, enabling the data and mission-critical applications which drive competitive differentiation for their firms. We look forward to partnering with Yayati and further building out the WealthTech API Marketplace.”
Initially, Yayati began as a BridgeFT client, utilizing WealthTech API to provide connectivity to all custodians and back-office providers, thus enabling its users to automatically incorporate essential account and investment data. However, as the engagement evolved, the firms recognized that their complementary, pre-integrated services create a natural synergy that would provide significant value to their shared clients, enabling them to launch bespoke NextGen wealth apps better, faster, and cheaper.
“BridgeFT has created the pathway for wealth management firms to build a differentiated tech stack and a unique client experience,” said Rajeev Sharan, Founder and Head of Product at Yayati. “Working with BridgeFT as a service provider has unlocked new opportunities for our company. We’re excited to formalize the partnership, which will provide the broader wealth market with more choices, greater customization, and interoperability.”
As the industry’s first WealthTech-as-a-Service platform, BridgeFT eliminates the need for individual data feeds from a range of custodians and back-office providers along with providing API-first mission-critical applications like reporting, fee billing and portfolio analytics, allowing wealth management firms and FinTech companies to create differentiated, next-generation wealth management applications.
Yayati’s AI-powered technologies simplify the next generation of enterprise wealth management with interlinked building blocks to unlock personalization seamlessly in one place, including: tax intelligence, risk-aware portfolio analytics and proposals, tailored indexing and structured investment solutions, and advisor-assistive engagement tools.
BridgeFT is a cloud-native, API-first Wealth Infrastructure software company that enables financial institutions, FinTech innovators, TAMPs, and registered investment advisors to deliver better, data-driven outcomes for their clients. Leading financial services firms and technology companies trust BridgeFT to power their digital wealth management ecosystems and automate critical back-office operations—seamlessly aligning essential wealth data, proactive client insights and reporting, and portfolio management automation to deliver a truly personalized client experience. From an integrated advisor solution to the industry’s only WealthTech-as-a-Service platform offering open APIs, BridgeFT delivers the infrastructure needed to power next generation wealth management applications. For more information, visit bridgeft.com.
Yayati LLC, a subsidiary of Yayati, Inc., is a quantitative investment technology company offering wealth personalization infrastructure for enterprises – RIA platforms, Broker-Dealers, Asset Managers, and fintechs – to build scalable advisor workflows and client investment experiences. Yayati’s AI-powered technologies serve as interlinked building blocks to unlock personalization seamlessly in one place, including: tax intelligence, risk-aware portfolio analytics and proposals, tailored indexing and structured investment solutions, and advisor-assistive engagement tools. With Yayati, wealth enterprises can save on vendor and integration expenditures while enhancing capabilities through methodologically consistent algorithms and API-enabled services. Behind Yayati is a team of quantitative financial professionals steeped in investment management experience who also act as an “outsourced quant desk” boutique for their clients. For more information, visit yayati-ai.com. Yayati, LLC’s affiliate, Yayati Asset Management, LLC, is a registered investment advisor that provides overlay management and subsidiary services to other asset managers incorporating Yayati, LLC’s technologies.