Timken (pictured at right) has a diverse background in financial services. He is currently CEO and partner at financial software startup, KnowVera, where he is building a pair of stock market trading simulations through KnowVera’s subsidiary, Ronin Game Studios. Before KnowVera, Temkin was EVP and head of exchange traded instruments, Americas, for Thomson Reuters. Previous to Thomson Reuters, he was EVP at Bridge Information Services.
Temkin pointed to DriveWealth’s key value to consumers: its focus on education and its ability to bring trading and investment access to popular U.S. stocks. He says the technology “has the potential to change the way in which individuals around the world invest their money.” In return, Robert Cortright, founder and CEO of DriveWealth, pointed to Temkin’s platform-building experience, saying this experience will be key as the company seeks to develop new solutions for its international business partners and their retail clients.
DriveWealth, which made its Finovate debut at FinovateSpring 2015 in San Jose last month, makes it possible for international investors and traders to buy and sell securities listed in the United States. For most investors around the world, access to U.S. markets is restricted to the wealthy and well-connected. DriveWealth’s brokerage-as-a-service platform allows brokers, developers, and content providers outside the United States to offer U.S. stocks, exchange-traded funds (ETFs), and ADRs (American Depository Receipts) to their clients. DriveWealth provides a “full-stack” platform—meaning everything from customer onboarding and account funding to trade execution and clearing takes place via DriveWealth’s platform.
Founded in May 2012 and headquartered in Chatham, New Jersey, DriveWealth has raised more than $10 million in funding, and serves clients in more than 135 countries since launching in August 2014.