How they describe themselves: DriveWealth’s vision is to be the global aggregator of retail investor accounts, offering partners and customers low cost access to the desired US equity markets over our full stack platform. Our brokerage as a service offering enables partners (foreign brokers, developers, and content providers) worldwide to easily integrate and offer US stocks, ADR’s and ETF’s. Our partners have several hundred million customers in the aggregate. DriveWealth has customers in over 135 countries since our commercial launch in August 2014.
How they describe their product/innovation: DriveWealth’s innovation is to offer “Brokerage as a Service.” By way of our full-technology stack and regulatory licenses, financial companies that currently offer investing in their local markets (i.e. India, China, Latin America, US) can now offer their clients the ability to trade US stocks in a low-cost, friction-free environment. We present to these partners embeddable HTML5 “widgets” for account opening, funding, compliance document upload and trading. Partners can use these multilingual plug/play widgets as well as industry standard APIs (RESTful and FIX) to easily add US stocks to their offering. We take care of all the “hard stuff” including trade execution, regulatory compliance, safety of funds, and clearing of trades.
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed
Bus. Dev.: Michael Fitzgerald, Corporate Strategy, 973-816-2419
Press: Nicole Dugan, Strategic Marketing, 973-559-6754
Sales: Mark Smedley, Bus. Dev. & Partnerships, 973-532-5003