Italian asset manager Azimut has partnered with open banking fintech Salt Edge to launch millennial-focused mobile investment app Beewise.
Azimut, Italy’s largest independent asset manager, has partnered with Salt Edge through its subsidiary Azimut Investments.
Salt Edge enables third parties to get access to bank channels via a unified gateway and develops the necessary technology for banks to become compliant with open banking regulations globally.
The partnership will leverage Salt Edge’s connectivity with 5,000 banks worldwide, enabling Beewise users to connect their existing bank accounts securely and directly to the new app.
Salt Edge’s open API platform will allow Italian investors to aggregate account information and initiate payments from their smartphones.
Salt Edge country manager, Italy, Andrei Scutari, says: “Beewise is definitely a step forward in investment services and takes personal finances management and financial education to a higher level.”
Azimut co-CEO and global head of asset management, Giorgio Medda, says Salt Edge’s open banking expertise has played an “important part” in creating “a user-friendly mobile app that would simplify what is believed to be a complicated subject – investments”.
Beewise founder and digital business development manager at Azimut, Matthias Van Den Eede, says “We’re bringing young people closer to smart money management and investment.”
Van Den Eede adds: “Salt Edge’s Account Information and Payment Initiation APIs, alongside AI and Machine Learning algorithms, will provide Beewise users with in-depth financial insights and enable them to invest in various thematic investment projects developed by the Azimut global team.”