Under the large umbrella of Fintech start-ups, a new branch is currently gaining increasing attention: wealth management. In Israel as well as globally, the start-ups in this sector have been attracting a growing amount of funds, and this trend is set to continue as money management and investments need to become simpler and more accessible to accommodate the requirements of millennial retail customers.
Evidence of this phenomenon is shown by the recent news, appeared on Calcalist magazine, announcing that Investment house Meitav Dash Investments Ltd. and venture capital firm Viola Group have partnered with Danish strategic marketing firm Designit to launch a new fintech incubator program in Israel.
This incubator aims to support companies developing solutions for long-term savings, investment management, pension and insurance, including automation processes, fraud prevention, and identity verification.
In fact, the “WealthTech Challenge” program is set to welcome three start-ups for a period of four weeks of mentoring, business and market assistance as well as access to data and technological infrastructure leading to a final “Demo Day”. The winner will then continue to collaborate with Meitav Dash mentoring team to develop a POC.
It might be too early to say whether WealthTech will become the next big thing in 2019, however, the opportunities for disruption and growth look promising.