Purefacts was awarded WealthTech100 innovation leader
The fourth annual WealthTech100 list for 2022 is launched today by specialist research firm FinTech Global. The prestigious ranking recognizes the world’s most innovative technology solution providers that address the digital transformation challenges and opportunities faced by investment firms, private banks and financial advisors. The WealthTech sector has experienced huge growth in recent years as the surge in online usage and customer demand for best-practice digital experience have accelerated innovation. The global WealthTech market is projected to reach $11.9bn by 2030. The process to identify the 100 WealthTech innovation leaders was more competitive than ever this year and over 1,200 companies were considered for inclusion. A panel of analysts and industry experts voted for the 100 finalists by assessing the impact those companies are making by using technology to solve a significant industry problem or to generate efficiency improvements across the investment value chain. According to Richard Sachar, a director of FinTech global, “The rise of digital distribution channels and online financial products has opened new client segments for investment firms and financial advisors. Businesses that fail to keep up with the latest technologies and innovation will be less competitive and lose market share over time. The WealthTech100 list helps senior decision-makers filter through all the vendors in the market by highlighting the leading companies in areas such as client acquisition, financial planning, portfolio management and digital brokerage.” Some of the world’s leading companies in the 2022 WealthTech100 include: A full list of the WealthTech100 and detailed information about each company is available to download for free at www.WealthTech100.com.
PureFacts Recognized in ESG FinTech 100 2022
New York (from TSAM East Coast), October 6, 2022 – PureFacts Financial Solutions, the leading WealthTech provider in fee billing and revenue management – serving over 100 of the world’s leading global financial firms – has been recognized as a 2022 ESGFinTech100 winner. ESG, is a trend that is definitely here to stay. Investors want companies to generate returns and do so in a way that aligns with their values Robert Madej, Founder & CEO of PureFacts Financial Solutions. “Being recognized globally through ESGFinTech100 inspires our ongoing commitment to our clients’ business.” The company is participating in TSAM East Coast (The Summit for Asset Management) this Thursday October 6 in New York. PureFacts CEO, Robert Madej, will chair the Technology and Automation stream and be part of the ESG panel discussion as well. About the award Given the huge rise in appetite for ESG tech solutions in financial services, the ESGFinTech100 was produced to identify the 100 most innovative tech companies every financial institution needs to know about as they consider and develop their ESG assessment and performance improvement strategies. The standout companies were chosen by a panel of industry experts and analysts who reviewed a study of over 500 ESG tech companies undertaken by FinTech Global, a data and research firm. “The ESGFinTech100 list helps senior management filter through all the solution providers in the market by highlighting the most innovative ESG tech companies in areas such as ESG Assessment & Reporting, Regulatory Change Management, ESG Intelligence & Data Analysis, Supply Chain Screening and Banking & Investment products,” FinTech Global director Richard Sachar said in a September 28 press release announcing the winners. PureFacts, which just last week announced its own program for sustainable and meaningful community growth called PurePossibilities, has been at the forefront of solving some of the most complicated problems through innovative AI and machine learning algorithms. The company’s investor retention solutions, client value solutions, data anomaly detection, data insights and ESG Reporting Engine are among some of its offerings for wealth and asset managers. “Doing good is becoming increasingly good for business’” said Rajini McRae, President of PureFacts Financial Solutions. “Companies that show a better ESG score will have a lower cost of capital leading to faster and more sustained growth.” A full list of the ESGFinTech100 can be found at www.ESGFinTech100.com.
PureFacts has been named to the AIFintech100 list by Fintech Global
We are pleased to announce that, for the second year in a row, PureFacts has been named to the AIFintech100 list by Fintech Global. This prestigious list, selected by industry experts and analysts, includes the world’s most innovative companies that develop AI technologies for financial services. PureFacts’ AIFinTech100 recognition is a testament to the hard work our team has put in. We are very proud of this achievement and will continue to forge ahead with innovation and excellence to provide the best value for our clients. Companies on the list are building AI and machine learning technology that solves challenges and improves efficiency in financial services. AI and data analytics has been a major development for the financial sector over the past few years and the pandemic has only accelerated the demand for the technology. These solutions can help companies boost efficiency, reduce manual workloads and more. A report from IDC claimed that the total potential cost savings for banks from AI applications is estimated to reach $447bn by 2023. With such a burgeoning sector, a panel of industry experts made their assessment for the AIFinTech100 based on research on over 2,000 FinTech companies. Now, more than ever, established financial institutions need to be aware of the latest AI and data analytics technology in the market to deliver competitive financial products and reach new customers. FinTech Global director Richard Sachar said, “The AIFinTech100 list helps senior decision-makers in the industry filter through all the vendors in the market by identifying the market-leading AI innovators which will have lasting impact on the industry.” With a list of the biggest names in the industry, it is no surprise that many have hit headlines in recent months. Another of the 100 companies to recently close a funding round is PureFacts. The company develops software that helps financial services firms increase revenue, reduce risk, and deliver better outcomes to their clients. It closed a $37m funding round in December 2021, with commitments coming from Canadian Business Growth Fund (CBGF), The Bank of Nova Scotia and Round13 Capital. More detailed company information for all 100 companies can be found in the report. The full AIFinTech100 list, which can be downloaded for free, can be found at www.AIFinTech100.com.
How PureFacts is looking to revolutionize advisory services for all
Established in 2010, PureFacts was a seed that grew from the mind of Robert Madej. The company was formed out of a custom software firm that Robert started in 1997 with one of his brothers. PureFacts provides enterprise wealth management and asset management solutions for many of the world’s leading financial services firms. Their vision is to create meaningful wealth solutions to help people live their best lives. According to Madej, PureFacts is the dream of his life. Born in Canada, Robert Madej was raised by a hardworking single mother who scrimped and saved to give Madej and his three siblings the best start in life. Along the way, she was a terrific budgeter, prolific saver and smart investor who began investing with a simple RRSP in the mid-1980s. After reading a book by Gordon Pape she opened her first investment account through a well-known Canadian mutual fund company and she achieved great financial results. Madej stated that today, his mother is happily retired from a successful career in nursing and living on a golf course in San Jose, California. He said, “In my own life, I’ve seen the difference that wealth management, saving and solid financial advice can make and what it did for my family. At PureFacts, we are excited about helping other families achieve the same goals.” The vision for Madej was to create worldwide wealth by providing wealth managers with technology solutions that increase their value proposition to their clients, “The idea was to make wealth management more accessible and increase the value of the advice, so it makes a bigger difference in the lives of more people. Creating wealth for regular people by helping to provide better outcomes for savers and investors creates better opportunities and helps them live their best lives.” PureFacts develops a number of technology solutions that are aimed at increasing the value of the advice an advisor can provide their own clients. Currently, the firm helps its clients with fee billing and revenue management, client reporting, retirement income planning, goals-based-investing and digital onboarding. The company’s solutions have delivered strong results and helped them build an impressive share of the global market for their products. Key trends What are the trends in WealthTech that are key to PureFacts and their clients? Two hot-button topics cited by Madej include retirement income planning and ESG. He remarked, “The reason why retirement income planning is front-and-centre for PureFacts is that Baby Boomers are retiring. The decumulation phase of wealth management is being discussed more and more among our clients. Essentially, our clients – global wealth and asset managers – are thinking about how to deliver the best value to their retiring clients, and how the wave of retirement and inter-generational wealth transfer, can assist them in growing their own businesses. PureFacts’ decumulation solution can help financial planners and advisors quickly deliver effective decumulation plans to their clients and help asset and wealth managers grow their businesses while providing peace of mind to people entering a new phase in their lives.” ESG, meanwhile, is a trend that is definitely here to stay. Madej explained, “ESG is changing the world as investors expect companies to generate returns and do it in a way that aligns with their values. There are many good reasons for companies to want to do just that, but Madej believes it will come down to the cost of capital. Companies able to “show a better ESG score” will have a lower cost of capital leading to faster and more sustained growth. In short, doing good will be good for business. Funding raise Back in December 2021, Pure Facts raised $37m in a funding round. According to Madej, the raise came after a long period of fiscal prudence by the company. He said, “We had been completely bootstrapped up until that point. We were very proud of our track record of being a profitable firm, month after month and year after year. “The reason why we raised the funds was because we thought we could spur on our growth and also fund an acquisition or two. Our near-term focus is on the US market but we’re also looking at opportunities to grow globally. We’re also looking to expand our sales force and our product and client delivery team around the world.” “PureFacts is recognised as a leader in fee billing and revenue management in both Canada and Europe and we are making strides in the US market, so we want to continue to push that. But really, our focus is on becoming a global company growing our revenue in all geographies. “Part of the reason for the new capital was to invest in our newest technology, and we have a great new reporting platform. We’ve been working a lot on ESG solutions and data aggregation, AI, insights-as-a-service and making sure that all data we have from our various clients around the world, can be used to build a business that provides better services for their own clients.” Plans and goals What is next for PureFacts? Following the company’s big funding raise, at the end of last year, the company is looking to the future. Madej detailed, “We’re looking forward to a breakthrough year this year. We’re working very hard to roll out our newest technology and we are focused on attracting new clients around the world and finding the right acquisition target. What is the ultimate goal for PureFacts? Madej said, “Over the next five years we plan to grow through a mixture of organic and acquisitions. Our target is to grow our global revenue north of $100m, which we believe is achievable. We also see ourselves playing in all the major geographies of the world and being a truly global company. We would love to see wealth management firms get better at servicing their clients and providing a better value proposition and we’d love to see people understanding wealth better, understanding budgeting better, saving money better, investing better and growing wealthier.
PureFacts & FutureVault Automate Statement Delivery
The two Toronto-based innovative WealthTech solution providers partner to combine FutureVault’s secure document Vault with PureFacts’ financial data capabilities to improve compliance and streamline back-office administrative functions. TORONTO, March 31, 2022 — FutureVault Inc., (FutureVault), an industry-leading provider of secure document exchange and Digital Vault solutions purposely built for the wealth management and financial services industry, and PureFacts Financial Solutions, a leading provider of WealthTech solutions that calculate and automate custodial data including costs and revenues, and of enterprise reporting and insights, today announced a new strategic partnership. The two well-known WealthTech solution providers have built and established an integration that combines PureFacts’ statement rendering, fee calculation, and data management platform with FutureVault’s proprietary document vault, document retention, compliance, and file-sharing capabilities. The result is a best-in-class, seamlessly integrated technology solution, that enables institutions and firms to not only meet their various administrative and compliance responsibilities but better customize a service experience that meets client expectations through the secure delivery of investor statements. The current integration offers several benefits, including but not limited to: Daniel Kenny, Chief Executive Officer of FutureVault, commented, “Our integration [and partnership] with PureFacts offers a massive opportunity for institutions and advisory firms to continue building efficiencies around the secure delivery of documents to increase workflow capacity, satisfy compliance requirements, and enhance their client’s ability to manage important financial documents. In a world where automation and integration are table stakes, our combined efforts materially augment back-office capacity and overall client experience.” This is an incredible partnership for our company. I am proud to have the opportunity to continue to work closely with Daniel Kenny and the remarkable team at FutureVault, where our joint efforts are bringing market-leading wealth solutions to the financial services industry Rob Madej, Founder and CEO of PureFacts Financial Solutions. The FutureVault and PureFacts integration is currently live and in use by several firms and remains readily available to existing FutureVault and PureFacts customers. About FutureVault FutureVault is an industry-leading provider of secure document exchange and Digital Vault solutions for the financial services industry that enables institutions, advisors, and households to manage information better, together. FutureVault offers a powerful white label solution that transforms the way organizations manage, store, and deliver client documents and statements, onboard and retain clients, and manage compliance and audit readiness leading to significant operational efficiencies. By leveraging FutureVault’s patented technology, organizations save significant time and money in their day-to-day workflows. Visit futurevault.com. Follow us on LinkedIn. About PureFacts Founded in 2010, PureFacts is a global company serving over 100 clients with a combined one trillion in assets under management. PureFacts’ wealth-tech solutions help some of the largest and most recognizable global wealth and asset management firms increase productivity, reduce costs, and create enhanced customer experiences. Its’ solutions help firms retain their most valued clients, deliver high-quality advice, and prevent costly mistakes. PureFacts is recognized as a Global AIFintech100 and a Wealthtech100 Company. Global AIFinTech100 recognizes tech companies using artificial intelligence to transform financial services. Wealthtech100 recognizes the world’s most innovative Wealthtech companies that every leader in the wealth and asset management industries needs to know about. Visit https://fintech.global/wealthtech100/ to learn more.