Access Softek, Inc., an online and mobile banking software provider, has launched its
On average, only two percent of individuals engage with their financial institution’s wealth management program. EasyVest is designed to complement and grow existing wealth management programs, while also serving the investment needs of the other 98 percent of individuals. Access Softek’s EasyVest robo-advisor provides community financial institutions a low-cost tool to better compete with national banks and fintechs by offering a new way to attract and retain consumers, and opens a new, fully compliant, no-risk revenue stream. EasyVest also offers a set of APIs that work with any online or mobile platform.
"Over the next decade, America will experience the largest generational transfer of wealth we’ve ever seen as Baby Boomers pass along their assets to their children and grandchildren,” said Chris Doner, founder and CEO of Access Softek. “Robo-advisors especially appeal to the generations receiving the wealth transfer. Financial institutions that provide the technology recipients want will benefit from the transfer.”
EasyVest assesses the consumers’ timeframe, risk appetite, income and investment goals in order to suggest the right portfolio for them. Consumers invest in individual or retirement accounts, purchase fractional shares and automatically rebalance their portfolio. EasyVest features an array of low-cost, broad index ETF portfolios. With its intuitive dashboard and the ability to set up recurring transfers, it has never been simpler for consumers to set up investments and let the technology do the hard work for them.
“What a tremendous opportunity this is for our members to begin investing,” said Timothy Williams, president and CEO of Sno Falls Credit Union. “With as little as $200, our members can open an investment account directly within the online banking channel after answering questions to assess the member’s risk tolerance. They can arrange automatic transfers between accounts, view balances and make adjustments to the time horizon or investment objectives – again, all within Sno Falls’ online and mobile banking channels. We see the addition of this innovative solution as a true competitive advantage.”