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NewTech Friday: Nucoro – the evolution of the asset management value chain 27 August 2021

Lennart Asshoff, CEO, Nucoro, spoke with Efma’s Boris Plantier about his company’s mission to democratize wealth management. 
What led to the creation of Nucoro?

Throughout my career in the asset management industry, the biggest challenge we faced was that implementing quantitative models and methodologies was ineffective due to operational inefficiencies. The manual processes, including email-based communication between client and advisor, slowed the decisions and execution process which ultimately had a big financial impact on both parties and hugely limited the scalability of the service.
 
As a result, in 2018 we launched Exo Investing, the first AI-driven investment platform. We knew it was expensive to acquire clients ourselves so the business model was to take our modular and flexible technology and partner with large financial institutions in order to gain access to clients and distribute the services offered within the asset management value chain. However, rather than partnering with Exo, financial institutions wanted to buy the technology instead. 
 
At the same time, we saw strong demand in the US from retail customers for these products, with the likes of Betterment and Wealthfront, however there wasn’t a supply from the large financial institutions as their technology was so antiquated they could never meet their customers’ demand in a scalable fashion. 
 
And so, Nucoro was born. Our aim was to build the technology to allow the evolution of asset management through the hyper automation of the asset management value chain for simple and complex investment products or portfolio management styles. The mission is to enable people that have 1000 euros to invest in the same way as someone who has 100 million euros: to democratize wealth management. 

Could you present Nucoro’s offer?
 
Nucoro enables financial institutions to build digital savings, investment, trading and wealth management propositions at speed and scale.

Our modular, cloud-native platform lets financial services build personalized, flexible solutions that grow with their customers, in a secure environment with consistently high performance. They can develop powerful solutions at speed and scale, helping customers do more with their money — while automation and integration with third-party solutions enhances profits and expands your services. 

With offices in London, Madrid and Geneva, we offer international scale from a platform that is backed by market-leading names in the financial and fintech sectors. We’re there to help drive firms’ digital vision to completion, guiding development to make the greatest impact for the firm and their customers. 

With Nucoro’s technology, financial institutions can transform their offer, stay ahead of change, and keep growing the business. 

What’s coming next for Nucoro? 
 
We already operate in three different countries, all in different regulatory environments. Our primary focus now is to continue partnering with financial firms across Europe to enable them to offer digital investment services to as many customers as possible. 

 Expanding to these markets is made easy thanks to the modularity, customization and cloud-native infrastructure of the Nucoro Platform. Our continued focus from a product perspective is to add additional functionalities such as cryptocurrencies, as well as improving our range of functionalities that allows firms to build products for the whole spectrum of customer, from entry stage investing to later stage wealth management where a hybrid advisory approach between automated and human guidance may be most suitable.
 
The way that we’ll achieve this is through scaling the team. We have always operated remotely across different geographies and see value in having a wide-spanning team made up of the best technological talent, operational acumen, and investment experience.

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