- AI-powered financial services platform Uptiq has forged a strategic partnership with and received a minority investment from Broadridge Financial Solutions. The amount of the investment was not disclosed.
- Courtesy of the partnership, Uptiq will integrate its technology into Broadridge’s Wealth Lending Network (WLN) to give financial advisors access to AI-automated, securities-based lending workflows.
- As Cion Digital, Uptiq made its Finovate debut at FinovateSpring 2022. The company rebranded the following year.
AI platform for financial services, Uptiq, announced a new strategic partnership with and a minority investment from Broadridge Financial Solutions. The company, which made its Finovate debut as Cion Digital at FinovateSpring 2022, will integrate its technology into Broadridge’s Wealth Lending Network (WLN). This will give financial advisors and banks working with Broadridge access to turnkey, agentic AI applications to automate securities-based lending workflows. The amount of the minority investment was not disclosed.
“Uptiq was purpose-built to remove the heavy lifting from lending,” Uptiq CEO and Founder Snehal Fulzele said. “Our AI-driven platform surfaces the most relevant loan options, actively guiding advisors so they can focus on serving clients instead of wrestling with process complexities. By connecting directly with Broadridge’s Wealth Lending Network banks, we’re making it easier than ever to provide securities-based lending as a compelling and compliant liquidity solution.”
Via its Wealth Lending Network, Broadridge provides a digital platform that connects wealth managers, financial advisors and their clients with a network of lenders that offer securities-based lines of credit. This streamlines access to securities-based lending solutions, especially for those financial advisors and wealth management firms that are not affiliated with a bank. The Uptiq integration will make it easier for financial advisors to source and compare loan options, as well as automate a range of manual tasks including referral submission, loan processing, and covenant tracking. The partnership helps financial advisors provide more credit options for clients, enhances client service and compliance, and streamlines the process of providing lending solutions to wealth management customers.
“This strategic partnership helps modernize wealth management, addressing the growing demand for artificial intelligence in financial services, as well as a need to develop a better wealth lending process that is efficient, compliant, and personalized,” Broadridge President of Wealth Management Mike Alexander said. “With Uptiq’s AI-powered tools and Broadridge’s Wealth Lending Network, we’re enabling advisors to deliver smarter lending recommendations, save time, and ultimately help their clients access the liquidity needed to achieve their financial goals. Our investment demonstrates our commitment to driving innovation in the wealth lending ecosystem.”
Broadridge serves clients in asset management, capital markets, wealth management, and related industries. The company’s technology and operations platforms process and generate more than seven billion communications a year, and support the trading of more than $10 trillion of securities internationally. Broadridge was founded in 1962 as a part of Automatic Data Processing (ADP), and was spun off as an independent company in 2007. Headquartered in Lake Success, New York, Broadridge employs more than 14,000 associates in 21 countries, and is publicly traded on the NYSE under the ticker BR. The company has a market capitalization of $31 billion.
Making its Finovate debut at FinovateSpring 2022 as Cion Digital, Uptiq rebranded the following year in an effort to underscore the company’s commitment to serving wealth managers and financial advisors. The company’s platform combines deep domain expertise with AI to streamline operations and produce better outcomes across financial workflows. Uptiq’s agentic AI-powered apps automate lending, banking, and wealth management workflows, while the firm’s AI Workbench provides a no-code platform to facilitate both workflow deployment and future growth.
Photo by Morgan Housel on Unsplash
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