DriveWealth powers launch of ForeSCITE, an AI-driven investing app out to raise the bar for self-directed investing

July 8, 2021
Partner News
July 8, 2021
Partner News

Chatham, New Jersey, July 8th, 2021 – DriveWealth, a leading brokerage infrastructure platform, today announced its partnership with ForeSCITE, an AI-driven online platform and app for personal finance and investment, to power their self-directed and robo advisor offering.

ForeSCITE’s platform, which officially launched in June of 2021, helps users better understand and manage their finances and investments through an integrated, easy-to-use platform. The offering features a short and medium-term price trend forecaster that works alongside its next-generation self-directed and robo advisory offering to provide insights to investors for increased transparency and involvement throughout the investing process.

Through the partnership, users can create a new DriveWealth brokerage account directly in the ForeSCITE app. ForeSCITE users are also able to aggregate other types of investment accounts from outside providers into the app.

“We’re thrilled to be working with a company like ForeSCITE that is on the cutting edge of some very important trends right now in the world of personal investment accounts,” said Bob Cortright, Co-Founder and CEO of DriveWealth. “AI-driven investment advice and the ability to aggregate and manage multiple accounts is what investors are going to need and demand moving forward, and we’re looking forward to supporting ForeSCITE as they seek to make this a reality in the market.”

“We have a bold mission to build the future of digital personal investing at ForeSCITE. The savvy retail investors are now ready for the next generation of trading platforms and investing tools,” said Balkrishna Shagrithaya, Chairman of ForeSCITE. “To accomplish this, we’re pleased to be working with a company like DriveWealth, a company that is at the cutting edge of brokerage infrastructure, which complements our next generation investment tools perfectly and shares in our vision to spur a new era of investing for the masses.”

About DriveWealth

A pioneer in fractional investing and embedded finance, DriveWealth is a cloud-based B2B brokerage infrastructure provider that powers both traditional and innovative investment experiences for more than 90 partners in over 150 countries. DriveWealth’s mission is to reshape the world of retail investing by enabling banks, global brands, and fintechs to provide the level of investment access and advice, previously reserved only for the wealthy, to underbanked and underserved customers across the globe. DriveWealth was the first company in the world to get a license to offer fractional U.S. equities through our proprietary, patent-pending and award winning API-driven brokerage infrastructure.

For more information, please visit drivewealth.com.

About ForeSCITE

ForeSCITE delivers AI driven SaaS  solutions for the retail and enterprise through its ensemble of mobile and web based digital personal investing applications for retail, and TAMP solutions for the enterprises. ForeSCITE delivers AI driven custom thematic tax efficient model portfolios. ForSCITE’s AI-driven platform can also create model portfolios, by optimizing existing portfolios to hedge against risk. These portfolios are created on demand using sophisticated patent pending portfolio optimization. Optimization and model creation is based on a diverse set of input parameters and constraints such as dividend yield, CVaR, return, asset class level and individual security level constraints. All stats delivered are Ex-Ante with automatic periodic rebalancing to maintain an optimized portfolio with highest risk adjusted returns. Its mobile applications deliver the most comprehensive AI powered digital personal finance tools such as Robo investing, Goals planning and intelligent Budgeting to keep its clients ahead of the investment curve.

For more information, please visit https://www.forescite.ai/