B2B technology provider Visible Capital has been named in The WealthTech 100 list of the pioneering companies transforming the global investment and banking industries.
The Edinburgh-based company uses open banking technology to provide wealth managers, pension providers and IFAs with controlled access to the financial data required for compliance.
Visible Capital's advisors include former head of Scotland for Deloitte Ian Steele and co-founder of WPP Preston Rabl.
Visible Capital was founded by three Scottish tech veterans Richard Braidwood, Ross Laurie and Christian Burgin. It secured £500,000 seed funding from TechStart Ventures and a group of eight private investors.
The wealthtech industry has seen huge growth over the last four years as new digital services to oversee personal finances, manage institutional investments and provide financial advice become more prominent.
Competition for the list has grown along with the growth of the sector. Total funding for the sector grew from $2.8 billion in 2016 to more than 47.8 billion at the end of last year according to FinTech Global.
The 100 list was chosen by a panel of analysts and industry specialists from a list of more than 1,200 companies provided by FinTech Global.
The finalists were recognised for their innovative use of technology to solve a significant industry problem, generate cost savings or efficiency improvements across the investment value chain.
Visible Capital CEO Ross Laurie said: “Visible Capital is delighted to be named in WealthTech 100 list, and recognised as a leading technology provider within the sector.
“Financial advisors, paraplanners and pension providers recognise the need to improve their processes when collecting customer data, and enhance the digital experience in line with customers new and higher expectations, like they’re used to in every other area of their life”.
