Fiserv To Provide Financial Advice Through GoldBean

Fiserv, global provider of financial services technology solutions, recently announced the addition of tailored digital advice and education to its Wealth Management Network from Fiserv offerings. The new service will equip financial institutions to better serve beginning investors.

In a press release, Fiserv said the capabilities were added through an agreement with financial services startup GoldBean. The agreement resulted from GoldBean’s participation in the 2016 INV Fintech accelerator launched by Bank Innovation and Fiserv to further innovation in financial services.

“The GoldBean focus on advice and education for beginning investors brings a fresh approach to the wealth industry, where developing the pipeline of future wealth clients is a strategic imperative but has not been well-addressed from a product perspective,” said Cheryl Nash, president of investment services at GoldBean. “The partnership provides our clients with a low-cost, digitally-enabled advisory model that opens the door to new investors by providing them with a digital channel to start investing at their own speed.”

GoldBean is an “investing for beginners” platform designed to promote financial literacy and empower users to be confident, self-directed investors. By analyzing people’s actual spending, GoldBean's digital investment platform creates customized portfolios featuring companies and brands that end users already know and use every day. The platform’s education modules and software help build strong financial habits and turn savers into investors.

The GoldBean capabilities will be available to Fiserv clients on Wealth Management Network from Fiserv and can be integrated with Unified Wealth Platform from Fiserv to support a single-platform strategy with a traditionally managed-account program. The offering is aimed at helping financial advisors attract customers through relevant new services.

GoldBean’s capabilities can be leveraged by financial institutions, banks and credit unions to provide financial education to their client base, Fiserv said in the release.

“Our mission is to turn savers into confident investors,” said Jane Barratt, founder and CEO of GoldBean. “Our agreement with Fiserv, prompted as a result of our participation in the INV Fintech accelerator, will enable us to reach a much wider audience as we work with financial institutions to reach their customers with investment advice and education.”



The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.

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