5 June 2019: Cashwerkz (ASX : CWZ) today announces its digital cash investment platform is now available for thousands of wealth advisers in Australia using the award-winning Praemium Integrated Managed Accounts Platform. This latest data feed partnership will make Cashwerkz’s marketplace offering from many Authorised Deposit Taking Institutions (ADIs), immediately available for advisers using Praemium and their clients in a single platform and administration environment.
“This strategic fintech alliance is another win for the organisations involved, Australian investors and also for our ADI partners,” said Hector Ortiz, CEO of Cashwerkz. Ortiz continued: “Cashwerkz innovation is unique. The transparency of Cashwerkz’s online marketplace allows investors and wealth managers alike to confidently search for competitive market rates. Our homegrown technology streamlines investor identification and onboarding for cash investment facilities and rollover capabilities, which is ideal for wealth managers. There truly is nothing like the breadth of ADI partners Cashwerkz has created in the market today.”
Praemium’s Head of Product and Marketing, Mat Walker commented: “We are delighted to welcome Cashwerkz as a data feed partner to the Praemium Integrated Managed Accounts Platform. One of the major strengths of the Praemium platform is its ability to facilitate the broadest range of investment assets for consolidated reporting. Our Virtual Managed Accounts solution (VMA) has been the market leader for a long time in the non-custodial investment space and currently reports on more than $140 billion of investment portfolios and assets.
The combination of Cashwerkz’s broad range of Term Deposits and At Call solutions and Praemium’s market-leading open architecture, data feeds and reporting will provide great efficiencies for advice businesses. Praemium are also exploring further adviser efficiency opportunities with Cashwerkz across each of the other managed accounts solutions we have on the one integrated platform for custody and non-custody.”