Fidelity International (Fidelity) has become the first asset manager to sign the Fintech Pledge, demonstrating its ongoing commitment to digital innovation.
The Fintech pledge, which is part of a wider fintech strategy across the UK and is supported by HM Treasury and the Fintech Delivery Panel, sets world-leading standards to accelerate the growth of the UK’s fintech sector by promoting valuable partnerships between financial institutions and tech scaleups.
By becoming a signatory, Fidelity has committed to adhering to the pledge’s five principles, ensuring productive relationships with prospective fintech partners:
Fintech Pledge Principles
1. Provide clear guidance to technology firms on how the onboarding process works through a dedicated online landing page
2. Provide clarity to tech start-up firms on their progress through the onboarding process
3. Provide a named contact, guidance and feedback
4. Encourage good practice and improvement
5. Commit to implementing this process six months from signing this pledge and providing bi-annual feedback in the first year
Fidelity has extensive experience investing in new and emerging technologies, through Fidelity International Strategic Ventures, a dedicated venture capital team set up to invest in fintech businesses and technologies.
Alokik Advani, Managing Partner, Fidelity International Strategic Ventures, said: “Engaging with start-ups is a vital component for our business and allows us to continue to drive forward our efforts to incorporate technological innovations for our clients. We will continue to embrace new and exciting technologies and look forward to partnering with yet more start-ups in the future. Fidelity International is delighted to be supporting the Fintech Pledge and are proud to be leading the way for the asset management industry.”
Fintech Partnerships underway
Examples of partnerships already underway include SteelEye, the compliance technology and data analytics firm. Fidelity is using SteelEye’s data platform to comply with a range of obligations for both oversight and regulatory purposes.
In addition, Fidelity International has partnered with Moonfare, the leading digital investment platform for high quality private markets funds, to let its clients access private market funds. Under the agreement, through its digital platform, Moonfare will provide access to private market strategies for Fidelity’s institutional and wholesale clients. This partnership addresses an increasing demand from investors aiming to achieve attractive returns by adding alternative investment strategies to their portfolios.