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WealthTech Weekly: November 25, 2022

Welcome to the news highlights of this week.

What’s going on:

- Credit Suisse shares displeasing projections.

- TradingView integrates Velocity Trade

- Quantifeed is to purchase Alpima

- ET Money launches a new campaign in the face of World Cup 2022

- Wealthtech somehow defies the funding slowdown

Let’s take a better look at what happened.


Big names, new names

Credit Suisse foresees a $1.6 billion loss this quarter as it has started a vast strategic overhaul. As net asset outflows persist, the bank has revealed that they comprised around 6% of assets under management at the end of Q3. Also, this Wednesday, the company announced a 9,000-job cut and traded at an all-time low.

A leading Swiss bank suffering losses is another consequence of the recession’s strike on the global banking network.

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TradingView, a charting and trading platform for professionals, has tapped Velocity Trade, a brokerage and wealth management provider, as a broker partner. The move follows a large stake buy TradingView has already completed in the company.

Further expansion of the U.S. platform will grow the unique investor community, which stretches across 40,000 websites.

Read more here.

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Hong Kong based Wealthtech Quantifeed is on its way to purchasing its industry peer Alpima. Together, the two companies aim to provide unparalleled portfolio management services to private banks, brokers, asset managers, etc.

Read more here

 

As the scandalous World Cup 2022 approaches, one of its sponsors, ET Money, has started a new brand campaign to address users' wealth management challenges.

One of India's leading Wealthtech software providers, ET Money is on a mission to simplify building capital for Indians and help them find their financial freedom.

Read more here

Bigger picture

Wealthtech proves resistant to funding slackening. Instead, it has seen a 41% growth in deal activity compared to 2021, FinTech Global found out.

Read more here

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Svietoslava Myloradovych avatar
Svietoslava Myloradovych
Content fairy. Verbing around the brightest moments in Fintech for INSART.
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