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First Rate Launches Into Latin America Through Acquisition of Finantech SpA

First Rate, a leading wealthtech services provider to the wealth management industry, announced the acquisition of Finantech SpA, a Chilean based wealthtech that offers comprehensive reporting solutions to family offices and private banks.

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“Acquiring Finantech supports our global strategy of seeding international hubs and offices that are locally run, distributing First Rate products and services to the LatAm region,” said Grayson Greer, First Rate’s Global Managing Director. “What attracted us to Finantech was first and foremost the team, whose knowledge and professional experience serving financial institutions in Chile has been a key driver for new and retained clients over the past 9 years. The addition of Finantech’s product capabilities will provide many opportunities for growth, innovation, and expansion into other regional markets.”

Finantech will continue to offer its data aggregation and performance reporting solutions locally to clients while incorporating many of First Rate’s award-winning machine learning and artificial intelligence solutions. Finantech’s products and services include:

Data Feed – Custodial feed application that connects to every client account information source.

Aggregga – Data aggregation and investment performance analytics application that provides a complete view of your portfolio structure, exposure, and performance with a flexible UI.

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Reporta – A custom report building interface that enables the team to use a drag-and-drop functionality to create custom report layouts for their clients.

Current and future clients of First Rate Chile can expect to benefit from enhanced data privacy and cybersecurity measures in addition to the comprehensive suite of tools being leveraged by First Rate customers across the globe.

All employees will remain with the firm along with Jóse Antonio Honorato, Finantech’s General Manager, serving as the Managing Director of First Rate Chile.

“We believe that this acquisition presents an exciting opportunity for both our companies. By joining forces, we will be able to bring together the best of both worlds, leveraging our strengths to achieve additional success in Chile, greater Latin America, and the global wealth management market,” said Honorato.

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 [To share your insights with us, please write to sghosh@martechseries.com] 

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