Praxent launches Accelerator App for WealthTechs to speed time to market

By Gloria Methri

US-based FinTech product agency Praxent has launched its Accelerator App to help WealthTech companies expedite time to market. The offering includes pre-built functionality that allows WealthTech providers to launch a robo-advisor with less cost and more speed.

The resources needed to build table stakes features and functionality typically don’t leave enough room for creating notable differentiation. Praxent is helping companies overcome this challenge.

The app’s pre-built features include account opening/KYC, accounting funding through MX, recurring deposits, robo-advisor portfolios, investor dashboards, and an already established custodian integration through APEX.

With Praxent’s app, WealthTech providers no longer have to build from the ground up and are free to spend their time, effort, and money on unique functionality.

“Creating the basic functionality necessary to stand up a robo-advisor app, plus navigating the complex compliance landscape of investing, typically drains significant time and resources from start-ups,” said Connor Coughlin, Chief Commercial Officer, FinTech at APEX. “With Praxent’s Accelerator App, including the pre-built integration to our flexible digital-first custody engine, those with great ideas will gain significant time and budget back, allowing them to focus on their competitive differentiators.”

Those that leverage Praxent’s Accelerator App, which is built on a single-tenant architecture, will then work with Praxent, benefitting from its engineering, UX design, and FinTech expertise to design and develop their apps’ unique features and functionality.

“With our Accelerator App, we are delivering the speed of off-the-shelf technology with the flexibility of building it yourself – a blend that doesn’t exist anywhere else in the market today,” said Tim Hamilton, CEO and founder of Praxent. “This new offering is another example of how Praxent is accelerating FinTech innovation for our clients without ever sacrificing quality.”