Dani Fava of Envestnet: an integrated investment solution coming this year


The winner of the super app race remains to be seen, she noted, pointing to a list of the top 20 brands in the United States, including Amazon, Apple and Google.

Many non-financial companies have already started integrating financial solutions into their apps and websites or are planning to do so, she said, citing data showing that 73% of brands plan to launch integrated financial services, which which is expected to generate $844 billion in additional revenue by 2026, she said. .

The application programming interface revolution that has taken place over the past two years has provided this capability, she told attendees.

Envestnet seeks to be a major player in the coming battle by offering integrated financing solutions to consultancies and other businesses.

“Good news for advisors”

The investments Envestnet has made in integrated finance should help not just the company and investors, but advisors as well, Fava said at last year’s Envestnet Advisor Summit, held virtually for the second consecutive year in 2021 due to the pandemic. .

Amazon, Apple and Facebook could “finally come into our space and really disrupt it” with integrated funding, she said at the time.

“But that’s not bad news for advisors. I believe this is good news for advisers,” she said at the time. Indeed, “all of these experiences” that integrated finance is likely to create by merging the ecosystem of retail, gaming, fintech/payment platforms and small and medium banks “will incubate future advisor clients. “, which she says will “increase their wealth.” in different places that suit them better” thanks to this new category of financial services.

“Then companies like Envestnet will power the integrated finance ecosystem [and] create the funnel of tomorrow’s advisor clients,” she added.

Envestnet Integrated Investments

Ahead of the 2021 summit, Envestnet announced several integrated finance-related initiatives.

For example, Investnet | Yodlee has launched an enhanced Developer Portal which it says provides an “enriched developer experience” and “builds” on Yodlee’s platform to “advance the integrated financial ecosystem by accelerating developers’ ability to create hyper-personalized and actionable financial wellness experiences.”

Additionally, while announcing its acquisition of fintech company Harvest Savings & Wealth Technologies last year, Envestnet said the transaction enhanced its API-based financial wellness ecosystem and helped “strengthen our to enable integrated finance, which we see as a key driver of the future”. financial services”.

Envestnet was already well positioned to power integrated finance, according to Fava. “We’re already there,” she said last year. “We have so many capabilities that are used by advisors and other financial institutions today that really put us at the very end of this path to integrated finance.”

Indeed, Envestnet’s API network includes MyBlocks modules for financial planning and budgeting; aggregation of data and information; automated savings; data-driven thematic investing; thematic and values-based reports; conversational artificial intelligence for customer support; access to experienced professionals with its network of advisors; and module market exchanges, according to Fava.

Envestnet’s APIs can potentially be used to build applications that take advantage of the built-in financial capabilities. The company’s goal is to be able to provide a central view of an investor’s “financial life”, create financial well-being for those investors and “incubate” them until ‘They’re willing to talk with advisors, and then share that central view with advisors,’ Fava explained.

(Photo: Dani Fava of Envestnet; Photo by Jeff Berman)


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