Huddlestock Fintech : 03/05/2023 Huddlestock IR Family Office Agreement
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PRESS RELEASE
(Stavanger, NORWAY – 3 May 2023) Huddlestock Fintech AS (OSE: HUDL): Signs the first Family Office to use a Portfolio Management System and reporting platform.
Huddlestock Fintech AS, a supplier of innovative, end-to-end technology solutions to the capital markets, treasury and asset management industry, has entered into an agreement with a Norwegian family office to adopt the Portfolio Management System (PMS) and reporting platform for its investment portfolios. The client wishes to remain anonymous, and it is therefore agreed between the parties that the client’s name shall not be published.
By choosing a digital PMS and reporting platform, the Family Office will be able to have a complete system for entering, monitoring and reporting all its investments in one digital system. The platform enables all investment products to be entered, whether they are listed on a regular stock exchange or whether it is an “over the counter” investment. Huddlestock Investor Services will manage the service and assist the customer with the necessary support. The customer will initially operate the technical platform himself with administration of user groups, set up ISIN numbers, define investment targets, enter investment transactions and create customized and necessary reports. The system is a cloud-based SaaS solution with a 2-factor authentication for secure access. The current agreement will give Huddlestock NOK 300,000-400,000 in annual recurring income initially.
“We are delighted that this family office has chosen to work with us. Through Huddlestock Investor Services, the client will experience a digitized platform that allows them to gain greater visibility and control over all their investments in one solution as well as efficiency in reporting functionality We are excited to follow the customer on their journey,” says John E. Skajem, CEO of Huddlestock Fintech.
The service will be operated by Huddlestock Investor Services in collaboration with our partner, Britech. Britech is a long-term partner of Huddlestock and supplies a technical solution called Pivolt. Huddlestock Investor Services has incorporated Pivolt into the current technical platform that has been operational for many years. The implementation is already underway and will be live during the first half of 2023.
The agreement delivers on the broad spectrum of Huddlestock’s product offering. The wealth management sector in the capital market is part of the company’s core investment area, and it is exciting to see that the solution offered takes care of all aspects required by a demanding Family Office that requires a portfolio management and reporting solution. Huddlestock is happy to see the customer as their first customer to make use of the offer in Scandinavia.
This information is mandatory in accordance with section 5-12 of the Norwegian Securities Trading Act.
To view all press and investor releases, please take a look in the investor relations section of our corporate website www.huddlestock.com/investor-relations
For further information, please contact:
John E. Skajem, CEO, +47 418 87 412, [email protected]
Leif Arnold Thomas, Chief Corporate Development, +47 982 15 520, [email protected]
About Huddlestock Fintech:
Huddlestock Fintech is an innovative technology software provider with a leading expertise in professional services. We deliver innovative and sustainable technology solutions to the capital markets, finance and asset management industry.
Through its technology offering, Huddlestock offers an innovative, compliant and data-centric WealthTech SaaS, which accelerates the digital transformation and trends of hyper-personalization and on-demand banking within the wealth management industry. Huddlestock’s SaaS powers the integration of affordable, efficient white-label trading and investment services, underpinning Huddlestock’s mission to deliver financial inclusion by democratizing access to capital markets.
Through its world-class professional services business, Huddlestock delivers strategic technology solutions and process automation for the financial services industry. This range of services has driven Huddlestock to become the preferred provider of financial consulting services and technology solutions in the Nordics. Huddlestock Fintech AS was listed on the Euronext Growth Market on 26 November 2020, as Norway’s first fintech company to be listed on the stock exchange.
For more information, please visit www.huddlestock.com
Huddlestock Fintech AS is registered in Norway no. 821 888 522. Registered office: Kanalsletta 2, 4033 Stavanger, Norway
