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DriveWealth Forges Agreement with Access Softek to Bring U.S. Stock Investing to Credit Union Members, Community Bank Customers
[May 19, 2020]

DriveWealth Forges Agreement with Access Softek to Bring U.S. Stock Investing to Credit Union Members, Community Bank Customers


CHATHAM, N.J., May 19, 2020 /PRNewswire/ -- DriveWealth, LLC, a U.S. based leader in global digital trading technology, today announced it has forged an agreement with online and mobile banking software provider Access Softek, Inc. Through the partnership, DriveWealth will integrate with Access Softek's new investing app, EasyVest, which will be distributed via banks and credit unions, and DriveWealth will provide trade execution, clearing, settlement and custody services for the transactions.

Access Softek's new EasyVest tool is a robo-advisor that provides the services of a personal investment advisor via automation – the first such product to integrate with any bank or credit union online and mobile banking platform.

Access Softek developed the first downloadable apps for mobile banking technology. Its automated investment tool offers seamless integration of investment accounts within online and mobile banking to its financial services clients that include more than 400 credit unions and community banks.

DriveWealth CEO Robert Cortright said: "We believe credit unions and community banks represent a great growth opportunity for us, as they are increasingly embracing new technologies that will offer their loyal, engaged members and customers value-added services. Access Softek has been a true leader and innovator in introducing robust, intuitive apps for hundreds of financial institutions who are looking to provide their customers with the best banking and investment experience available.  We are excited to partner with the first firm to successfully integrate banking and robo-advisor investing on its initiative to make trading in U.S. stocks affordable and easily accessible to people across the U.S. who love their credit unions and their community banks."

Access Softek CEO and owner Chris Doner said: "DriveWealth's leadership, expertise and reputation have made the firm a valuable partner, allowing us to focus on the robo-advisor tool itself.  Ease of use is such a critical selling point for the end consumer that seamless integration of investments into the individual's everyday digital banking platform is critical. It allows people to overcome inertia or fear and make the choice to invest in the market for the first time. Plus, te user is more likely to log into their account to track progress, add contributions and make other adjustments.  It can also serve as a pipeline for an even more robust broker-dealer program. We believe this new offering uniquely positions credit unions and community banks for the future."



Access Softek client Sno Falls Credit Union, headquartered in Snoqualmie, Washington, will be the first to launch the automated investment product to its members.  Sno Falls President and CEO, Timothy Williams said: "What a tremendous opportunity this is for our members to begin investing. With as little as $200, a member can open an investment account directly within online banking after answering questions to assess the member's risk tolerance. They can set up automatic transfers between those accounts, view balances and make adjustments to the time horizon or investment objectives – again all within Sno Falls' online and mobile banking. We see the addition of this innovative solution as a true competitive advantage."

The partnership with Access Softek is the latest in a series of relationships DriveWealth has established globally on six continents, including recent agreements to increase affordable access to the U.S. markets to investors of all sizes in the U.S., Nigeria, India, the Middle East and Brazil, as well as in Europe through a groundbreaking offering with Revolut. The firm offers partners its unique investing technology, along with a customizable suite of application programming interfaces (APIs) that they can leverage to enhance their services.  DriveWealth, which launched its patent-pending real-time fractional share trading capabilities in 2016, was founded with the mission to democratize investing in the U.S. stock market. The firm is dedicated to eliminating barriers investors typically encounter with legacy brokers, creating its own proprietary infrastructure that allows investors to purchase securities without minimum account balances, high transaction costs or full share quantities.


According to the National Credit Union Association, as of the fourth quarter of 2019, there were more than 5,200 credit unions in the U.S. with at least 120 million members and deposits totaling more than $1.5 trillion. The not-for-profit institutions are owned and controlled by the members who use their services, and their profits return to the members in the form of reduced fees, higher savings rates and lower loan rates, generally resulting in high levels of customer satisfaction.

About DriveWealth
DriveWealth Holdings, Inc., wholly owns DriveWealth, LLC, a member of FINRA and SIPC.  DriveWealth, LLC is a licensed carrying and self-clearing broker offering digital brokerage solutions to broker-dealers, advisors and online partners worldwide through its proprietary investment platform.  DriveWealth, LLC delivers access to the U.S. securities markets along with an array of digital products that power both emerging and established financial companies. For more information, please visit DriveWealth.com.

About Access Softek, Inc.
According to FI Navigator, Access Softek holds the number two market position for number of mobile banking clients and number three position for enrolled mobile members. They set the standard for the digital banking landscape, developing the first downloadable apps for mobile banking technology. Since that time, Access Softek has maintained a track record of innovation from biometric authentication to real-time fraud prevention and automated investing integrated directly into a financial institution's digital banking platform.  Access Softek's biometric authentication software won the CUNA Technology Council "Best of Show" award in February 2020. These are the latest steps in Access Softek's history of innovative digital banking firsts, which include the first app-based mobile banking; first web-based Personal Financial Management (PFM); and first triple play of app, WAP and SMS banking. Since 2004, Access Softek has continued to deliver industry firsts to over 400 bank and credit union customers from its Berkeley, California headquarters. Learn more at AccessSoftek.com.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/drivewealth-forges-agreement-with-access-softek-to-bring-us-stock-investing-to-credit-union-members-community-bank-customers-301061374.html

SOURCE DriveWealth; Access Softek


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