NEW YORK, April 5, 2019 /PRNewswire/ -- iCapital Network, the financial technology platform that is improving access and efficiency in the alternative investment marketplace, today announced it has been recognized in the 2019 FinTech Breakthrough Awards as the Best Banking Infrastructure Platform.
The FinTech Breakthrough Awards recognize the FinTech innovators, leaders and visionaries from around the world in a range of categories, including wealth management, personal finance, lending, payments, banking, investments, RegTech and InsurTech. This year's winning products and companies were selected from over 3,500 nominations based on their innovation, design, user experience and overall technological advancement. iCapital was awarded for its white-label technology program, which allows the asset and wealth management industry to integrate a customized version of iCapital's end-to-end technology solution with an existing legacy platform to help manage operations and administration of alternative investments.
"iCapital takes an innovative approach to powering the alternative investment industry with unique, modular solutions and we are pleased to be recognized for our efforts to modernize the space and ease the process for advisors and their high-net-worth clients," said Lawrence Calcano, chief executive officer of iCapital Network. "In a landscape where technology has disrupted the status quo in many industries, we take pride in supporting asset and wealth management firms as a partner and an enabler."
Award winners are selected by a panel of senior-level FinTech experts from within the financial services space, including technology startup leaders and veteran technology executives with experience in a range of information security positions and perspectives.
iCapital's modular platform is powered by a premier technology solution that fully automates the unique subscription, administration and reporting processes of alternative investments, and it facilitates access to private investment opportunities through an independent origination and due diligence process that prioritizes quality offerings from an array of managers. The platform was designed to meet the continually evolving needs of all industry participants, the advisors who need simplified, tech-enabled investment processes to help incorporate alternative investments in their clients' portfolios, the asset managers looking to scale their fundraising efforts and the wealth management firms seeking a state-of-the-art technology platform to enhance or replace existing systems.
In September 2018, iCapital announced its acquisition of Bank of America's alternative investment feeder fund operations. With the close of this deal, and the completion of a similar transaction with Morgan Stanley in March 2019, the iCapital platform now services approximately $40 billion in invested capital for nearly 100,000 accounts.
Additionally, iCapital has secured strategic investments from some of the largest firms operating in the asset and wealth advisory industry, including BlackRock, Blackstone, JPMorgan Chase, Morgan Stanley, The Carlyle Group, and UBS, among other strategic investors.
About The FinTech Breakthrough Awards
FinTech Breakthrough, part of the Tech Breakthrough Awards organization, is an independent awards and recognition platform devoted to honoring excellence in Financial Technologies and Services companies and products. The FinTech Breakthrough Awards provide public recognition for the achievements of FinTech companies and products in categories including Payments, Personal Finance, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and more. For more information, visit http://www.FinTechBreakthrough.com.
About iCapital Network
iCapital Network's mission is to power the world's alternative investment marketplace. Its financial technology platform has transformed the way alternative investments are bought and sold through the development of tech-based solutions for advisors, their high-net-worth client base, asset managers and banks. The firm's flagship platform offers advisors and their clients access to a curated menu of private equity and hedge funds at lower minimums with a full suite of due diligence and administrative support in a secure digital environment. Asset managers and banks leverage iCapital's tech-enabled services to streamline and scale their private investments operational infrastructure. iCapital was recognized in the 2018 and 2019 Forbes FinTech 50 which highlights the top 50 innovative financial technology companies that are transforming finance through technology. As of March 31, 2019, iCapital services approximately $40 billion in invested capital across more than 100,000 underlying accounts.
For additional information, please visit the Company's website at www.icapitalnetwork.com | LinkedIn: https://www.linkedin.com/company/icapital-network-inc | Twitter: @icapitalnetwork | Facebook: https://www.facebook.com/icapitalnetwork/
Disclosures: This material is provided for informational purposes only and is not intended as, and may not be relied on in any manner as legal, tax or investment advice, a recommendation, or as an offer to sell, a solicitation of an offer to purchase or a recommendation of any interest in any fund or security offered by iCapital. Past performance is not indicative of future results. Alternative investments are complex, speculative investment vehicles and are not suitable for all investors. An investment in an alternative investment entails a high degree of risk and no assurance can be given that any alternative investment fund's investment objectives will be achieved or that investors will receive a return of their capital. The information contained herein is subject to change.
Awards, rankings and/or recognition by unaffiliated rating services and/or publications should not be construed by a client or prospective client as a guarantee that he or she will experience a certain level of results if Institutional Capital Network Inc. ("iCapital") is engaged, nor should it be construed as a current or past endorsement of iCapital by any of its clients.
Securities may be offered through iCapital Securities LLC, a registered broker dealer, member of FINRA and SIPC and subsidiary of Institutional Capital Network, Inc. iCapital is a registered trademark of Institutional Capital Network Inc. All rights reserved.
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