The latest developments in technology products and investments around the world.

InvestCloud
InvestCloud, the firm which this February merged with Finantix and Tegra118, said yesterday that it had deployed its Wealth Adviser Platform for Mitsubishi UFJ Financial Group, Japan’s largest bank. 

The platform will be used by MUFG employees to support end-to-end wealth management and financial planning.

The deal is an excellent result for InvestCloud, which has been in Japan since 2019.  More recently it has moved to a larger office in Tokyo.

“We’ve made a significant investment in our Japanese presence. This means everything from supporting local regulation to adapting our wealth management platform to the Japanese script and the Japanese calendar. The strength of our local team is being recognised by some of the largest firms in Japan, because the team understands the financial culture and has the right discipline to deliver projects to our Japanese clients,” Christine Ciriani, chief executive of the InvestCloud Private Banking division, said.

Los Angeles-based InvestCloud has more than 20 global offices worldwide including a presence in New York, London, Geneva, Singapore and Sydney.

InvestCloud has completed a recapitalisation which valued it at $1 billion, merging with data provider Finantix and Tegra118, a wealthtech firm. New financial investors were led by Motive Partners with Clearlake Capital Group, LP, as well as InvestCloud client shareholders. Other investors included Citi Ventures and Fiserv.