German insurance firm Talanx is forming a joint venture with Berlin-based company builder FinLeap to launch a digital platform for independent asset managers and private banks.
Named Elinvar, the startup will offer a white-label platform to provide asset managers with solutions for client onboarding, automatic creation of orders, administration and customer communication.
Talanx and FinLeap will each hold a 37.5% stake in the firm with the other 25% going to the founders and team as part of a long-term commitment to Elinvar.
The Berlin-headquartered company will be fully licensed the after being subject to the approval of Germany’s Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht).
Elinvar expects to start with its first partners in the spring of 2017.
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