Bricknode, a leading SaaS financial services platform, has announced it would establish a wholly owned subsidiary and apply for a securities brokerage licence. The move will pave the way for Bricknode to carry out brokerage services for customers who lack their own regulatory permissions, and it’s estimated the service could be operational by Q1 2023.
Today’s investment industry is being disrupted by new market entrants that include neobanks and fintech companies targeting product expansion. These firms face challenges in meeting regulatory requirements and taking new solutions to market quickly. Upon being granted a brokerage licence, Bricknode will be able to extend a regulatory umbrella to firms that want to offer investment services in the EU.
Bricknode helps companies offer their own investment products through its core brokerage software and technology platform, Bricknode Broker. The combination of a software platform, brokerage outsourcing and regulatory umbrella offers firms an all-in-one solution for launching new investing services, which is explained in greater detail in this Bricknode blog.
“Investing is a big market right now and firms seeking to capitalise typically face lengthy development projects and regulatory challenges,” says Stefan Willebrand, Founder and CEO, Bricknode. “By applying for a brokerage licence, we’re moving a step closer to being able to offer our own regulatory umbrella to clients and making it even easier for them to launch investment solutions.”
Bricknode already provides brokerage software and technology to several firms that don’t hold their own brokerage licence. It is able to do this via a partnership agreement today, and securing its own licence will enable Bricknode to offer even greater flexibility and value to its customers.
Asset management in Europe has continued to see growth despite the COVID-19 pandemic, with assets under management (AuM) growing to EUR 28.4 trillion in 2020, according to the EFAMA’s latest report. AuM is projected to grow even further to EUR 31.3 trillion (Q3 2021 est.).
