The ability to dabble in the stock markets was traditionally seen as the preserve of what we might call “grownups,” or professional investors with fat salaries and lots of savings to wager.
It’s a stereotype that DriveWealth is rapidly spinning on its head as it pushes a concept of “embedded finance” that makes portfolio-building through fractional investments attainable for the masses. Not only does the company make trading easy and accessible, but it also uses the method as a tool to educate consumers in matters of financial literacy.
“Embedded finance is the ability to work inside a financial services ecosystem, like digital wallet, and have all of these financial app products available at the flick of a finger,” said DriveWealth CEO Bob Cortright in an interview with Karen Webster. “It’s disrupting the way the markets have operated for a long time, allowing people to invest in a notional way with whatever they happen to have in their pocket.”
DriveWealth facilitates embedded finance through an application programming interface (API)-based infrastructure platform that enables its partners to make global stock markets accessible from any application. The company aims to make stocks and shares as easy to buy as a cup of coffee, and it has set itself the mission of democratizing investment opportunities by giving consumers access to U.S. markets with as little as $1.
“Access to these markets, if you’re outside the U.S., was only really available to the very rich,”...
Read Full Story: https://www.pymnts.com/news/investment-tracker/2021/fractional-stock-purchases-will-be-holy-grail-of-financial-literacy-drivewealth-ceo-says/
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