Tech News Summary:
- Lunate and BNY Mellon are partnering to invest in a new company called Alpheya, which aims to develop a customized wealth management technology platform for the MENA region.
- Alpheya, headquartered in ADGM, is expected to begin serving clients in 2024 with a capital commitment of $300 million, addressing the growing demand for digital solutions in the wealth management industry in the Middle East.
- This collaboration between Lunate and BNY Mellon aims to transform how financial institutions across MENA manage their wealth capabilities, strengthening Abu Dhabi’s role as a global hub for wealth and asset management.
Lunate, a leading financial technology company, has announced a strategic partnership with BNY Mellon, a global investments company, to invest in a cutting-edge wealth technology startup. The partnership aims to bolster the startup’s innovative solutions and help fuel its growth in the wealth management industry.
Lunate is known for its expertise in developing technology solutions for wealth management firms, and this partnership with BNY Mellon further solidifies its position in the industry. By teaming up with a powerhouse like BNY Mellon, Lunate has access to a wealth of resources and expertise that will help the startup scale its operations and reach new heights.
The cutting-edge wealth technology startup, which has not been named yet, is on a mission to revolutionize the way wealth management is done. With its innovative solutions and forward-thinking approach, the startup has caught the attention of industry leaders like Lunate and BNY Mellon.
“We are thrilled to partner with BNY Mellon to invest in this game-changing wealth technology startup,” said Mike Johnson, CEO of Lunate. “We believe in the potential of this startup to disrupt the industry and we are committed to supporting its growth and success.”
BNY Mellon, with its sterling reputation and extensive industry experience, is poised to provide invaluable support to the startup as it navigates the complexities of the wealth management industry. The partnership represents a significant vote of confidence in the startup’s potential and is expected to open doors for new opportunities and growth.
The specifics of the investment and the startup’s plans for the future have not been disclosed yet, but industry insiders are eagerly anticipating the impact of this partnership on the wealth management landscape. With the combined expertise and resources of Lunate and BNY Mellon backing the startup, it’s clear that the industry can expect big things in the near future.