Fintech
Egypt-based EFG Hermes acquires a minority stake in Danish fintech Kenzi Wealth
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EFG Hermesa MENA investment bank that is part of EFG Holdinghas acquired a minority stake in the Danish digital asset manager Kenzi wealth.
EFG Hermes and Kenzi Wealth have also signed a memorandum of understanding that will allow EFG Hermes to use Kenzi Wealth’s advanced AI-based asset management and investment risk analytics technologies to help investors build and rebalance own wallets.
“This significant move marks EFG Hermes’ foray into the realm of personalized investment instruments using cutting-edge technologies, thereby broadening our portfolio of products and services,” says Ahmed Waly, global head of brokerage at EFG Hermes. “Bringing our acclaimed research capabilities with Kenzi Wealth’s cutting-edge, AI-powered digital investment tools is part of our shared vision to introduce a truly complete and unprecedented end-to-end investment experience that sets a new standard in the industry.”
Source: EFG Hermes
The new venture will also allow EFG Hermes to introduce advanced technologies its cutting-edge trading platform, EFG Hermes ONE. In the near future, EFG Hermes ONE offering will be an end-to-end investment experience, from research and trading to portfolio management on a single platform.