Wise Alpha has been named as the ‘Best Investment Provider’ at the British Bank Awards, on a night which celebrated the growing influence of disruptive fintech on the sector.
They fought off stiff competition from online investment platforms MoneyFarm and Wealthify.
The platform offers individual investors a chance to invest in the corporate loans of some of the UK’s best-known companies. Previously, these would have only been open to financial institutions, such as large banks or pension funds, but Wise Alpha’s platform has opened it up to everyone.
Until now, this sector had remained relatively untouched by fintech, but WiseAlpha’s move promises to dramatically increase the available audience. They describe themselves as ‘liberating this multi-trillion market for the masses’ and allow individual investors to start trading in various types of investments including: Senior secured bonds, senior secured loans, and high yield unsecured bonds. Their site promises eye-catching returns of 8%.
“We launched WiseAlpha in 2016 with the aim of offering everyday investors what we believe to be some of the most exciting investment opportunities – opportunities which had hitherto been the preserve of the financial elite,” Rezaah Ahmad, CEO of WiseAlpha. “It is hugely gratifying to have won this award, particularly when set against the strong competition, and given we launched just two years ago. It demonstrates that our customers truly value our proposition and believe in our mantra of a fairer investment world.”
Now in its fifth year, the British Bank awards were started by SmartMoney and showcase the hottest innovations within the industry. They are a chance for customers to vote on the best and most innovative solutions on the market.
Figures released by SmartMoney show fintech is surging. Mobile apps, they say, are now the UK’s most preferred banking channel alongside online banking. New providers are appearing all the time offering an array of attractive solutions, and some are better than others. These awards point customers in the direction of those players which are truly delivering genuine and positive innovation.
For a full breakdown of the 2019 winners see here.
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Tom Cropper is a financial journalist with work which has appeared in titles such as the Guardian, Euromoney and many others.