Mako Financial Technologies
Background
Founded in 2018 and headquartered in Montreal, Canada, Mako Financial Technologies specializes in automating wealth management processes through its cloud-based platform. The company's mission is to democratize the digitalization of wealth management by providing firms with automation solutions tailored to their unique workflow processes, thereby reducing costs and enhancing efficiency.
Key Strategic Focus
Mako's strategic focus centers on delivering adaptable automation solutions for wealth management professionals. The platform streamlines client onboarding, renewal, and investment processes, ensuring compliance and improving client experiences. By integrating unique operational processes into a unified experience, Mako enables wealth managers to automate and modernize advisor and investor interactions.
Financials and Funding
As of August 2021, Mako Financial Technologies secured $2 million in seed financing. This funding aims to expand the company's capabilities in digitizing and automating office workflows for wealth management professionals.
Technological Platform and Innovation
Mako's cloud-based platform automates various wealth management workflows, including client onboarding and compliance management. The platform's flexibility allows for customization to meet the specific needs of different firms, facilitating a seamless digital transformation in wealth management.
Leadership Team
- Raphael Bouskila: Founder, Chief Executive Officer, and President.
- Shawn Prodgers: Chief Operating Officer and Chief Financial Officer.
- David Kleiman: Chief Technology Officer and Vice President of Software Engineering.
These leaders bring extensive experience in finance and technology, guiding Mako's strategic direction and technological advancements.
Competitor Profile
Market Insights and Dynamics
The wealth management industry is undergoing significant digital transformation, with increasing demand for automated solutions to enhance efficiency and compliance. Mako operates within this evolving landscape, offering tailored automation solutions to meet the industry's needs.
Competitor Analysis
Mako's competitors include companies like Fasterize, AutoVitals, OnviSource, and SaaS Labs, which offer various automation and SaaS solutions across different industries. However, Mako's specialization in wealth management automation distinguishes it within the market.
Strategic Collaborations and Partnerships
In January 2023, Mako partnered with PortfolioAid to harmonize Know Your Client (KYC) and Know Your Product (KYP) processes, enhancing compliance and client onboarding for wealth managers. Additionally, in November 2021, Mako collaborated with Aviso Wealth to introduce digital onboarding solutions for Canadian advisors and investors, streamlining the client onboarding experience.
Operational Insights
Mako's platform offers a competitive advantage by providing customizable automation solutions that integrate seamlessly with existing workflows. This adaptability allows wealth management firms to modernize their operations without overhauling their current systems, positioning Mako favorably against competitors.
Strategic Opportunities and Future Directions
With the increasing demand for digital solutions in wealth management, Mako is well-positioned to expand its market presence. Future opportunities include enhancing platform capabilities, exploring new partnerships, and extending services to a broader range of financial institutions seeking digital transformation.
Contact Information
- Website: www.makofintech.com
- LinkedIn: Mako Financial Technologies
Mako Financial Technologies continues to innovate in the wealth management sector, providing tailored automation solutions that enhance efficiency and client satisfaction.
