Fidelity International has signed the Fintech Pledge, a set of standards supported by HM Treasury to promote growth in the UK’s fintech sector.
In becoming a signatory, Fidelity must now adhere to the five principles that will ensure a “productive relationship” with fintech partners.
These include providing clear guidance to technology firms on how the onboarding process works; clarity for tech start-ups on their onboarding progress; putting forward a named contact, guidance and feedback; encouraging good practice and improvement; and providing bi-annual feedback in the first year.
Fidelity is the first asset manager to sign the pledge, joining banking names such as Lloyds, HSBC and Santander, among others.
Alokik Advani, managing partner, Fidelity International Strategic Ventures, said: “Engaging with start-ups is a vital component for our business and allows us to continue to drive forward our efforts to incorporate technological innovations for our clients.
“We will continue to embrace new and exciting technologies and look forward to partnering with yet more start-ups in the future.”
Partnerships that Fidelity already has underway include SteelEye, the compliance technology and data analytics firm.
The asset manager is using SteelEye’s data platform to comply with a range of obligations for both oversight and regulatory purposes.
Fidelity has also partnered with digital investment platform, Moonfare, to allow its institutional and wholesale clients access private market funds.
The partnership addresses an increasing demand from investors aiming to achieve attractive returns by adding alternative investment strategies to their portfolios, Fidelity said.
