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Wealth management app ikigai readies for launch

Wealth management app ikigai readies for launch

As it gears up for launch, London-based wealth management and banking app ikigai has enlisted the help of regtech platform TruNarrative.

Taking its name from a Japanese concept that means "a reason for being", ikigai is a startup promising to help users "reach personal harmony by closing the gap between your finances and your lifestyle".

Founded by a pair of McKinsey veterans, the firm will look to combine everyday banking and a Visa card with a host of wealth management features backed by a team of experts.

Users will be able to set up a budget and automatically invest at the end of the month based on their spending. They can then stay on-top of both their spending and their investments through a single app.

Ikigai is currently inviting people to apply to join its waitlist ahead of launch, when, rather than taking a percentage fee, it will charge users a flat rate of £20 a month.

In the meantime, it has chosen to use TruNarrative's platform to help with customer onboarding, identity verification, account monitoring, payment screening, transactional risk and ongoing risk monitoring of customers.

Ina Browning, VP, operations, ikigai, says: "We are excited to partner with TruNarrative so our customers can experience a fast and frictionless onboarding process. TruNarrative will help us ensure that our customers’ investments and accounts are safe and protected from financial crime.”

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