Schroders today announced the first fintech start-up, Qwil Messenger, to join its global in-residence programme, following its launch last month.
Qwil Messenger is a secure instant messaging platform that enables firms and clients across jurisdictions to communicate directly through one app, while also meeting the complex data privacy and protection requirements international businesses face.
The Cobalt programme has been designed to help financial services-focused start-ups collaborate with Schroders to support their development.
Graham Kellen, chief digital officer, Schroders, commented: “The Cobalt programme is already receiving significant interest from a number of cutting-edge fintech firms keen to collaborate with Schroders.
“Schroders is delighted to confirm that Qwil Messenger has become the first to officially join the programme. It provides a secure and reliable platform which meets the growing regulatory demands placed on client communication, particularly with GDPR coming into force in the European Union this month.”
Schroders is specifically targeting fintech companies which have progressed beyond the conceptual or early-growth stage that offer solutions relevant to investment management.
Qwil Messenger will benefit from direct access to appropriate business divisions within Schroders, desk space, resources and potential investment. An agreement, which can be extended, is in place for the next six months.
Peter Reading, chief executive officer and co-founder of Qwil Messenger, said: “We are proud to be selected as the founding Cobalt programme participant. Collaborating with a forward-thinking institution keen to nurture the growth of an industry-wide solution is key to our development and success. Schroders is a great match for us.
“Social chat apps dominate the way we communicate, but are unsuitable for business purposes. Qwil Messenger makes chat safe and compliant when it matters most, between businesses, clients and their partners.
“Our branded platform enables clients in any location to engage seamlessly with all their companies through a secured and trusted communication channel.”