Press "Enter" to skip to content

Envestnet Acquires Harvest Savings & Wealth Technologies For Undisclosed Sum

  • Envestnet Inc (NYSE: ENVhas acquired fintech innovator Harvest Savings & Wealth Technologies. The financial terms of the transaction were not disclosed.
  • Harvest provided automated goals-based saving tools and wealth solutions to banks, credit unions, trust companies, and other financial institutions. Its capabilities included automated micro-savings and digital account opening.
  • Harvest’s automated micro-saving technology delivered data to the bank or firm for the timely movement of the customer from a savings solution to the right wealth offering.
  • This acquisition will improve Envestnet’s API-based financial wellness ecosystem and enable its embedded finance pursuit, stated President Stuart DePina.
  • It will enable banks and credit unions to catch up with the ongoing fintech disruption, commented Envestnet Strategic Development Head Dani Fava.
  • Envestnet held $384.6 million in cash and equivalents as of Dec. 31, 2020.
  • Price action: ENV shares are trading 0.51% higher $74.41 on the last check Thursday.

This post was originally published on this site

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *