As incumbents increasingly try to digitize their offerings, we'll likely see them partner more with fintechs:
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This is an excerpt from a story delivered exclusively to Business Insider Intelligence Fintech Briefing subscribers. To check to see if you already have access to Business Insider Intelligence through your company, click here. UK-based digital wealth manager Moneyfarm has raised £36 million in a Series C funding round led by Poste Italiane, an Italian postal and financial services firm, that included Allianz, which has been investing in the fintech since 2016, according to a companyAdditionally, Poste Italiane has formed a strategic partnership to integrate Moneyfarm's digital investment advice, human guidance, and fully managed portfolios within its own digital platform.
By teaming up with startup robo advisors, incumbents could have a better chance of offering appropriate services to their customers. This year alone, we saw two incumbents shut down their digital wealth management offerings — ABN discontinued Prosbery in
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