Envestnet Data and Analytics announced plans to enter the SMB market

By Joy Dumasia

Envestnet announced plans to expand into the small to medium-sized business (SMB) market by introducing data and digital solutions that empower SMBs to intelligently connect, grow, protect, and manage the financial wellness of their business all in one place. The solution will be offered by Envestnet to its clients, including advisors, banks and FinTechs, to help their SMB customers better run their businesses by integrating data from across all the applications they use.

This growth is part of Envestnet Data and Analytics’ overall mission to drive financial wellness with data, artificial intelligence and an exceptional user experience while also optimizing/broadening Envestnet’s wealth capabilities and platform for advisors, all of which help bring the Intelligent Financial Life™ to a new market.

Farouk Ferchichi, Global Head of Envestnet Data and Analytics, said: “Entering the SMB space will bring data-powered solutions to a wide range of business owners who have seen their financial needs and goals change drastically over the last two years. Introducing new solutions to the SMB market by actively working with our advisor, bank and FinTech partners will not only deepen Envestnet’s data and technology capabilities in the market but will allow this SMB segment to gain insights and intelligence on their business’ finances.”

As part of Envestnet’s commitment to serving SMB customers, it has recently partnered with upSWOT, a platform connected to 150+ SaaS products used by SMBs. By signing a multi-year agreement with an innovative SMB market player whose technology will help power Envestnet’s SMB solution, Envestnet is committed to becoming a leader in the sector.

Recently, IBS Intelligence reported that Envestnet, Inc. announced that Farouk Ferchichi had been named Global Head of Envestnet Data and Analytics.