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Wahed migrates to WealthKernel’s APIs to support the UK app launch

By Joy Dumasia

August 11, 2021

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WealthKernel, announces that US halal and ethical focused investment firm, Wahed, has migrated its investment offering entirely to WealthKernel’s trusted APIs. This partnership sees WealthKernel providing KYC, trading, portfolio management & rebalancing, custody, and ISA tax wrappers for Wahed’s users in the UK.

Wahed’s customers will also benefit from a more unified experience across its desktop and mobile app – allowing them to quickly onboard and complete KYC checks with simple photo capture and document upload features. Wahed is currently using WealthKernel’s vertically-integrated investment infrastructure to help it deliver simple, affordable and halal investment services to its customers.

Karan Shanmugarajah, CEO of WealthKernel, says: “Having supported Wahed from early on in its journey, it’s incredibly exciting not only to see how their business has grown since then but also that we are now helping them to take their offering to the next level. Wahed is a prime example of the kind of investment business that WealthKernel wants to help empower – as someone bringing accessible financial services to underserved markets, with responsible investing and exceptional customer experience at its core. By using our APIs, Wahed will now be able to affordably and efficiently deliver investment services to its customers via its new app.”

Umer Suleman, UK General Manager of Wahed, says: “Our relationship with WealthKernel over the years has allowed us to bring Wahed’s vision to our customers at a competitive pace. Through working with WealthKernel, Wahed has been able to specifically tailor the services it provides to its customers and bring them an investment product they can have full faith in. With our new app now launched in the UK, we hope to further encourage not only Muslim investors to engage with us, but also those looking to make socially responsible investments.”

Recently, IBS Intelligence reported that US-based Islamic finance FinTech company, Wahed announced it would acquire UK-based Niyah Ltd to create a banking app and ethical financial platform focused on the Muslim community.

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