Red Bank, New Jersey - March 23, 2023 - FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global FinTech market, today announced that Cy, a revolutionary financial advisor assisted robo advisory platform from Cyborg Tech, LLC, WBI’s software affiliate, has been selected for the third year in a row as “Best Robo Advisory Platform” in the annual FinTech Breakthrough Awards program.
Cy is the all-in-one, investor-centered platform that is easy to access anywhere. It provides complete client profiling and benchmarking, a better Rate of Return (ROR) calculator, advanced portfolio optimization, and end-to-end service engagement.
Over the past year, Cy has launched a revolutionary multi-custodial digital onboarding engine that features a RedTail integration. Cy’s digital onboarding engine has a simple user interface that dramatically reduces the amount of information needed to key in, as well as support of all account types (IRAs, joint Accounts, Trust Accounts, etc.) that can be onboarded all at the same time.
Cy utilizes a proprietary portfolio optimization engine that screens a universe of over 30,000 mutual funds, ETFs, UCITs, and SMAs. It analyzes millions of data points to curate a list of passive, active, and alternative managers who have demonstrated strong risk-adjusted returns. Then, Cy runs thousands of simulations to find the maximum mathematical advantage of non-correlation and covariance.
Additionally, streamlined client profiling helps to quickly develop individualized benchmarks for required return and loss tolerance. Advisors create a 360° view of each client’s unique investment needs. Cy captures data for assets, income, benefits, saving and spending patterns, inflation and tax rates, age of death assumption, retirement goals, and more.
“We know that investment perfection is not a reality. What investors truly need is a solution that helps them and their advisors to find the optimum combination of both the ups and the downs in order for them to achieve their financial goals. Advisors need to deliver value to their clients, which can be a challenge in a bull market,” said James Johnson, Managing Director, FinTech Breakthrough. “Cy is a revolutionary portfolio optimization solution that combines advanced mathematics with human advice. The platform’s recently added video function depicts market gains and losses in a way that is simple for clients to understand, providing a foundation to discuss each client’s unique loss tolerance so they don’t bail and fail on their investment plan. Congratulations for the third consecutive year on being ‘Best Robo Advisory Platform!’”
The FinTech Breakthrough Awards is the premier awards program founded to recognize the FinTech innovators, leaders and visionaries from around the world in a range of categories, including Digital Banking, Personal Finance, Lending, Payments, Investments, RegTech, InsurTech and many more. The 2023 FinTech Breakthrough Award program attracted more than 4,000 nominations from across the globe.
“We are focused on helping advisors get straight to the heart of a client’s reality and reframe the advisor-investor relationship. It’s our aim to help investors stay more comfortably invested through both bull and bear market cycles,” said Matt Schreiber, CEO of Cy developer WBI Technologies. “Each client’s individual loss tolerance is based on real concern — losing capital. The foundation of Cy’s process is to help investors identify their loss and return profile and then they are able to optimize their portfolio using highly ranked managers identified by our proprietary selection process. This ultimately works to help them meet their goals - in whatever type of market.”
Additionally, Cy’s Loss Simulator identifies each client’s individual loss tolerance. Cy’s data-driven ROR Calculator is designed to determine a discounted cash flow-based ROR that meets each client’s specific goals and needs.
About FinTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for technology innovation and leadership around the globe, the FinTech Breakthrough Awards program is devoted to honoring excellence in Financial Technologies and Services companies and products. The FinTech Breakthrough Awards provide public recognition for the achievements of FinTech companies and products in categories including Payments, Personal Finance, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and more. For more information visit FinTechBreakthrough.com.
Built by technology firm CyborgTech, WBI’s software affiliate, Cy is a revolutionary robo advisory platform that pairs human advice with machine optimized portfolios for loss and return. The platform also offers streamlined client profiling, loss and return benchmarking, personalized investment proposals, electronic account opening, billing and back-office support. The enterprise grade platform can be white-labeled for broker-dealers, RIAs, asset managers, and other institutions. For more information visit InvestWithCy.com.
WBI is a leading provider of innovative technology solutions for the Wealth Management industry. Founded in 1984, the company is dedicated to helping financial advisors succeed by providing cutting-edge technology that enhances their operations and improves the client experience. For more information, visit WBI's website at wbiinvestments.com.
Dina Schindler, Director of Client Success, WBI