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How Eko is Bringing Digital Investing to US Banks and Credit Unions

Blog post from Alpaca

Post Details
Company
Date Published
Author
Megha Bhattacharya
Word Count
1,882
Language
English
Hacker News Points
-
Summary

Eko, founded by Mart Vos in 2020, is a financial services company aimed at democratizing investment opportunities by allowing banks and credit unions to integrate low-threshold investment services directly into their digital platforms. The company provides a white-label solution that enables financial institutions to offer investment services starting at just $1, enhancing accessibility and fostering customer loyalty. By partnering with Alpaca, a leader in brokerage infrastructure APIs, Eko empowers banks to provide a range of investment options, including self-directed investing and IRAs, while maintaining compliance and reducing operational costs. This collaboration allows traditional financial institutions to compete with fintech companies and retain client assets by offering modern investment solutions within their existing digital banking environments. Eko plans to expand its partnerships to 50 institutions by year-end and aims to introduce additional services such as high-interest savings accounts and business accounts, furthering its mission to make investing simple and inclusive.