Bolsas y Mercados Españoles (BME), and the Bolsa Nacional de Valores de Costa Rica (BNV) have signed an agreement for the distribution of the Spanish exchange operator’s wealth management fintech platform in Costa Rica.
The Openworkplace platform, which belongs to BME’s fintech subsidiary OpenFinance, is designed to support activities associated with the advice and management of investments of high, medium and low net worth clients for firms in the Costa Rican market.
Its modular and multiplatform tools support compliance with the regulatory frameworks of each country, specifically the European Mifid directive. Already more than 75 financial institutions with presence in seven countries rely on its technology.
José Rafael Brenes, General Manager of the Bolsa Nacional de Valores, stated that “through this agreement, this innovative and sophisticated OpenFinance technology is made available to market institutions for the implementation of the strategy of each firm, ranging from the management and organisation of the portfolios advised to the integral management of the relationship with the clients, while also dealing with market risk events.”
Alfonso Alcalá, COO of BME Inntech and general manager of OpenFinance added: “This project represents a milestone in the sale of BME technology to financial institutions in other countries, especially in Latin America, where our integral solutions for supporting the management of investments enjoy a high degree of penetration. Our value proposition brings together talent and innovation and the solvency, robustness and neutrality of BME, which make it an excellent bet.”