National Bank and Nest Wealth, a leader in financial investment technology, are proud to announce that they are expanding their partnership. Through its corporate venture capital arm NAventures, National Bank will make an additional strategic minority investment in Nest Wealth. The Bank previously invested in Nest Wealth in 2017. The two companies will also extend the scope of their commercial agreement.
The expanded commercial agreement will allow National Bank to accelerate the development of some of its digital initiatives. It will especially benefit the portfolio managers and independent brokers who do business with National Bank Independent Network (NBIN), as well as retail clients, who will enjoy the improved features rolled out via the National Bank savings experience.
The National Bank savings
experience was developed after the first commercial agreement was
signed in 2017. To date, tens of thousands of clients have opened an
account and used it on their computer or smartphone to set goals and
“National Bank is pleased to be enhancing its partnership with Nest Wealth with an additional minority investment and the expansion of the commercial agreement. We've been successfully collaborating with this talented team for many years now. This has allowed us to give Bank clients more online investment services. Our goal is to offer easy, fast and convenient solutions while promoting the value of financial advisory relationships. This is even more important in the current context,” said Lucie Blanchet, Executive Vice-President – Personal Banking and Client Experience at National Bank.
“The enhanced collaboration between National Bank and Nest Wealth, a leading Canadian fintech, will make it possible to offer a new digital experience, including a cutting-edge platform, to the hundreds of independent firms that do business with NBIN,” said Patrick Primerano, President of National Bank Independent Network (NBIN).
“Nest Wealth is excited to deepen our partnership with the forward-thinking team at National Bank. This is a bold next step in our collaboration to provide the clients they serve with the best digital wealth solutions available. Mutually beneficial partnerships between established financial institutions and agile fintech firms represent the future of our industry and we’re proud to be making this transformative move, together,” said Randy Cass, Founder and CEO of Nest Wealth.