The latest fintech start-up is tracking how you’re investing, and how much you’re spending on investments.
And it wants you to be able to see how much your fees are, as well as the difference between your trading fees and the cost of your investment.
“We want to be the arbiter for what your financial returns are,” CEO Paul Kneibler said in an interview with Fintech Insider.
KneIBler’s new venture, Fidelity’s Fidelity Finance, is using the blockchain technology that powers the crypto currency bitcoin to automate some of the functions of Fidelity Funds, which are based on a fund’s management.
“For instance, we’ve got the ability to see if the price of a cryptocurrency has moved or if it’s been moved, and that allows us to take a snapshot of how much the investment is making,” Kneiberl said.
Kneiblers first started developing his fund, which is based on the popular Fidelity ETFs, in 2016.
Fidelity has been actively promoting blockchain technology since it launched its Blockchain Innovation Initiative, a series of initiatives that have been focused on helping businesses improve their technology and infrastructure to help them increase transparency, and speed adoption of blockchain technology.
Kiebel is the chief technology officer at Fidelity Investments.
He said that he sees Fidelity investing in blockchain technologies because it provides an easy way to make money while helping businesses better manage the data and technology they collect and store.
Kitek said he believes blockchain technology will provide an important tool for financial services providers to use, such as financial advisors and retail stores.
“This will allow us to offer more flexible options to our customers, allowing them to invest in stocks and ETFs,” Kitek explained.
“This will enable them to have the flexibility to make a decision about which stocks to buy, for instance.”
The fund, called Fidelity Focused, is a partnership between Kitech and his business partner, Adam Minkin.
Kitecke said that, because the fund has a relatively small market cap of $2 million, it’s not a huge opportunity.
“Fidelity Fled has a valuation of about $5 million, so this fund is not very attractive to us, but we’ve seen an increase in interest in the platform,” he said.
Kiebel said the fund is already up and running.
“As a Fidelity shareholder, you can see how many different options there are to invest with Fidelity.
There’s more than 200 options in this fund, and if you’re not investing, you’re missing out on a lot of opportunities.”
Fidelity’s interest in blockchain technology goes beyond the FIDX portfolio.
Fidgets, Kitebels biggest investment, is an index fund based on Fidelity products.
The fund currently has $10 billion in assets.
Kjellberg said the company is looking at how Fidelity and other fund companies are integrating blockchain technology into their products.
“There’s a lot more interest than ever before in the technology and the underlying technology that’s being used,” Kjellberger said.
“It’s a very interesting time to be a crypto investor because the underlying tech is incredibly secure, which means there are lots of people working on this technology.”