Schroders opts for instant messaging FinTech as first Cobalt member

Instant messaging platform is first firm to join asset managers in-residence programme.

UK asset manager Schroders has announced Qwil Messenger as the first FinTech firm to join its Cobalt in-residence programme.

Schroders will work with Qwil Messenger and provide direct access to appropriate business divisions within Schroders, desk space, resources and potential investment. The agreement will last for six months with an extension option.

The FinTech provides an instant messaging platform allowing business users to communicate through one application, designed to use elements from social chat apps while adhering to corporate data privacy and protection requirements.

Launched last month, Cobalt targets FinTech companies which have progressed beyond the conceptual or early-growth stage that offer solutions relevant to investment management.

“[Qwil Messenger] provides a secure and reliable platform which meets the growing regulatory demands placed on client communication, particularly with GDPR coming into force in the European Union this month,” said Graham Kellen, chief digital officer at Schroders.