The world most innovative providers of technology solutions for the global investment industry were named yesterday on the inaugural WealthTech 100 list.

WealthTech is one of the fastest growing sectors within the FinTech industry, with FinTech Global data showing investment in the space has grown five-fold since 2014 to reach $4.6bn last year. That surge in activity comes as financial services firms and investors realise the huge impact new digital models are having on the industry, with incumbent institutions grappling with rapid innovation and digital transformation challenges. Given the huge rise in appetite for the sector, The WealthTech 100 was produced to identify the 100 innovative companies that every leader in the wealth and asset management industries needs to know about in 2019.

The standout companies were chosen by a panel of industry experts and analysts who reviewed a study of over 1,000 WealthTech companies undertaken by FinTech Global, a data and research firm. The solution providers making the final list were recognized for their innovative use of technology to solve a significant industry problem, or to generate cost savings or efficiency improvements across the investment value chain.

Founder and CEO Andrew Ward, excited by the inclusion of Selfwealth had a few words to add to the achievement, For Selfwealth to be recognised globally in the wealth tech space is a nod to the hard work the company has done in the years since its inception. That this has been coupled with positive company results of late reaffirms the company is on the right path to achieving its goal: being the go-to platform for share trading in Australia and unlocking investment knowledge for the self-directed investor, which was otherwise held by a small few. We've also won this award before launching an extremely innovating, world-first ETF."

Over 80% of the WealthTech 100 companies are located in Europe or the United States, demonstrating that the initial wave of innovation in the sector is being led by companies in established financial services centres.

The US, UK and Switzerland lead the way with 29, 22 and 11 companies on the list, respectively. Other countries, large and small, are also beginning to make their mark in the industry, with Australia, Germany, India, Israel, Singapore and Canada all represented.

FinTech Global director Richard Sachar said, "With the rise of mobile and digital distribution channels, new business models and personal finance consumer propositions, the wealth management industry is undergoing huge change.

"The WealthTech 100 companies offer innovative solutions that enhance functions across the entire investment value chain, including client acquisition, portfolio management, investment planning and risk management."

A full list of the WealthTech 100 can be found at www.WealthTech100.com.