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Citec Solutions is already part of the FinTech Sandbox program

Citec Solutions has been recognized for its work in the use of AI and advanced analytics and has been one of the startups chosen to be part of the program FinTech Sandbox. Citec uses technology for the generation, analysis and rebalancing of personalized investment portfolios.

At a time when many startups face the common challenge of obtaining data (market and otherwise) due to its high cost, the Fintech Sandbox, a Boston-based global benchmark program that provides data sets, has emerged. to these entities for free with the aim of removing the data access barrier for emerging companies.

Since its launch over seven years ago, the FinTech Sandbox has accepted more than 250 startups in your programof which many have grown their businesses thanks to the support of the program.

In this way, the technology company founded by Fernando Domecq two years ago, Citec Solutions, accesses this innovative program while growing in the sector and collaborating with the other resident companies in the Fintech Sandbox, sharing learning and advances that benefit the global FinTech ecosystem. .

Revolutionizing custom portfolio management

Citec Solutions was born from the need to serve a new generation of investors It demands new experiences. providing a differential value in the wealth management industry helping to serve a new generation of investors who demand lower commissions, more personalized solutions, analytics and real-time digital experiences.

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The main objective of the startup is to provide solutions that cover the entire life cycle of an investment, including the optimization of the “Asset Allocation” strategy, portfolio customization, real-time analysis, risk management and rebalancing optimization taking account the tax impact.

Also, these are easily can be integrated into third-party platforms via application programming interfaces (APIs) which allows to significantly minimize the implementation time and costs of development, data and infrastructure.

The company, which becomes part of the resident startups in the FinTech Sandbox program, has just landed in Spain, although it has been operating in the United States for some time, where it has already woven a network of collaborations with universities such as Miami Dade, the University of Miami , Worcester Polytechnic Institute (WPI) or Wharton, where they use the CITEC investment platform to help the training process of their students in the field of portfolio management and risk analysis, being able to organize competitions inside and outside the university, with the aim of to put theory into practice.

The startup, which has just closed a financing round of 500,000 euros, expects to end the year with a turnover of more than 1 million euros. Likewise, it is already working with several Online Brokers in the United States and Spain.

“We are excited to become part of the Fintech Sandbox together with all the new innovative companies in the sector, with whom we will surely learn and grow hand in hand”explains Fernando Domecq.

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