US-based FinTech Automation has announced that registered investment advisor (RIA) Tactive Advisors has licensed the former’s UniFi core banking and WealthTech applications.

Through the licensing, Tactive Advisors expects to leverage FinTech Automation’s applications as the technology infrastructure for the former’s WealthTech platform.

Besides, the collaboration will help the RIA to further develop its technology strategy of a unified wealth management platform to include insurance, banking, and alternative solutions.

It will help the firm to provide its financial advisor partners and their clients with an extensive financial services platform.

The Tactive platform is anticipated to be built on the FinTech Automation infrastructure-as-a-service to help advisors compete in a financial services industry increasingly dominated by larger financial organisations.

Established in 2021, Tactive Advisors aims to even the financial playing field by providing advisors with an integrated complete financial service platform to address their clients’ individual and business requirements.

Tactive Advisors founder and CEO Joe Gissy said: “The Tactive Platform was specifically designed to support advisors through a comprehensive tech stack enabling them to scale their business, and by incorporating FinTech Automation’s Infrastructure-as-a-Service, we will continue to disrupt the current financial advisory space and lead in the new evolution in WealthTech.”

Based in Dallas, Texas, FinTech Automation is a fintech as-a-service and infrastructure as-a-service platform that allows digital transformation for financial institutions.

The platform has the firm’s UniFi 13 micro-service-based applications, UniFi banking, trust, and wealth management core, and AccelerationCloud middleware application.

It also includes ModernRails payments network for card issuance, payments, deposits, and payments gateway, and FamilyWealth our suite of WealthTech applications.

The platform is specially developed for fintechs, banks and financial institutions to provide bank sponsorship, banking as-a-service (BaaS), AdviserTech, and embedded finance.

FinTech Automation founder and CEO David Park said: “Independent financial advisors have always done a good job of offering high-touch service to their clients but have been incapable of offering a combined banking and wealth management solution while maintaining their ability to remain independent.

“With the Tactive platform, it will create a formidable holistic financial services platform their advisors can harness to offer truly unbiased financial solutions to solve client needs.”