Marstone, a digital wealth technology firm, has collaborated with Grupo Bancolombia (CIB), one of the largest banks in Colombia, to offer its digital investment platform to Bancolombia Capital’s Latin American customers.
The collaboration also involves working with BlackRock, a multinational investment firm, to provide access to select UCITS strategies for Bancolombia Capital clients. Marstone’s platform is now multilingual, supporting Spanish-speaking clients and enabling them to open US-based accounts and invest digitally.
The partnership aims to streamline the customer experience and provide seamless access to investment opportunities.
Through Bancolombia’s Miami-based broker dealer, customers can open digital accounts, which will be invested in model portfolios featuring BlackRock’s UCITS funds. This arrangement offers Latin American customers more favourable tax treatments compared to traditional US-traded ETFs.
By leveraging Marstone’s digital accessibility, customers can open international accounts online, eliminating the challenges and delays associated with manual paperwork. This enables a smoother and more efficient investment process for Latin American investors.
Marstone co-founder and CEO Margaret Hartigan said: “We’re committed to financial inclusivity and part of that work means ensuring our platform meets the needs of international clients seeking to diversify their portfolios and exposure to new assets. Our latest partnership with Bancolombia marks the expansion of Marstone’s digital wealth solutions to Latin American customers.
“Marstone’s platform enables Latin American customers to seamlessly open accounts digitally. We’re excited to ease the adoption of digital wealth management and the valuable strategies we unlock including BlackRock’s UCITS funds.”
With nearly 30,000 employees and a presence in multiple countries, including Colombia, Panamá, Guatemala, and El Salvador, Bancolombia is well-positioned to serve its customers’ diverse needs.
The collaboration with Marstone and BlackRock enhances Bancolombia Capital’s offering, providing its clients with innovative digital investment solutions and expanded investment opportunities.
This partnership marks a significant step towards digital transformation in the Latin American financial sector, empowering investors to diversify their portfolios and access global investment options. The multilingual capabilities and user-friendly interface of Marstone’s platform ensure a seamless and inclusive experience for Bancolombia Capital clients.
