Building on its Risk Number offering, Riskalyze is offering a series of eight models based on Sharpe ratios, internal expenses and portfolio Risk Numbers. They're built using funds from Riskalyze's asset management partners.

BNY Mellon's Albridge announced on Thursday that it has redesigned the Albridge Wealth Reporting (AWP) platform to offer a more responsive user experience and extends dashboard access.

The redesign was based on consumer feedback, according to a statement from Albridge. The updated platform features a predictive-type search function, and allows for more customization.

AdvisorEngine announced on Wednesday that it has acquired the assets and intellectual property of Wealthminder, a cloud collaboration and digital prospecting tool for advisors.

External IT, an IT and compliance service provider for financial organizations, has launched a digital hub to aggregate wealth managers' IT systems, apps and data. The hub, called “workplace wealth_,” is designed to work seamlessly with a financial institution's existing devices and platforms, including their CRM, portfolios and custodial platforms. It's built with best-practice cybersecurity features like multi-factor authentication and data encryption, and features security monitoring and other SEC/FINRA-required controls, according to a statement.

Sam Attias, managing director at External IT, said the hub has “productized the concept of traditional IT services for financial firms.”

The hub uses a “a new cloud-delivery mechanism—a software overlay which aggregates technology, apps and workflows, and ensures businesses can remain secure and compliant, while enabling their advisors to work smarter,” Attias said in a statement.

Financial organizations “are big targets for cybercriminals, and this is not going to change any time soon. workplace wealth_ helps financial institutions and professionals secure all their workplaces in order to protect data from hackers,” Justin Kapahi, vice president of solutions and security at External IT, added in the statement. “Our built-in cybersecurity features provide the end-point control and monitoring that advisors need to ensure they keep their infrastructure secure, and remain in compliance with SEC/FINRA protocols, as they grow their businesses.”

The regtech industry is booming, especially for those serving the financial services industry, according to VC research firm CB Insights. Regtech companies have raised $2.3 billion in the last five years, the firm wrote in a February blog post, and “the bulk of startups in this space are focused on compliance in the financial services sector.”

There are eight broad subcategories in the financial regtech space, according to the report.

• Anti-money laundering and Know Your Customer startups
• Blockchain and bitcoin
• Enterprise risk management
• Operations risk management
• Portfolio risk management
• Quantitative analytics
• Reporting
• Tax management
• Trade monitoring