{"id":473557,"date":"2021-04-08T08:33:46","date_gmt":"2021-04-08T12:33:46","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=473557"},"modified":"2021-04-08T08:33:46","modified_gmt":"2021-04-08T12:33:46","slug":"envestnet-acquires-harvest-savings-wealth-technologies","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/envestnet-acquires-harvest-savings-wealth-technologies\/","title":{"rendered":"Envestnet Acquires Harvest Savings &amp; Wealth Technologies"},"content":{"rendered":"<div class=\"xn-newslines\">\n<h2 class=\"xn-hedline\">Automated Savings Technology will Help More Banks Empower Consumers to Start to Build Wealth, Kicking Off Their Financial Wellness Journey<\/h2>\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">CHICAGO<\/span>, <span class=\"xn-chron\">April 8, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0Envestnet (NYSE: ENV) announced today it has acquired fintech innovator Harvest Savings &amp; Wealth Technologies, which provides automated goals-based saving tools and wealth solutions to banks, credit unions, trust companies, and other financial institutions.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/339363\/envestnet__inc__logo.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/339363\/envestnet__inc__logo.jpg\" title=\"Envestnet https:\/\/www.envestnet.com\/ (PRNewsfoto\/Envestnet, Inc.)\" alt=\"Envestnet https:\/\/www.envestnet.com\/ (PRNewsfoto\/Envestnet, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>&#8220;We are striving to empower intelligent, connected financial lives, creating a holistic view for investments, banking, or savings account balances. Advisors&#8217; clients expect smart and efficient digital solutions, and automated goals-based savings tools can help them create better financial habits while on the path to financial wellness,&#8221; said <b><span class=\"xn-person\">Stuart DePina<\/span>, President of Envestnet<\/b>. &#8220;With this acquisition, we are one step further in delivering fully on this vision. This acquisition optimizes our API-based financial wellness ecosystem, and also helps strengthen our foothold to enable embedded finance, which we see as a key driver of the future of financial services.&#8221;<\/p>\n<p>\n        <u>Harvest&#8217;s platform unifies a bank&#8217;s retail and wealth offering, and includes capabilities such as:<\/u>\n      <\/p>\n<ul type=\"disc\">\n<li>\n          <b>Automated Micro-Savings: <\/b>Harvest&#8217;s innovative goals-based savings technology solves a major problem facing traditional banks. It enables clients to digitally engage customers looking to save more money, offering them an opportunity to save for anything and everything\u2014from a new sweater to a dream vacation. By typing in a goal name and selecting a corresponding image, end customers can create any goal they wish.<\/p>\n<p>Through the use of algorithms, it automates a customers&#8217; savings, and at the same time allows banks to hold onto their deposits. To date, the most popular goal across Harvest&#8217;s platform is an emergency savings bucket.<\/li>\n<li>\n          <b>Digital Account Opening: <\/b>Harvest&#8217;s account opening tool enables clients and end-investor customers to open accounts seamlessly across savings, wealth, and trust systems. This innovation turns a process typically measured in weeks into one measured in hours. <\/p>\n<p>Harvest&#8217;s streamlined technology automates forms and processes, improving account success rates and compliance. This enhanced offering will be adapted and made available to users throughout Envestnet&#8217;s unified financial wellness platform.<\/li>\n<\/ul>\n<p>&#8220;At Harvest, we believe that every wealth account starts as a savings account,&#8221; said <b><span class=\"xn-person\">Drew Sievers<\/span>, CEO of Harvest Savings &amp; Wealth Technologies<\/b>. &#8220;Like Envestnet, since our founding we have proudly worked to help our clients unify their customers&#8217; financial journeys. We are excited to join Envestnet as they lead the industry toward making a more meaningful impact on the holistic financial wellness of their clients&#8217; customers.&#8221;<\/p>\n<p>Harvest&#8217;s automated micro-saving technology delivers data to the bank or firm, which can then signal when it&#8217;s time to move someone from a savings solution to the right wealth offering, making it an ideal fit for Envestnet&#8217;s holistic, connected financial wellness ecosystem.<\/p>\n<p>&#8220;The right financial advice and investment strategies can make a great difference for one&#8217;s financial future. However, the path to financial wellness begins with saving,&#8221; said <b><span class=\"xn-person\">Dani Fava<\/span>, Head of Strategic Development at Envestnet<\/b>. &#8220;It is no secret that the U.S. has a savings problem, as a recent <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3122753-1&amp;h=1939151841&amp;u=https%3A%2F%2Fwww.bankrate.com%2Fbanking%2Fsavings%2Ffinancial-security-january-2021%2F&amp;a=Bankrate+survey\" rel=\"nofollow noopener noreferrer\">Bankrate survey<\/a> found that fewer than four in 10 Americans had enough savings to cover the cost for even a four-figure car repair bill. Through this acquisition, our technology can now help reverse the tide, while enabling banks and credit unions to evolve and keep pace with the ongoing fintech disruption in the industry as we incubate tomorrow&#8217;s advisory clients.&#8221;<\/p>\n<p>Terms of the deal were not disclosed.<\/p>\n<p>\n        <b>About Envestnet<br \/><\/b>Envestnet, Inc. (NYSE: ENV) is transforming the way financial advice and wellness are delivered. Our mission is to empower advisors and financial service providers with innovative technology, solutions, and intelligence to make financial wellness a reality for everyone. Over 106,000 advisors and more than 5,100 companies including: 17 of the 20 largest U.S. banks, 47 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs and hundreds of FinTech companies, leverage Envestnet technology and services that help drive better outcomes for enterprises, advisors and their clients.<\/p>\n<p>For more information, please visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3122753-1&amp;h=4024467871&amp;u=http%3A%2F%2Fwww.envestnet.com%2F&amp;a=www.envestnet.com\" rel=\"nofollow noopener noreferrer\">www.envestnet.com<\/a>, subscribe to our <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3122753-1&amp;h=2141591212&amp;u=https%3A%2F%2Fenvestnet.blog%2F&amp;a=blog\" rel=\"nofollow noopener noreferrer\">blog<\/a>, and follow us on Twitter (<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3122753-1&amp;h=2582845116&amp;u=https%3A%2F%2Ftwitter.com%2Fenvintel&amp;a=%40ENVintel\" rel=\"nofollow noopener noreferrer\">@ENVintel<\/a>) and <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3122753-1&amp;h=3583677155&amp;u=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fenvestnet&amp;a=LinkedIn\" rel=\"nofollow noopener noreferrer\">LinkedIn<\/a>. <\/p>\n<p>\n        <b>Media Contacts:<\/b>\n      <\/p>\n<p>\n        <span class=\"xn-person\">Dana Taormina<\/span><br \/>\n        <br \/>JConnelly for Envestnet<br \/>973.647.4626<br \/><a target=\"_blank\" href=\"mailto:envestnetpr@jconnelly.com\" rel=\"nofollow noopener noreferrer\">envestnetpr@jconnelly.com<\/a><\/p>\n<p>\n        <span class=\"xn-person\">Jennifer Wu<\/span><br \/>\n        <br \/>Harvest Savings &amp; Wealth Technologies <br \/>628.243.0642<br \/><a target=\"_blank\" href=\"mailto:jennifer.wu@harvestsw.com\" rel=\"nofollow noopener noreferrer\">jennifer.wu@harvestsw.com<\/a><\/p>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY36155&amp;sd=2021-04-08\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/envestnet-acquires-harvest-savings--wealth-technologies-301264881.html\">http:\/\/www.prnewswire.com\/news-releases\/envestnet-acquires-harvest-savings&#8211;wealth-technologies-301264881.html<\/a><\/p>\n<p>SOURCE  Envestnet, Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=NY36155&amp;Transmission_Id=202104080830PR_NEWS_USPR_____NY36155&amp;DateId=20210408\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Automated Savings Technology will Help More Banks Empower Consumers to Start to Build Wealth, Kicking Off Their Financial Wellness Journey PR Newswire CHICAGO, April 8, 2021 \/PRNewswire\/ &#8212;\u00a0Envestnet (NYSE: ENV) announced today it has acquired fintech innovator Harvest Savings &amp; Wealth Technologies, which provides automated goals-based saving tools and wealth solutions to banks, credit unions, trust companies, and other financial institutions. &#8220;We are striving to empower intelligent, connected financial lives, creating a holistic view for investments, banking, or savings account balances. Advisors&#8217; clients expect smart and efficient digital solutions, and automated goals-based savings tools can help them create better financial habits while on the path to financial wellness,&#8221; said Stuart DePina, President of Envestnet. &#8220;With this acquisition, we are one &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/envestnet-acquires-harvest-savings-wealth-technologies\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Envestnet Acquires Harvest Savings &amp; Wealth Technologies&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-473557","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Envestnet Acquires Harvest Savings &amp; Wealth Technologies - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/envestnet-acquires-harvest-savings-wealth-technologies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Envestnet Acquires Harvest Savings &amp; Wealth Technologies - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Automated Savings Technology will Help More Banks Empower Consumers to Start to Build Wealth, Kicking Off Their Financial Wellness Journey PR Newswire CHICAGO, April 8, 2021 \/PRNewswire\/ &#8212;\u00a0Envestnet (NYSE: ENV) announced today it has acquired fintech innovator Harvest Savings &amp; Wealth Technologies, which provides automated goals-based saving tools and wealth solutions to banks, credit unions, trust companies, and other financial institutions. &#8220;We are striving to empower intelligent, connected financial lives, creating a holistic view for investments, banking, or savings account balances. Advisors&#8217; clients expect smart and efficient digital solutions, and automated goals-based savings tools can help them create better financial habits while on the path to financial wellness,&#8221; said Stuart DePina, President of Envestnet. &#8220;With this acquisition, we are one &hellip; Continue reading &quot;Envestnet Acquires Harvest Savings &amp; Wealth Technologies&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/envestnet-acquires-harvest-savings-wealth-technologies\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-08T12:33:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/339363\/envestnet__inc__logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/envestnet-acquires-harvest-savings-wealth-technologies\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/envestnet-acquires-harvest-savings-wealth-technologies\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Envestnet Acquires Harvest Savings &amp; 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Advisors&#8217; clients expect smart and efficient digital solutions, and automated goals-based savings tools can help them create better financial habits while on the path to financial wellness,&#8221; said Stuart DePina, President of Envestnet. &#8220;With this acquisition, we are one &hellip; Continue reading \"Envestnet Acquires Harvest Savings &amp; Wealth Technologies\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/envestnet-acquires-harvest-savings-wealth-technologies\/","og_site_name":"Market Newsdesk","article_published_time":"2021-04-08T12:33:46+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/339363\/envestnet__inc__logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/envestnet-acquires-harvest-savings-wealth-technologies\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/envestnet-acquires-harvest-savings-wealth-technologies\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Envestnet Acquires Harvest Savings &amp; 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