Credit Suisse is in talks about the future of InvestLab, its B2B funds platform.
In a statement, the Swiss bank said, “Credit Suisse is in advanced discussions regarding strategic alternatives to support the further development of Credit Suisse InvestLab, although no final decision has been made.”
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Financial news website Inside Paradeplatz reported that Credit Suisse would sell InvestLab to wealth tech company Allfunds this week.
InvestLab offers access to over 46,000 investment instruments from more than 170 providers worldwide. Last year the fund platform signed an agreement with Zurich-based fundinfo AG to collect and source centralized data from asset managers.
The news comes after a tumultuous few weeks for fund platforms in the UK. Following the trading suspension on Neil Woodford’s Equity Income Fund, platforms which recommended the fund – and earned fees from it – have come under scrutiny.
The move follows Credit Suisse’s long-running restructuring program, which returned the Swiss bank a profit for the first time since 2014.
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