The latest technology news in the wealth management sector from around the world.

Model ML, HSBC Asset Management
London-based financial services AI platform Model ML has received an investment from HSBC Asset Management, made through its flagship Venture Capital (VC) strategy, to support the firm's expansion of its agentic operating system. The investment reflects growing demand for specialist AI platforms designed for financial services. The funding will support Model ML’s growth as the focus of enterprise AI shifts from individual models to the systems required to implement them, the firm said in a statement.

Model ML’s platform is purpose-built for financial services, supporting banks, asset managers and advisory firms with workflows including research, due diligence, financial analysis and client-ready document creation. Its model-agnostic approach routes each task to the AI model best suited to the job, enabling firms to benefit from advances across the AI ecosystem without changing the way teams work, the firm continued. The company has grown rapidly since launching less than two years ago and has raised over $100 million to date.

HSBC Asset Management's flagship VC Strategy is a curated venture capital fund of funds programme, managed within the firm's $81 billion alternatives platform. Alongside investments in leading venture capital funds, it also makes selective co-investments in high-growth, venture-backed companies. “Their backing reflects growing confidence in vertical AI for financial services. Rather than a single model, the differentiator is increasingly the software that can orchestrate multiple models across complex financial workflows. That's exactly what we're building," Chaz Englander, CEO and co-founder of Model ML, said.

“AI and next-generation software are driving a new wave of innovation across the economy. This investment through our flagship VC strategy reflects our focus on backing companies operating at the forefront of these themes,” Patrick Sixsmith, head of venture capital at HSBC Asset Management, added.