Sycamore Expands Asset Management Services Following SEC License Approval

Sycamore has secured an SEC license in Nigeria, enabling it to operate as a fund and portfolio manager. The firm aims to support investors in navigating an uncertain economic landscape through innovative technology and expert leadership. Key features of its service include a newly upgraded mobile app and a Multi-Currency Wallet for diversified investments.

Sycamore, a Nigerian fintech company, has obtained a license from the Securities and Exchange Commission (SEC) in Nigeria, allowing it to operate as a fund and portfolio manager. This license empowers Sycamore to provide security and performance to investors as they navigate the complexities of Africa’s financial markets. Babatunde Akin-Moses, CEO of Sycamore Group, remarked, “Securing our SEC licence represents the culmination of years of building institutional-grade compliance systems that protect investor interests.”

To spearhead its asset management division, Sycamore appointed Oluwagbenga Magbagbeola, who boasts 17 years of capital markets experience, including his tenure as the Managing Director at ARM Securities. Magbagbeola successfully developed investment strategies that outperformed market benchmarks during Nigeria’s challenging economic climate, characterized by currency volatility and inflation. He stated, “Joining Sycamore allows me to bridge traditional capital markets expertise with fintech innovation at precisely the right time.”

Moreover, Sycamore has enhanced its mobile application, facilitating clients in managing their investments more effectively. The updated app features an intuitive dashboard that provides investors with access to institutional-grade portfolio analytics, enabling them to monitor performance, risk exposure, and potential growth opportunities.

A significant addition is the Multi-Currency Wallet, allowing clients to diversify their investments across multiple currencies, including USD, EUR, GBP, and NGN. This feature, bolstered by Sycamore’s SEC license, creates a compliant investment channel for managing currency exposure. Mayowa Adeosun, co-founder and COO at Sycamore, noted, “Our proprietary investment platform represents years of innovation in applying financial technology to local market conditions.” The platform leverages artificial intelligence and machine learning to analyze market trends and optimize portfolio allocations, allowing for tailored investment strategies that respond to Nigeria’s evolving market conditions.

In summary, Sycamore’s acquisition of an SEC license signifies a pivotal advancement in its operations as it embarks on offering asset management services in Nigeria. By appointing seasoned professionals and enhancing technological capabilities, Sycamore aims to address the investment diversification needs of Nigerians amidst economic uncertainty. Its innovative solutions, such as the Multi-Currency Wallet, showcase its commitment to providing secure and strategic investment opportunities.

Original Source: thefintechtimes.com