DriveWealth & IOL launch digital private banking in Uruguay

DriveWealth has partnered with IOL Group to launch IOL Privé, a service for affluent investors in Uruguay.

The offering gives IOL Group a digital private banking and wealth management service with access to international investments and fully disclosed US investment accounts. It is designed for high-net-worth clients seeking global market access, advisory support and wealth planning through a single app.

The launch builds on IOL Group's business, which has operated for more than 25 years and serves more than 2 million customers across the region. The new service broadens its offering for wealthier clients seeking international diversification and a more integrated way to manage investments.

DriveWealth provides the brokerage infrastructure behind the product. The company supplies investing and trading systems to financial institutions, digital wallets, broker-dealers, asset managers and consumer brands through application programming interfaces.

Regional push

The partnership also expands DriveWealth's footprint in Latin America, where financial firms are seeking ways to offer wealth management services without building the underlying brokerage systems themselves. Affluent investors have often faced fragmented services, multiple providers and slow onboarding when trying to access private banking and international investment products.

That has encouraged firms to combine advice, trading and account access into a single digital service. IOL Privé brings together dedicated advisory services and access to international investment opportunities to simplify the client journey.

Naureen Hassan outlined DriveWealth's view of the market shift.

"Private banking has historically been reserved for a very select group of investors willing to navigate complex onboarding processes and disconnected technology channels," said Naureen Hassan, Chief Executive Officer of DriveWealth.

"Through our partnership with IOL Privé, we're helping modernize private banking by providing the infrastructure to deliver seamless investment experiences on a digital platform clients already know and trust. Our missions are closely aligned in expanding access to investors on a global scale while creating a more white-glove experience for high-net-worth individuals," Hassan said.

IOL expansion

For IOL Group, the launch marks an expansion beyond its long-established base in Argentina into a broader regional proposition for affluent investors. The platform is intended to support clients who want advisory, investment and wealth planning services in one place rather than through separate providers.

Diego Pizzulli described the launch as part of the group's wider regional growth.

"Launching this project marks a major milestone for IOL Group. We started in Argentina more than 25 years ago, and now we are expanding our presence across the region with a real solution for our investors," said Diego Pizzulli, Chief Executive Officer of IOL invertironline.

"The new platform will offer, through a dedicated app, advisory, investment and wealth planning services, delivering a seamless and professional experience," Pizzulli said.

IOL Privé operates as the international platform of IOL Agente de Valores in Uruguay. The service targets clients seeking a more sophisticated approach to managing global investments, combining digital access with a level of advisory support more commonly associated with traditional private banking.

The move reflects a broader shift in wealth management as providers bring international investing tools, advice, and administration into digital channels for wealthier clients who expect easier account opening and ongoing portfolio access.