New York, NY, November 16, 2016 – Innovest Systems, a leading provider of modern-era solutions to banks, trust companies, and other financial institutions, today announced it ranked 259 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. Innovest grew by 282% over a three-year period and has over 250 clients on its wealth management, payments, and execution services platform.
For more than 20 years, Deloitte has celebrated Fast 500 companies who are cutting edge and transforming how we do business today. Overall, 2016 Technology Fast 500™ companies achieved revenue growth ranging from 121 percent to 66,661 percent from 2012 to 2015, with median growth of over 250 percent.
“Innovest is proud to be included in Deloitte’s Technology Fast 500™ for the second year in a row. We attribute the recent growth to consistently adding new features and functions to our core applications such as a data aggregation service that automates the gathering of data from numerous sources. We’ve also recently added new services for our benefit payment clients which include a white labeled payee call center and paying agent services,” added Glenn Schmidt, chief executive officer of Innovest Systems,“Innovest Systems strives to provide feature rich software built intentionally to grow with a business, not hinder it. Combined with our world-class service and support, Innovest clients will leverage the InnoTrust application to continue to grow their customer base and manage their customer’s assets while maximizing operational efficiencies.”
“This year’s Fast 500 winners showcase that when organizations are open to diverse perspectives and insights, they are able to create an environment for their employees and customers to see the possibilities and ingenious solutions that might lie ahead,” added Jim Atwell, national managing partner of the emerging growth company practice, Deloitte & Touche LLP. “Entrepreneurial environments foster change and innovation within businesses, and we look forward to watching these companies continue to drive change across all sectors.”
Innovest Systems ranked #375 on the 2015 Technology Fast 500™, earned a spot among the 20 Most Promising Banking Technology Solution Providers 2016 by CIOReview, and most recently, was included in the top 2000 on the 2016 Inc. 5000 List of America’s fastest-growing private companies.
Innovest is a leading provider of financial technology solutions delivered to forward-thinking trust, wealth management, and retirement professionals. Innovest's solutions empower its clients to acquire new customers, invest assets effectively, manage trust and investment portfolios efficiently, and flexibly report results to customers. Innovest has over $425 billion in assets under administration on its trust and wealth management platform, processes more than 4 million payments annually and provides fulfillment services for more than 10 million documents, including checks, advices, and tax forms each year. Innovest's wholly owned subsidiary, FinTech Securities, executes over 69 million equity shares annually. For more information about Innovest, visit www.innovestsystems.com.
About Deloitte’s 2016 Technology Fast 500™
Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2012 to 2015.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
As used in this document, “Deloitte” means Deloitte LLP and its subsidiaries. Please see http://www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.