Rubik: Rubik Financial signs deal to deliver innovative financial software

Rubik Financial (ASX:RFL) has entered into a partnership with wealth management company Yellow Brick Road (ASX:YBR) to provide Rubik's innovative financial advice software. Rubik is a fintech company that delivers banking, financial services, and collections software solutions both in Australia and internationally. As part of the transformation of its wealth division, Yellow Brick Road has taken licence of Rubik's award-winning scaled advice software, Provisio, for its network of franchisee owners. The Provisio platform provides software tools for superannuation, retirement, investments and insurance therefore enabling YBR franchisees to write 80% of advice recommendations in-house. The introduction of Provisio is intended to help boost Yellow Brick branches' margins and improve efficiency by increasing client facing time. Last month, Rubik confirmed Goldfields Money (ASX:GMY) as the first client for its Rubik Model Bank platform. Rubik Model Bank is a digital banking platform specifically tailored for Australian Credit Unions, Mutuals and other Authorised Deposit-Taking Institutions. The platform has localised Swiss-based technology giant Temenos Group AG's (SWX:TEMN) "front-to-back" technology used by over 2,000 financial institutions globally. Incidentally, Rubik recently entered into a $68 million takeover deal by Temenos, where Rubik directors unanimously recommend shareholders to vote in favour of the deal. The company's share price has increased by 72% since the start of 2017, last trading at $0.16.