This post is sponsored by Investor Cash Management
- Investor Cash Management (ICM) is working with Delaware State University to help the university promote financial wellness.
- Among ICM’s other partners are BNY Mellon, PIMCO, Visa, Trusted Capital Group/HUB Financial, and the National Education Association.
- Originally headquartered in Chicago, ICM relocated its headquarters and customer service center to Wilmington, Delaware last year.
Delaware-based Investor Cash Management (ICM) is on a mission to help investors of all stripes achieve their financial goals.
“We’re helping individuals build wealth by offering a better financial product that eliminates the fees, confusion and inaccessibility traditionally associated with investing,” said ICM CEO Fred Phillips. “We’re creating a community where everyone has equal access to quality investment funds, including those previously unavailable to many individuals.”
ICM offers an API that links investor accounts directly to both a bank account and a brokerage account. The company’s technology transforms investment products such as mutual funds, ETFs, and shares into digital currencies that users can transact with using a debit card, ATM, P2P transfer, and online bill pay. As a result, investors receive higher returns and immediate access to their bank and brokerage assets.
Among the company’s partners are BNY Mellon, PIMCO, Visa, Trusted Capital Group/HUB Financial, and the National Education Association, and, most recently, Delaware State University (DSU), a Historically Black College or University. DSU is a good fit for ICM because of its focus on teaching financial literacy to its students and alumni. The University has integrated ICM’s financial wellness product into its existing financial literacy program.
“Investor Cash Management is proud to provide the technology that empowers Delaware State University to deliver actionable financial education and reduce persistent, pernicious gender and racial investment gaps,” said Phillips. “Through our mission-driven partnership to democratize investment, DSU’s program provides access to innovative financial services and a foundation to develop products that address important needs of the broader community.”
In another effort to back its mission of supporting underserved investors, ICM recently joined The Chicago Network, an organization of prominent and influential female leaders whose purpose is to empower women to lead. The organization honors Delaware Lieutenant Governor Bethany Hall-Long and Illinois Lieutenant Governor Juliana Stratton for supporting the advancement of women leaders in business, finance and technology.
Launched in Chicago in 2018, ICM relocated its headquarters and customer service center to Wilmington, Delaware last year. The company expects to employ more than 400 people by the end of 2024. Backed by the founders of Morningstar and Ariel Investments, ICM has been listed by Capgemini and UBS as one of the world’s 10 leading fintech companies. Earlier this year, the company was selected for one of 20 inaugural PHL Inno Fire Awards.
Learn more about fintech in Delaware by visiting the Delaware Prosperity Partnership website or by contacting Becky Harrington, DPP’s vice president of Business Development, at bharrington@ChooseDelaware.com.
Photo by Alex Korolkoff on Unsplash