Perspectives
How Arta unites deep tech and high finance to help safeguard your assets
Perspectives
May 04, 2023
Key Takeaways
Arta employs state of the art password-less multi-factor authentication, including biometrics, to secure member accounts
Arta is cloud native, built on top of the Google Cloud Platform with state of the art security by design
Member assets are securely stored (“custodied”) with BNY | Pershing, one of the most venerated and stable banks in the world
Arta is regulated by the SEC and has a fiduciary responsibility to our members to provide advice that is in our members’ best interests and is unbiased
Passwords are so 1999
Passwords are the weakest link in the security chain, especially for financial products. We are all overrun with passwords so we tend to use simple, easily guessable phrases or reuse the same password across multiple accounts. Additionally, cybercriminals have become adept at exploiting password-related security flaws through techniques such as brute-force attacks, phishing, and social engineering. As a result, passwords not only compromise individual accounts, but can also leave entire systems at risk of unauthorized access, data breaches, and potential financial losses. This problem is not unique to finance – hence, big-tech platforms and security experts are increasingly advocating for alternative authentication methods, like multi-factor authentication and biometrics, to mitigate these risks and enhance overall security.
Arta is password-less from the start - eliminating a huge potential vector for security issues. Arta uses multi-factor authentication, including email, phone number & hardware-based biometrics, to secure your account. Not only is this more secure than typing in passwords, it’s also way more convenient and easy to use.
Arta is password-less from the start - eliminating a huge potential vector for security issues.
Cloud native with state of the art security
Members of the Arta team previously led and built highly secure and trusted products like Gmail, Chromebooks, Google Pay and Google Finance; products that are relied upon by hundreds of millions of people globally. We have applied this experience by designing Arta to be fully cloud native. Arta runs on top of the Google Cloud Platform and all data is encrypted at rest and in transit. In addition, all PII is further encrypted with hardware backed envelope encryption covering different levels of data sensitivity with access tightly controlled, limited and audited.
In partnership with the best in the financial industry
At Arta, we’re bringing the latest in AI & tech to our members, so we wanted to find a partner to bring the best in safety and reliability in finance too. After an extensive selection process, we chose BNY | Pershing. This was an important decision because when you invest through Arta, your assets are “custodied” or stored in dedicated accounts in your name at BNY | Pershing - unlike at many robo-advisors or mutual funds where investors funds are commingled together. In our view, BNY is unmatched in reputation, trust and scale in the global financial industry. BNY is a 230 year old bank that was founded by Alexander Hamilton and is the world’s largest custodian bank (a specialized bank for securities, unlike a regular bank that provides checking and savings accounts) with approximately $42 trillion (yup, you read it right!) under custody and administration. Furthermore, it has been designated a Global Systemically Important Bank (G-SIB) by the Financial Stability Board, the international body that monitors the global financial system. In short, your assets have the same level of financial security and stability as some of the most sophisticated financial investors in the world!
BNY is a 230 year old bank that was founded by Alexander Hamilton and is the world’s largest custodian bank with approximately $42 trillion under custody and administration.
Regulated by the US Government
Arta is a Securities and Exchange Commission (SEC) registered investment adviser primarily governed by the U.S. Investment Advisers Act of 1940. This means that Arta is regulated by the SEC and has a fiduciary responsibility to our members to provide advice that is in our members’ best interests and is unbiased. Arta takes this very seriously and maintains a compliance program that aims to identify, mitigate, and disclose risks and both real and potential conflicts of interest – Arta’s public disclosure documents can be found on the SEC’s website here.
We believe the information presented to be accurate as of the date published and such information may not be updated in the future.