Revolut, a
London-based neobank, has expanded its suite of products and services by
introducing a robo-advisor to its super app for users in the United States. The
advisor helps users to automate their investment portfolios, thereby “removing
the friction from investing,” Revolut said in a blog post published
today (Thursday).
Robo-advisors
are algorithms and computer programmes deployed to provide automated, low-cost
and personalized investment advice and portfolio management. These digital
platforms have continued to disrupt the investment
management industry, changing how individuals and institutions approach investing.
In its
announcement, Revolut noted that its robo-advisor offers users personalized
investment portfolio management for a fee lower than what traditional finance
companies offer. In particular, the offering comes with an annual fee of 0.25%
and a monthly minimum of $0.25.
The fintech
company explained that the robo-advisor works by investing customers’ funds in
one of five diversified portfolios based on their risk tolerance determined
through responses gathered from them since onboarding. The software programme then
automatically continues to monitor and manage the customer portfolio based on
the risk tolerance which is rebalanced every month.
“We know
that many of our customers do not have the time to manage a portfolio or invest
in individual securities,” Jack Callahan, the Head of Wealth and
Trading at Revolut US, said in the blog post. “Built to make investing more accessible, we
want to give our customers the ability to make their money work for them in
what we believe will be a tailored and stress-free way.”
Revolut and Fintech Industry
Revolut’s
launch of a robo-advisor occurred as the challenger bank is expanding geographically, recently launching in Brazil. The fintech firm recently
added joint accounts and group chat to its mobile application. It also floated a crypto
staking service for its customers in the UK and the European Economic Area, Finance Magnates reported.
However,
despite recently surpassing 30 million
users,
Revolut is suffering valuation hits. This situation has gradually decayed due to a global shrinkage in fintech funding.
AvaTrade’s veteran joins GKFX; Nasdaq welcomes 60 IPOs; read today’s news nuggets.
Revolut, a
London-based neobank, has expanded its suite of products and services by
introducing a robo-advisor to its super app for users in the United States. The
advisor helps users to automate their investment portfolios, thereby “removing
the friction from investing,” Revolut said in a blog post published
today (Thursday).
Robo-advisors
are algorithms and computer programmes deployed to provide automated, low-cost
and personalized investment advice and portfolio management. These digital
platforms have continued to disrupt the investment
management industry, changing how individuals and institutions approach investing.
In its
announcement, Revolut noted that its robo-advisor offers users personalized
investment portfolio management for a fee lower than what traditional finance
companies offer. In particular, the offering comes with an annual fee of 0.25%
and a monthly minimum of $0.25.
The fintech
company explained that the robo-advisor works by investing customers’ funds in
one of five diversified portfolios based on their risk tolerance determined
through responses gathered from them since onboarding. The software programme then
automatically continues to monitor and manage the customer portfolio based on
the risk tolerance which is rebalanced every month.
“We know
that many of our customers do not have the time to manage a portfolio or invest
in individual securities,” Jack Callahan, the Head of Wealth and
Trading at Revolut US, said in the blog post. “Built to make investing more accessible, we
want to give our customers the ability to make their money work for them in
what we believe will be a tailored and stress-free way.”
Revolut and Fintech Industry
Revolut’s
launch of a robo-advisor occurred as the challenger bank is expanding geographically, recently launching in Brazil. The fintech firm recently
added joint accounts and group chat to its mobile application. It also floated a crypto
staking service for its customers in the UK and the European Economic Area, Finance Magnates reported.
However,
despite recently surpassing 30 million
users,
Revolut is suffering valuation hits. This situation has gradually decayed due to a global shrinkage in fintech funding.
AvaTrade’s veteran joins GKFX; Nasdaq welcomes 60 IPOs; read today’s news nuggets.
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- Source: https://www.financemagnates.com//fintech/revolut-expands-super-app-with-robo-advisor-launch-in-us/
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