OpenMoney launches robo-adviser for first-time buyers
OpenMoney has launched its online mortgage advice service for first-time buyers, a year after its initially planned date.
JPMorgan is buying UK robo-advisor Nutmeg
JPMorgan Chase has announced it has agreed to buy British online investment management platform Nutmeg for an undisclosed sum.
Goldman’s Marcus UK to launch robo-adviser early next year
Known as Marcus UK, Goldman Sachs will launch a robo-advice proposition in the UK on its digital bank Marcus early next year.
Two of Britain’s fastest growing fintechs are going after a huge pot of money: pensions
Fast-growing online investment startups Moneyfarm and Scalable Capital are both planning to launch pension products later this year, hoping that accessing the huge UK retirement market could super-charge their growth. Moneyfarm announced plans to launch a pension product later this year when it announced its full year results on Friday. Those results show that the startup, which launched in Italy in 2012 and the UK last year, currently has £260 million in assets under management. It offers personal investment and ISA products. Paolo Galvani, Moneyfarm’s cofounder and chairman, told Business Insider: “We will launch a UK pension product in the fourth quarter and next year Italy. For the next few […]
Search for 2017 Fintech 100 innovators kicks off
Nominations are now open for the 2017 KPMG & H2 Ventures Fintech 100, the annual list designed to recognize leading fintech innovators. Visit www.fintechinnovators.com by Thursday, 31 August 2017 and nominate your company, or any fintech you think should be considered for the Fintech 100. The Fintech100, available at www.fintechinnovators.com, is compiled by fintech investment firm, H2 Ventures in collaboration with KPMG’s Global Fintech practice. The annual Fintech 100 includes both the leading 50 established fintechs, and the most intriguing 50 “emerging stars.” How to nominate and the judging process: Nominations for the Fintech 100 can be made at www.fintechinnovators.com website by Thursday, 31 August 2017. […]
MortgageGym receives £500K investment from Henry Ritchotte
MortgageGym, a UK-based regulated mortgage robo-adviser, received a personal investment of £500k from Henry Ritchotte. Ritchotte, former Chief Operating Officer and member of the management board of Deutsche Bank AG, was also appointed as an adviser. He has over 24 years’ experience in the investment banking and financial services industries. Since leaving Deutsche earlier this year, Ritchotte has been making early stage investments in financial services firms with a focus on disruptive regulatory- and technology-driven business models. He previously held the role of ‘Head of Digital Bank’ at Deutsche. Ritchotte previously worked as Deutsche’s Chief Digital Officer on projects to digitalise banking services. Other roles at Deutsche included Chief Operating […]
Robo Advice: Better Than No Advice?
The proliferation of Robo-Advisors bringing low priced financial services out into the market has received significant buzz over the past few years. As is customary with all new things, one must ask questions before buying into it. As a Certified Financial Planner, my question is: Does Robo Advice have true value to the average consumer? My answer: A definitive “maybe.” The road to good advice lies in a tangle of issues that can easily sway the answer from a strong “avoid at all costs” to “yes, there’s value there.” According to Wikipedia, “Robo-advisors are a class of financial advisers that provide financial advice or portfolio management online with minimal human […]
RBS plans to roll-out robo-advice
The Royal Bank of Scotland expects to be in a position to make a decision on the roll-out of robo-advice for mortgages by the end of the third quarter of 2017. RBS is currently engaged in a trial of the technology, which could help it to cut costs as it strives to regain profitability amid the ongoing fall-out from the financial crisis. Automation is seen by the Financial Conduct Authority as a means of bridging the ‘advice gap’ – providing assistance for people unable to afford the services of an IFA – but there are fears it could lead to job losses in the sector as human advisers are gradually […]
