NatWest launches software robots to help consumers make investments

NatWest is to help its customers achieve their financial goals by launching an automated investment advice service.

NatWest Invest is an online platform that enables the bank’s customers to receive advice and keep track of their investments, with the service being available to customers that have a minimum of £500 to invest.

Demand

NatWest’s decision to offer an automated investment advice platform comes after the bank’s owner, Royal Bank of Scotland (RBS), announced that the bank would be scaling back on its face-to-face advisors as a result of an increase in demand for digital banking technology.

Through the new service, NatWest’s customers will have access to a selection of funding choices and will be able to receive automated advice on their investment goals, such as how much they should invest, which funds are suited to their needs, and how they can use their ISA allowance.

The platform will also offer a 24-hour tracking service, which will enable customers to track their investments. The automated advice feature is available at a charge of £10, and a personalised report will be provided for customers who decide to invest.

Changing

According to NatWest Managing Director of Premier Banking Phil Northey, the expectations of customers are changing and more people are choosing to use digital banking.

He stated that NatWest has responded by launching an online investment advice service, which will help the bank’s customers get on in their lives and achieve their financial goals

Sources: http://www.computerweekly.com/news/450430363/NatWest-software-robots-to-advise-customers-on-investments

http://www.bankingtech.com/1073842/rbs-unleashes-robo-advice-service-via-natwest-brand/