Online and mobile banking software provider Access Softek has launched a new Robo-advisory tool called EasyVest to bring growth opportunities to financial institutions.
EasyVest offers automated personal investment advisory services and can integrate with any bank or credit union’s online and mobile banking platform using APIs.
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Access Softek claims that this automation enables institutions to tap into the $73 trillion investment market and provide wealth-building services.
The company reported that only 2% of individuals turn to their bank’s wealth management programmes.
The solution not only serves the investment needs of other 98% of individuals but also complements existing wealth management programmes as well.
Access Softek founder and CEO Chris Doner said: “Robo-advisors especially appeal to the generations receiving the wealth transfer.
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By GlobalData“Financial institutions that provide the technology recipients want will benefit from the transfer.”
Consumers mainly invest in individual or retirement accounts, purchase fractional shares and rebalance their portfolio automatically.
EasyVest evaluates the timeframe, risk appetite, income and investment goals of a consumer to advise the right portfolio for them.
It offers a suite of low-cost, broad index ETF portfolios and provides the ability to set up recurring transfers.
EasyVest Robo-advisor solution provides banks with a low-cost tool and delivers a new way to attract and retain consumers, thus opening a new revenue stream.
