Robo-adviser Munnypot has launched with the backing of SEI and Dutch automated advice firm Ortec Finance.
Munnypot is a WhatsApp style ‘chat-based' platform that aims to help consumers manage their savings digitally at a lower rate than traditional advice.
The service is backed by investment manager SEI, front-end solution provider Virtual Affairs, financial planning tech firm Ortec Finance, and Five Degrees, a customer relationship and process management business.
At present the platform is fully operational, with plans to bring new users in slowly in order to avoid an influx and be able to fix any early development problems, it said. The organisation plans to increase its marketing activity in early 2017.
Munnypot co-founder Simon Redgrave said: "The company we're keeping says a lot about the huge ambition of Munnypot - we're planning on shaking up the market and have partnered with some state-of-the-art organisations to help us do that.
"The initial response we've had from consumers has been overwhelmingly positive and we're looking forward to quickly building our customer base in 2017."
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