UK fintech: Balancing innovation, consumer protection and trust

February brought another direct-to-consumer platform announcing its intention to shut down all UK operations. This time it was the turn of Exo Investing, nine months after Abrdn pulled out of a deal to acquire the firm. Exo was launched in 2018 with £16.5m in backing. Another robo-advice failure, where the shuttering of Exo follows on the heels of Investec, UBS and Moola and others who, in recent years, decided Die Mensch-Maschine isn't for them. A crucial part of the problem with robo-advice is customers have shown they won't trust an automated process with more significant sums. As ...