Revolut Grows Its Super App As It Integrates The Robo Advisor Tool

Revolut, a neobank based in London, is increased the suite of products and services that it supports. The neobank has announced the release of a robo-advisor that will be integrated into its super app. The app will be available to users based in the United States.

Revolut expands its super app with a robo-advisor

The robo-advisor launched by Revolut will allow users to automate their investment portfolios. As such, the platform will get rid of the friction that comes with investing. A blog post on the matter said that the tool will be available to users based in the United States.

The robo-advisor tool that Revolut plans to use will include algorithms and computer programs that will be used to offer automated, personalized, and low-cost investment advice and portfolio management.

Innovative digital platforms such as robo-advisors have significantly disrupted how individuals and institutions view investing. These tools are largely being used across the investment management industry to manage portfolios and improve user experiences.

Revolut said that the robo-advisor platform would allow users to access personalized investment portfolio management at a lower fee than traditional financial companies offer. The offering in question also imposes an annual fee of 0.25%, while the monthly minimum stands at 0.25%.

Revolut has also said that the robo-advisor tool works through investing customer funds. The funds are invested in one of the five diversified portfolios depending on the level of risk tolerance. The level of risk is determined by the responses gathered from these customers since the onboarding process started.

The software program will also continue to monitor and manage the portfolio of customers depending on the level of risk tolerance that is rebalanced each month. The platform will also make investments more accessible while allowing customers to make money customized and easily.

The Head of Wealth and Trading at Revolut US, Jack Callahan, said, “We know that many of our customers do not have the time to manage a portfolio or invest in individual securities. Built to make investing more accessible, we want to give our customers the ability to make their money work for them in what we believe will be a tailored and stress-free way.”

Revolut expands its presence across the fintech sector

The recent release of the robo-advisor tool comes at a time when Revolut has been expanding its presence globally. The fintech recently announced that it had relaunched its services in Brazil.

Revolut has also increased the offerings available on the mobile application. It recently unveiled joint accounts and group chats to the mobile application. It also released a crypto staking program for customers based in the European Economic Area and the United Kingdom.

The Revolut fintech platform recently surpassed 30 million users, but it has recently suffered a blow in terms of valuation. The declining valuation of the company has been attributed to a plunge in fintech funding levels globally.