Nucoro’s b2c offering, Exo investing, offers artificial intelligence powered investment technology, enabling users to create a unique portfolio built around their individual goals, risk profile and preferences.
Abrdn, previously Standard Life Aberdeen, says the acquisition will allow it to offer 24/7 digital wealth management via an app. Using Exo investing, clients can choose between a customised, themed or fully automated approach, in which the app creates a tailored portfolio designed around their goals and risk appetite.
Stephen Bird, CEO abrdn comments: “This is an exciting and significant step forward in building out our Personal vector capabilities. Exo was the first of its kind to offer a fully automated wealth management platform, leveraging machine learning to feed into portfolio decision-making. There is a downward pressure on fees, changing customer expectations and increasing regulatory requirements. It’s important to address these issues by providing a highly-scalable, next-generation service to investors.”
The deal with the two-year old London-based fintech is expected to conclude in Q4 2021.
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