The way people get around is going to change, with more people deciding that they don’t want the hassle of owning a car – they just want to hire one from time to time.
This seems to be the prevailing view among established automakers such as Daimler, parent company of Mercedes-Benz, as well as new entrants to the motoring market, such as the smartphone apps which enable users to hail cabs and so on.
China-based investment expert Edward Tse, CEO of Gao Feng, says financial technology companies are thriving in China
With the Chinese government keen to encourage innovation the fintech revolution is quickly gaining pace. Financial technologies companies backed by Chinese venture capital raised $2.4 billion in the first quarter of 2016, according to accounting firm KPMG.
This represented a 49 per cent share of global fintech investment in the period, bigger than that of North America and Europe combined.
Bank of America plans to provide customers with a chatty “virtual assistant” named Erica that will use artificial intelligence to make suggestions over mobile phones for improving their financial affairs.
Michelle Moore, head of digital banking for Bank of America, said in an interview on Monday that Erica will be smarter than a robot because she will bring up topics on her own, using predictive analytics as opposed to only answering questions customers ask.
A financial services company called Ladenburg Thalmann has launched a robo-adviser called $ymbil, apparently aimed at small investors.
The company describes it as a self-service investment platform that matches clients of Ladenburg affiliated advisors to a diversified portfolio consistent with their personal risk tolerance. Requiring a minimum investment of $500, $ymbil allows clients to fund their accounts and start investing in minutes.
“With $ymbil, we are helping advisors address the growing demand for wealth management services that harness the combined benefits of automation and human insight,” said Adam Malamed, Ladenburg’s chief operating officer. “$ymbil appeals to financial advisors and investors looking to maximize the benefits of technology with automated client registration, account administration, reporting and operational efficiencies.” Continue reading Robo-advisor platform aimed at small investors launched