Revolut has announced the launch of a robo-advisor designed to automate investing for customers across the European Economic Area.

The neobank describes its new product, which requires a minimum starting investment of €100 and has an annual portfolio management fee of 0.75 per cent of portfolio value, charged each month, as being advantageous for those who do not have the time to actively invest, or have limited or no trading experience.

The robo-advisor first creates a customised portfolio for customers based on their inputs to questions which help determine factors such as their risk tolerance and financial aims.

Once a portfolio suitable for customers’ personal circumstances is created and funds have been deposited, the robo-advisor automatically invests in the market, continually monitoring and automatically rebalancing the portfolio based on the performance of its assets as the market moves.

“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 solution,” said Rolandas Juteika, head of wealth and trading (EEA) at Revolut. “We're now actively working to broaden the range of investment opportunities available through our Robo-Advisor, and to integrate even more financial planning tools.”

The robo-advisor follows the the launch of a new app designed to simplify sending money abroad and a digital SIM card to enable customers to "roam like a local" when abroad.

Revolut announced in September 2023 that it would delay filing its 2022 accounts for a second consecutive year in a move unlikely to curry favour with the Financial Conduct Authority as it continues its pursuit of a UK banking licence.

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