Robo-advisory is unstoppable

Robo-advisory is unstoppable

The Spanish BBVA bank has been well known in the banking sector for a long time as a digital savvy player. As the most recent proof of that reputation, they announced a partnership with FutureAdvisor on Tuesday, 12 January 2016, where the bank will soon introduce its own automated investment advice software and their clients can start investment management based on advice provided by a robot.

With this action the bank clearly demonstrates its readiness for the battle with algorithms based modern investment software products for acquiring new customers as well as winning back their former customers. In order to meet customer demand, the bank will enable several rich features such as market movement based auto-rebalancing or tax loss harvesting.

Partnerships like the one of BBVA increase with the size of demand for digital technologies, so after a year or two a Wealth Management company that does not offer digital investment opportunities is likely to disappear just like dinosaurs did .

Read more: BBVA compass becomes first major bank to partner with fintech firm FutureAdvisor.