Subscribe
|
|
|
|
|
|
|
News

Robinhood acquires Pluto

Tuesday 2 July 2024 13:37 CET | News

US-based trading app Robinhood has announced the acquisition of Pluto, an AI-enabled investment research platform, with the move providing additional features to investors.

Through this strategic acquisition, Robinhood intends to offer investors more optimised and improved solutions that can serve their needs and demands. In addition, officials from Pluto are set to join Robinhood’s team to accelerate product development and support the integration of AI-enabled capabilities across the company’s platform.

Robinhood has announced the acquisition of Pluto, an AI-enabled investment research platform, with the move providing additional features to investors.

According to Robinhood’s officials, Pluto’s knowledge of artificial intelligence merged with a commitment to democratising finance intends to complement their company’s team’s effort to provide AI-powered tools to customers. Pluto aims to work together with Robinhood to develop additional products that increase access to financial solutions such as wealth management and financial planning via AI.

What can Pluto bring to Robinhood’s users?

By acquiring Pluto, Robinhood is set to be able to provide investors with access to:

  • Improved data analysis through Pluto’s capabilities that can process and interpret market information more efficiently by offering large language models (LLMs) with access to real-time personal and global financial data;

  • Customised investment strategies, as the company’s algorithms personalise investment tactics to individual user profiles. The platform can provide tailored recommendations based on factors such as risk tolerance, investment goals, and historical behaviour;

  • Real-time insights and portfolio optimisation, which allow investors to make informed decisions. Through AI-powered analysis, customer portfolios can be improved continuously, delivering improved outcomes and balancing expansion and risk based on individual preferences and needs.

Latest news from Robinhood

Before the current news, more specifically at the beginning of June 2024, Robinhood entered into an agreement to acquire Bitstamp to accelerate Robinhood Crypto’s expansion globally. Through this move, the company was set to introduce its first institutional business, with Bitstamp being trusted by its clients for trade execution, order books, and API connectivity. By utilising the cryptocurrency exchange firm’s solutions, Robinhood was projected to enter the space with active relationships, infrastructure, and products. At that time, Bitstamp held more than 50 active licences and registrations worldwide and was set to provide customers located across the EU, the UK, the US, and Asia to Robinhood.

Source: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: acquisition, artificial intelligence, LLM, financial services, financial data, cryptocurrency
Categories: DeFi & Crypto & Web3
Companies: Pluto, Robinhood
Countries: United States
This article is part of category

DeFi & Crypto & Web3

::: more

Pluto

|

Robinhood

|
Discover all the Company news on Pluto and other articles related to Pluto in The Paypers News, Reports, and insights on the payments and fintech industry:





Industry Events

Free Headlines ::: subscribe now
RSS ::: follow ThePaypers via RSS ::: connect
LinkedIn ::: connect with ThePaypers on LinkedIn ::: connect
Twitter ::: follow ThePaypers on Twitter ::: follow
Facebook ::: like ThePaypers on Facebook ::: like