UOB launches robo-advisor mobile app

Tuesday 4 August 2020 11:16 CET | News

United Overseas Bank (UOB) has launched UOBAM Invest, a robo-advisory mobile app that offers retail investors in Singapore personalised investment portfolios.

The mobile app is the retail version of the UOBAM Invest online portal, which was launched in 2018 for corporate investors in Singapore. Retail investors can start investing using UOBAM Invest from SNG1 and there are no account opening or closing fees, according to Hubbis. The advisory fee is 0.8 % per annum for investment amounts of USD 18.100 and below, and 0.6 % per annum for investment amounts above USD 18.100.

The Digital Advisor feature is a portfolio planner that enables retail investors to invest in personalised investment portfolios generated based on their risk profile and aggregate financial goals. Therefore, retail investors can tune the investment portfolios by changing their goals, contributions, duration, and risk tolerance level. They will also be able to see the success probability of achieving their desired returns.

The new service is integrated with MyInfo and PayNow which enables account opening and payment.

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Keywords: UOB, robo-advisor, Singapore, United Overseas Bank, banks, UOBAM Invest, mobile app, retail, online, SNG1, Digital Advisor, myInfo, PayNow, payments
Categories: Banking & Fintech
Countries: Singapore
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Banking & Fintech

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