New Zealand now has to catch-up with online robo-advice platforms, says fintech start-up
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Fintech start-up Ilumony has welcomed the Financial Markets Authority’s (FMA) green light to fast-track making robo-advice legal, saying the move is a huge step forward for New Zealand.
Rachel Strevens, Ilumony founder & ceo, said: “This decision will allow us to go into a lot more detail with our customers, and provide them with much more valuable and beneficial personalised advice via our online platform.
Strevens said New Zealand is rather advanced when it comes to financial market technology & innovation, however this is one area where we have been left lagging.
Ilumony believes New Zealand now needs to do some catching up with online robo-advice platforms.
“There are many countries that have been allowing this kind of robo-advice for years, however our regulation has held us back, so it’s great to have this positive step forward from the FMA.
“We’ve been expecting and preparing for this decision so we’re perfectly positioned to make the most of these rule changes for our customer,” Strevens said.
Related stories:
FMA grants robo advice
Robo-advice good for Kiwis
Rachel Strevens, Ilumony founder & ceo, said: “This decision will allow us to go into a lot more detail with our customers, and provide them with much more valuable and beneficial personalised advice via our online platform.
Strevens said New Zealand is rather advanced when it comes to financial market technology & innovation, however this is one area where we have been left lagging.
Ilumony believes New Zealand now needs to do some catching up with online robo-advice platforms.
“There are many countries that have been allowing this kind of robo-advice for years, however our regulation has held us back, so it’s great to have this positive step forward from the FMA.
“We’ve been expecting and preparing for this decision so we’re perfectly positioned to make the most of these rule changes for our customer,” Strevens said.
Related stories:
FMA grants robo advice
Robo-advice good for Kiwis
