Amelia flies in the face of other robo-advisers
In the adviser market, ‘robo advice’ has been touted as a low-cost – albeit stripped back – alternative as spiralling costs, compounded by a decline in adviser numbers following RDR, has made the traditional advice process unaffordable for many.
The viability of these online investment management sites, based on algorithms that originally served the traditional advisory community, is being taken seriously by the City watchdog – which launched a joint consultation in the autumn with the Treasury to explore how they can improve access to financial advice.
Now a new form of artificial intelligence has entered the fray, promising to transform front line customer support for mortgage companies while helping them to allay dual pressures of driving costs down in a competitive environment while maintaining high satisfaction levels.
Its name is Amelia.