TORONTO – The Royal Bank of Canada has unveiled a robot-advisor platform across the country, as demand grows for lower prices, options for digital investment.
The bank launched InvestEase last November on a pilot base in three provinces, but has now officially opened the service for new and existing customers across Canada.
National expansion comes as a competition in the robot-advisory space between the two current banks and the factual startups that are heated.
The Toronto-Dominion Bank recently co-operated with the US-based Hydrogen Company to launch its own "robot-guiding" product, and the Montreal Bank has launched its SmartFolio digital investment platform as early as 2016.
Meanwhile, the Wealthsimple Robotic Advisor now has about 100,000 customers in Canada, the United States and the United States. and manages more than $ 2.5 billion in assets.
RBC InvestEase, senior strategy director Rebecca Pacoc says the platform has been developed to take care of the "growing middle" segment of clients who want investment advice, but do it all on the Internet.