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Hands Off: Customers Want Robo Services from their Bank

After years of hesitation, U.S. consumers are now ready to open investment accounts at their bank. The twist: instead of relying on financial advisors and brokers in the branch, they want computers to help guide their investment strategies. Banks also need to be careful that the new offerings don’t cannibalize funds that sit in existing savings and checking accounts. New research from Novantas and robo-advisory firm SigFig shows that 68% of bank customers are very interested or extremely interested in opening a robo-investment product. Of those, a whopping 88% say that they will open an account in the next 12 ...

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