CBD becomes the first bank in the Middle East to offer a robo-advisory investment solution.

Commercial Bank of Dubai (CBD) has launched its robo-advisory investment solution titled the “CBD Investr App,” developed in collaboration with Belgium-based wealthtech company InvestSuite. The algorithm-powered app makes it easy for investors to access global stock portfolios. (The Fintech Times)

CBD Investr

CBD Investr is available to download by anyone and does not need a linked CBD bank account.

After downloading the app the investors need to register themselves using the national Id. Thereafter, they answer a few questions that will identify their risk profile and help create an investment portfolio.

They can fund the purchase of the investment, which can be as low as $500, by transfer from any bank.

They will have access to globally diversified and customized portfolios of stocks, bonds, and other asset classes using low-cost exchange-traded funds (ETFs). The portfolios will take into account the customer’s specific goals, risk appetite, and investment time horizon. The app will monitor and optimize the portfolios based on dynamic market conditions.

In a soon-to-be-introduced feature, customers may also choose to create “virtual” portfolios and test their performance with real-time updations before actually investing their money.

Investment industry up for disruption

Dr. Bernd van Linder, Chief Executive Officer of Commercial Bank of Dubai, said: “Digital technology is disrupting the financial industry and is a key strategic priority for CBD as part of its vision to be ‘default digital’. We believe the next wave of disruption will be in the investment industry and our goal is to provide state-of-the-art investment services to all individuals across the region. We are delighted to launch CBD Investr, an innovative app leveraging cutting-edge technologies to deliver a world-class investment solution which will help customers grow their wealth in a simpler, more transparent and affordable manner.”

Mark Zanelli, General Manager, Treasury, Asset Management & Global Markets at Commercial Bank of Dubai added “CBD Investr heralds the next generation of Investment Services and provides financial market access to a much wider range of investors. Investing for the future is something that is on everyone’s mind and with the low entry point of $500, this product enables individuals to start investing for their future much earlier in their careers.”

Bart Vanhaeren, CEO and co-founder of InvestSuite, commented: “Our cooperation is proof of the new, emerging ecosystem, consisting of financial institutions, core banking providers, management consultants & fintechs, with each bringing their unique strength. We are convinced that the CBD Investr platform is a game-changer for their current and new customers.”

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