Decimal seeks to expand robo-advice network

Decimal has appointed specialist technology advisory firm GrowthPoint Technology Partners to assist the firm with strategic positioning and expansion in the robo-advice market.

Decimal seeks to expand robo-advice network

tlewis

Last Updated: 05 November 2015 Published: 05 November 2015

In an announcement to the ASX, Decimal said the US-based firm will help it pursue growth initiatives and strategic partnerships within the automated advice space with the aim of expanding its distribution and commercialisation partner network.

"Decimal will look to tap into the burgeoning interest for automated (or robo) financial advice technology that has resulted in financial institutions, technology companies and venture firms' position within this high growth area driven by consumer take up," the statement said.

Decimal executive chairman Michael Sertorio said, "Based on our own experience in the US and the level of corporate activity and investment in the robo-advice space now being evidenced, we believe there are significant opportunities to leverage the Decimal first mover technology.

"Client success achieved with the Decimal robo-advice platform in Australia provides the company with confidence that GrowthPoint can assist in accelerating our commercialisation efforts," he said.