The way new investors interact with financial institutions has changed in recent years, in which digitalization takes an important place. With this premise and that of offering as many people as possible a tool to manage money in a simple and personalized way, Kutxabank Investment (formerly Norbolsa) launches Finnk, a new investment concept with which it aims to compete with neobanks. The commission charged directly to the client is 0.45% per annum, while the underlying products have commissions ranging from 0.22% to 0.73%. The minimum amount to start financial planning is 1,000 euros and will have funds from BlackRock, Fidelity, Pictet, BNP Paribas or Vanguard, among others.
The tool applies artificial intelligence to investment management to optimize and enhance resources, but the main differentiation – they emphasize from the company – is the personalized attention, on which a large part of the efforts of this project, which has been construction two years. Thus, based on algorithms designed by experts, the investor will be able to have detailed monitoring of the evolution of investments and the impact of market behavior in real time.
The Finnk project is aimed at a potential group of 5 million customers, aged 25 to 60, digital natives, and who are starting to have savings (including younger profiles here). The profile of the superfinkers, named after the Basque entity itself, are approximately There are currently 1.1 million of them and they plan to attract 2% in the next three years, or around 22,000 customers. An objective, they acknowledge, ambitious given the pace of their competitors, even if they also have a “more mature” market than the one that existed a few years ago.
On the product side, thanks to this discretionary portfolio management platform you will have access to three “highly diversified” fund portfolio management models from the world’s leading managers, with a significant weighting in equitiesbecause of its long-term vision. They currently have 12 managers, a number that may vary over time.
Concretely, the models in question are Advance, quantitative and automated investment model, based on a cutting-edge algorithmic model, created by Artificial Intelligence, in the selection of assets and their weight within the portfolio; Sustainable, investment model aimed at promoting environmental, social and corporate governance sustainability; and Trends, active management model, based on investing in global trends designed to transform the world.
The company highlights the registration process within the platform (integration) as another of its strengths, with one of the most “agile and powerful” processes on the market, which stands out from the more tedious contractual procedures that other investment platforms have involved so far.
