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TORONTO – Royal Bank of Canada has rolled out its robotics consulting platform across the country as the demand for lower-cost digital investment options continues to grow.
The bank launched InvestEase on an experimental basis last November in three provinces, but the service has now been officially opened to new and existing customers in Canada.
The national rollout comes as competition in the robo-advisor space between the incumbent banks and the fintech startups warms up.
The Toronto-Dominion Bank recently partnered with the US company Hydrogen to launch its own robo-guidance product, and the Bank of Montreal launched its SmartFolio digital investment platform in 2016.
Meanwhile, robotics consultant Wealthsimple now has approximately 100,000 customers in Canada, the United States and the United Kingdom, and manages more than $ 2.5 billion in badets.
Rebecca Peabad, RBC InvestEase's Senior Director of Strategy, said the platform was designed to meet the needs of the growing segment of clients seeking online investment advice.
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