Raiz Invest’s active user base edges higher again as global stocks hold steady
Fintech platform Raiz Invest (ASX: RZI) continues to slowly build its user base amid a more benign investment environment for global stocks.
Raiz starts its international expansion by launching in Indonesia
Following its success in Australia, Raiz is proud to announce its expansion into Southeast Asia with the launch of Raiz Invest in Indonesia. In Indonesia, Raiz Invest will position itself as an aspirational product to improve by hands on learning financial literacy and financial inclusion, similar to Australia. “We are very excited to bring Raiz Invest to Indonesia. We believe that just like in Australia, Raiz will be a game changer on how people invest. Raiz Invest will be the innovative solution for anyone who wants to start investing, but has never really taken the first step,” said George Lucas, CEO. “As outlined in the prospectus last year our growth […]
Raiz Invest partners with UNSW to power rewards with machine learning
Raiz Invest Limited, the mobile-first micro-investing platform, has partnered with UNSW and with support from the NSW Government to develop a machine-learning recommendation engine for its Raiz Rewards. The new technology will recommend to Raiz customers more relevant offers and brands. It’s designed to provide a more seamless, personalised experience for customers when navigating more than 165 brands on Raiz Rewards. With a customer base of more than 179,000, skewing towards the under-35 demographic, the intuitive experience provided by machine-learning will better address the demands of this millennial audience. “Millennials have grown up with technology at their fingertips. They expect all their interactions to be easy to navigate and, above […]
Raiz gets licence to distribute Mutual Funds in Indonesia
Raiz Invest Limited’s (ASX code: RZI) expansion into Southeast Asia has taken a major step forward after securing a licence to distribute Mutual Funds. Raiz Invest, via its subsidiary PT Raiz Invest Indonesia, has secured the Mutual Fund Selling Agent (“APERD”) licence from the Indonesian Financial Services Authority (OJK) to act as a Securities Brokerage specifically established to market Mutual Funds. Further reviews by the OJK of the Raiz mobile first saving and investing technology are required before Raiz Invest can become fully operational in Indonesia. Raiz has established an office in Jakarta with three staff and is well progressed in modifying its platform for the 270-million Indonesian market. Raiz […]
Raiz partners with Swiss RE to develop tailored service offering
Raiz Invest Limited has reached an agreement with Swiss Re to work exclusively with Swiss Re to jointly research and develop tailored and personalised superannuation insurance products using machine learning algorithms. This will initially be for its Raiz Invest Super product. The research and development process will use predictive modelling technology, powered by machine learning developed by Swiss Re. This will include co-developing a predictive underwriting model which aims to deliver a simpler underwriting experience for customers. The aim is to develop a risk product inside superannuation that allows customers to have a personalised product, which is simple to apply for online. Predictive modelling will give Raiz Invest Super the […]
Raiz Invest brings financial insights to life with Facebook chatbot
Raiz Invest, the mobile-first micro-investing platform, has today launched a chatbot to improve the user experience. Customers can ask Ashlee chatbot specific questions about their account or the financial markets and get general customer support. Much like a personal fitness coach, the aim is to help Australians have a healthier relationship with their finances. With an active (paying) customer base of more than 172,000, skewing towards the under-35 demographic, Ashlee provides intuitive and real-time responses. Integrated on Facebook Messenger, it takes advantage of the personal and instant nature of the app in aligning with millennials. Personalised on-demand investment updates Ashlee further personalises the Raiz experience. She will answer personal […]
Micro-investing app Raiz – how it works
Raiz, which until recently was known as Acorns, is a micro-investing platform aimed at Australians aged 18 to 35. Raiz allows people to invest small amounts in the stock market using a smartphone app. Over 500,000 people have signed up to Raiz since it launched in February 2016, though only 164,000 of those are active users. Raiz now has $214 million under management and the average customer has a balance of $1234. Raiz Managing Director George Lucas says Raiz is a user-friendly, automated savings and investment tool which doesn’t seek to generate market-leading returns, though “the average Raiz customer has made 11% per annum since launch and 10.1% per annum […]
Meet the brains behind Raiz Invest research and insights
Raiz Invest Limited, the mobile-first micro investing platform, improving financial confidence for over 164,000 Australians, is strategically using research and insights to continuously garner understanding and awareness of their customer needs, with the help of Dr. Jake An, Raiz Invest Research Phd and in conjunction with major Sydney Universities. Dr. Jake An applies his PhD theories to Raiz customers to improve the user experience and is now the brains behind the continuing research program of Raiz. His role is to merge his two passions, academia and research applying them to real world of financial literacy and behaviour. Working with Raiz since 2016, Jake identifies business problems and works directly with […]
