P&N Bank to trial Decimal’s financial advice platform
Decimal Software, an Australian Securities Exchange-listed company that has developed a robo-advice platform, has entered the mutual banking market, striking an agreement with WA-based P&N Bank. Under the deal, which could be announced to the ASX as early as Tuesday, P&N will evaluate Decimal’s cloud-based platform with a view to implementing it to enhance the experience of customers shopping for financial advice.
Decimal’s software is already being used by QSuper and Mercer, and the Sydney-based company has plans to sell into other financial services business, including banks, in Australia and the United States. It is hoping to capitalise on the need for financial institutions to accelerate their response to consumer-driven digital transformation and serve non-financial consumer brands looking to add personal financial services distribution.