ING launches pocket-sized personal financial advisor

ING launches pocket-sized personal financial advisor

ING is to provide customers in Spain and the Netherlands with a 'financial advisor in your pocket' through the launch of a new mobile app dubbed My Money Coach.

Billing the development of money management tools as an 'innovation priority', the Dutch bank says the new digital service is designed to help customers make smart savings, investment and retirement decisions.

"By answering a few basic questions about their personal situation, risk attitude and financial knowledge, My Money Coach designs a personalised savings and investments plan to help customers achieve their financial goals," says the bank.

The new service, which is already undergoing pilot trails in Belgium, is based on ING France’s “CoachEpargne”, which was released in April.

The bank says knowledge and experience gleaned from France, Spain and Belgium will then be incorporated into similar tools to be rolled out to ING’s retail customers in other countries.

In its home market, the bank is also rolling out a new forecasting app, designed to give customers an overview of their likely spending 35 days ahead. Called 'Kijk Vooruit', or 'Look Ahead', the app uses advanced analytics to show all planned and predicted transactions, helping customers to keep a grip on their finances and avoid going into the red.

Launched on 6 July, Kijk Vooruit is now available to all 2.6 million users of the Dutch mobile banking app. Users need to opt-in to the service, with the development team saying that the number of people activating Kijk Vooruit has far exceeded expectations.

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