27 May 2018

Moneyfarm acquires tech behind PFM chatbot Ernest

06 October 2017  |  4464 views  |  0 Chat icons

UK digital wealth platform Moneyfarm is aiming to move into the personal financial management space with the acquisition of financial chatbot technology startup Ernest.

Moneyfarm is in the process of combining the technology behind Ernest with its existing product, with a view to helping users manage their money, budget, and figure out which investments products could be suitable based on financial habits.

Giovanni Daprà, co-founder and CEO of Moneyfarm, comments: “Artificial intelligence and a conversational user interface will help us to improve our algorithms and ultimately offer a better product to our customers. As we work to integrate chatbot technology across our product offering we’ll be able to assist over an individual’s full wealth lifecycle, from the first pay cheque through to retirement.”

The acquisition comes after bootstrapped Ernest failed to raise further funds through a crowdfunding campaign to grow the business independently.

Ernest CTO Lorenzo Sicilia has joined the Moneyfarm team to oversee the technology integration project.

Terms of the transaction were undisclosed.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Robots on the high street: MoneyFarm opens pop-up shop

Robots on the high street: MoneyFarm opens pop-up shop

20 May 2016  |  8488 views  |  0 comments | 7 tweets | 9 linkedin
Robo-advisor MoneyFarm launches in the UK

Robo-advisor MoneyFarm launches in the UK

25 February 2016  |  10973 views  |  0 comments | 10 tweets | 11 linkedin
Robo-advisor MoneyFarm raises EUR16m for UK launch

Robo-advisor MoneyFarm raises EUR16m for UK launch

09 November 2015  |  9938 views  |  0 comments | 22 tweets | 8 linkedin

Related company news


Related blogs

Create a blog about this story (membership required)
Visit www.vasco.com/news/mobile-firstVisit iliad-solutions.com/Visit www.niceactimize.com

Who is commenting?

Top topics

Most viewed Most shared
satelliteAnt Financial provides tech for China Ever...
29047 views comments | 3 tweets | 2 linkedin
Digital banking transformation creating new systemic risksDigital banking transformation creating ne...
8960 views comments | 18 tweets | 26 linkedin
MUFG to roll out blockchain payment network next yearMUFG to roll out blockchain payment networ...
7631 views comments | 13 tweets | 13 linkedin
There are some things you just can't do with an appThere are some things you just can't do wi...
6903 views comments | 9 tweets | 15 linkedin

Featured job

Competitive base + commission + benefits
UK or Germany

Find your next job