Irish tech firm launches robo-adviser

By Moriah Costa on 25th September 2017

P2P/Marketplace LendingRobo-Advice

Exaxe has launched an automated advice system for its clients.

Irish tech firm launches robo-adviser

Dublin-based software solutions company Exaxe has launched a robo-advice offering for companies.

The platform, called Advice Plus, is a SaaS based automated advice solution and allows life and pension providers to configure the digital experience while still using an existing back end program. It also allows the service to be distributed directly to the consumer or through an intermediary.

Norman Carroll, CEO at Exaxe, says the wealth management industry is facing a lot of obstacles.

“Providers have an uphill battle on their hands unless they acknowledge the changing consumer behaviour and start to create their own digital channels,” said Carroll. “Advice Plus will enable providers to accomplish this.”

Exaxe was founded in 1997 and provides solutions for life and pension companies.

Launched with support from Enterprise Ireland, a government agency that helps companies expand, the platform covers everything from analysis to identifying cover shortfalls, to personalised products and recommendations.

The product will go live by the end of the year but already has interest from companies in the UK, Malta, Singapore and New Zealand, Phillip Naughton, executive director of  business development  at Exaxe said.

“The advent of Brexit and all the regulatory changes that came with pensions freedoms has made this a turbulent time in the life, pensions and wealth management sector,” he said.   “However, Exaxe’s “digital by default” approach to product development is helping to keep our customers ahead of their competitors by enabling them to implement new digital strategies in a cost-effective manner.”

This article first appeared on www.roboadvicenews.com

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