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Azimut targets millennials with app launch

MillennialsItalian asset manager Azimut has made its first move into the mass retail market with the launch of an  investment mobile app called Beewise.

The firm’s subsidiary, Azimut Investments, has partnered with open banking provider Salt Edge for the service.

According to Azimut, the Beewise app is “set to debunk the myth that investing is accessible to financial gurus only”.

It allows  users to aggregate account information and initiate payments, as is typical with open banking offerings, but will also use machine learning and artificial intelligence to allow investment in various thematic funds, developed by Azimut.

“We’re bringing young people close r to smart money management and investment,” said Matthias Van Den Eede, Beewise founder and digital business development manager at Azimut.

Direct to consumer (D2C) channels like investment apps and fund platforms have enjoyed a big spoke in use, thanks to a surge in younger investors and a demand for digital wealth services, which has been partly driven by the Covid-19 lockdown.

For example, flows into UK fund platforms enjoyed record fund flows in the first half of 2021.

©2022 fundsTech

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