Australian fintech Douugh has launched an integrated robo-advice service, called Douugh Wealth, as for its customers in the US.
Douugh Wealth, which combines technology and human expertise, enables customers to personalise investment goals in a diversified portfolio through Douugh bank account.
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The AI-based fintech company is rolling out the new service after obtaining a licence from the US Securities Exchange Commission (SEC).
The company also plans to offer managed portfolios, stocks, ETFs, and crypto trading through the Douugh Wealth platform in the next couple of months.
Douugh founder and CEO Andy Taylor said that the launch of Douugh Wealth ‘a critical milestone on our journey to becoming a truly global ‘responsible’ financial super app’ to help users manage their finances.
Douugh head of wealth Tom Culver said: “Douugh Wealth’s core investment philosophy is straightforward and based on the understanding that the generation we belong to will be forever influenced by a rapidly changing path adapting to technological innovation and sustainability factors on an almost daily basis.”
Australia and overseas expansion
According to Douugh, the launch of its robo-service in the US will be a catalyst to accelerate its business offering in Australia, and globally.
At present, Douugh only operates in the US.
In January this year, the company agreed to buy ethical investing platform Goodments for $1.5m as part of its Australian expansion plan.
The firm considers the deal as the first step towards the launch of an integrated banking and wealth platform in the country.
