HELSINKI - The robots advising investors at the biggest Nordic banks just had their best quarter since being switched on.
At the biggest Nordic bank, Nordea, its robot adviser drew in roughly 40 per cent more users in the wildest weeks of the Covid-19 panic than last year on average. Ms Tanja Eronen, co-head of investment products at Nordea's wealth unit in Helsinki, says Nordea's robot adviser, dubbed Nora, played a crucial role in helping the bank through the crisis. It also exposed"an interesting development" in client behaviour, she said.
For Nordea, having a robot handle younger customers, who were often first-time investors, proved hugely helpful as the bank tried to deal with the sheer volume of client interest."Nora definitely helped reduce pressure on our investment advisers, who were already busy helping tens of thousands of existing clients through market swings," Ms Eronen said.