This automated financial advisor persuades.
Robo-Investment Platforms from Financial Institutions or Tech Companies offer Easy Investment for Customers. A review reveals how easy they are to use.
The German Institute for Service Quality examined 15 Robo-Investment Platforms and discovered that those offered by banks achieved an excellent score (81.0 out of 100 points), while those from tech companies scored moderately well on average (79.4 points).
Ten providers received an excellent quality assessment, and another five Robo-Investment Platforms performed well in terms of user experience. Notably, the process of using most of the platforms is simple, and users always know what to expect.
However, there are substantial disparities in how individual investment goals and financial situations are evaluated: not all platforms excel in this area, as crucial information might not be collected fully or at all.
Websites as a Valuable Resource
The providers' websites consistently scored well to excellent. They offer a variety of information about investment strategies, risks, and return possibilities, as well as how the investment planners function or their costs. Twelve out of the fifteen platforms also provide a customer service hotline, which is frequently prominently displayed on the homepage.
Markus Hamer, Managing Director of the German Institute for Service Quality, concludes: "The goal of the research was to evaluate the user experience rather than the investment success of the digital solutions based on returns. However, it is clear that considering individual prerequisites, such as financial situation, also influences the success of the investment strategy. Nevertheless, the outstanding performance of numerous Robo-Investment Platforms is noteworthy."
Top Bank Solutions
Cominvest (Comdirect) is the top-ranked bank option with an excellent quality rating. Its website offers extensive and detailed information about its Robo-Investment Platform, including risks and potential returns. The website also includes a comprehensive glossary explaining financial terminology. The cost presentation is straightforward for users.
Robin (Maxblue/Deutsche Bank) comes in second with an excellent quality rating. The website is its key strength, providing a high value of information. The Robo-Investment Platform also impresses with a quick usage process.
Bevestor (Deka Bank) comes in third with an excellent quality rating.
Top Robo-Investment Platforms from Tech Companies
Whitebox is the top-ranked tech company with an excellent quality rating and excels with the best overall website. The website provides extensive thematically specific hints about the Robo-Investment Platform and many general information and contact details. Whitebox stands out with a clear product presentation and understandable costs from the user's perspective. It also collects extensive information about investors' financial situations.
Growney comes in second with an excellent quality rating. During the investment planning process, the platform captures users' preferences in detail, for instance, by asking for the desired return. Growney also scores well in the volume of information and offers an intuitive navigation process.
Ginmon is another provider with an excellent quality rating, ranking third.
The Consumer benefit greatly from the easy-to-use Robo-Investment Platforms, with Comdirect's Cominvest leading the pack among bank options due to its comprehensive and detailed information. On the other hand, Whitebox from tech companies ranks highest due to its extensive thematic hints, clear product presentation, and user-friendly cost structure.
