Derayah Financial, an investment and business technology provider announced the launch of “Derayah Smart”, the first Robo Advisor for individuals launched by a financial institution in the Kingdom of Saudi Arabia.
Robo-advisors are a class of financial advisers that provides digital financial advice based on mathematical rules or algorithms.
The investment advisory platform provides integrated investment solutions for individual investors covering investment and savings needs.
Also Read: The Rise And Rise of Robots
It also defines their investment objectives by analysing their answers through the digital platform to a set of questions.
The investments are managed by an advisory team that aims at the good distribution of investments and the continuity of the quality of the investments, which reduces the associated risks, as all the investment solutions in the platform are from multiple and global assets.
Mohamed Al Shamasi, CEO of Derayah, said the idea of launching Derayah Smart came from the interest of the Financial Sector Development Program and Vision 2030 in savings and investment, which encouraged Derayah to open channels concerned with saving and investment, including Derayah Smart platform, which provides smart savings and investment solutions that benefit an individual.
