Moneyfarm has won Innovation of the Year at the 2018 British Bank Awards in an exciting evening in Central London.
In its fourth year, the British Bank Awards is the most widely reporting banking awards in the UK. Placing customers at the heart of the industry, over 24,000 consumers and businesses voted in this year’s awards.
Moneyfarm was shortlisted for the Innovation of the Year award alongside Wealthify, WiseAlpha, Habito, True Potential Investor, and Revolut. The award was powered by Bud, who won best newcomer on the night.
“We’re thrilled to win such a prestigious award, and excited to see customer support for our product,” Co-Founder and Chief Executive Giovanni Daprá said after the win. “We launched Moneyfarm to fill the void we saw in the investing marketplace: traditional financial advice remained out of reach for many, whilst existing robo advisers lacked the benefits of affordable, real personal advice.
“Technology sits at the heart of our product. However we believe that in combining technology with human empathy and financial expertise we deliver something truly innovative – delivering cost-effective advice and investment solutions to every user.”
Moneyfarm was founded in 2011 by Giovanni Daprá and Paolo Galvani after they realised the wealth management industry wasn’t catering for those with less money who could still benefit from investing.
Moneyfarm blends technology and human expertise to help people protect and increase their wealth for a more secure future. Whilst we believe that a machine is never better than a human, a human with a machine hold the real power to change.
We use algorithms to match investors with investment portfolios that are specifically built by a team of experts to reflect their risk profile. This profile is determined by what they’re saving for, when they’ll want their money and their attitude to risk.
This removes the option to make potentially costly mistakes and can help people achieve what they really want in the long-term; peace of mind and financial security.
Where it can take up to a week to get investment advice from a traditional wealth manager, Moneyfarm’s own algorithms reduce this to seconds. Technology empowers our investors and gives them more time to focus on the important things in life.
In these uncertain times of financial crises, climate change, political instability and constant connectivity, Moneyfarm helps its investors navigate life’s more complex issues.
Founder of Smart Money People Mike Fotis said: “Smart Money People was founded on the belief that people power can help to make financial services work better for everybody. The fact that these awards are customer-driven should make winners especially proud to take home a British Bank Award in 2018.”