FT: Moneybox pledges to replicate IFA work at fraction of cost
Moneybox’s mobile app makes it easy for consumers to select and manage savings and investment products. Users can meet their saving goals through one-off investments, regular direct debit payments, or a ‘keep the change’ concept where everyday spending is rounded up to create a balance that can be automatically saved.
The app is targeted mainly at the millennial generation who do not engage with traditional investment products because of the overuse of jargon, high fees and a failure to communicate through the right channels. Moneybox aims to address this audience by creating a simple, easy-to-understand investment platform and an engaging marketing strategy.