Deraya launches first robo advisory service in Saudi Arabia

Deraya launches first robo advisory service in Saudi Arabia
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Updated 17 September 2021

Deraya launches first robo advisory service in Saudi Arabia

Deraya launches first robo advisory service in Saudi Arabia
  • Robo-advisors are a class of financial adviser that provides digital financial advice based on mathematical rules or algorithms

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 Saudi Arabia.

Robo-advisors are a class of financial adviser 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.

It also defines their investment objectives by analyzing 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 individual.