BKS, a Russian company, and its partners are developing Fins.money, an online service to assist inexperienced investors in managing their money in financial markets.
The service is said to be able to analyze a financial market, generate customized recommendations to the user, and look for deposit and investment offers that would suit him.
The Fins.money functionality reportedly took 18 months to complete and debug, and $5m in investment from its shareholders. BKS acted as an infrastructure investor for the project.
Within 12 months, Fins.money is shooting for a hefty 5% of the entire PE market in Russia, with as many as 50,000 customers. Plans are to get a client base of a million five years from now.
“Fins.money is a blend of financial knowledge and technology. Unlike marketplaces, it’s a service first and foremost. Once an agreement is inked with us, the customer doesn’t have to go or travel anywhere anymore; he will be able to open accounts and buy investment projects remotely. In addition, we are an independent team and can recommend what would really benefit people,” said Vladimir Shabason, one of the project’s shareholders.