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Royal Bank of Scotland (RBS) has officially applied the latest artificial intelligence-led technology to its wealth-management operations, as the state-backed lender is trying to gain an edge over rivals in the UK banking sector.
RBS will run the newly launched robo-adviser service under its NatWest brand, the bank it bought more than 15 years ago.
For retail investors, the investment threshold for the new service has been set at £500 ($660), which is a low amount compared to the product limits of traditional banking wealth management.
Starting Monday, NatWest branches will begin offering the automated online investment advice to over 5 million customers, ... (read more)