KUALA LUMPUR: Kenanga Investment Bank Bhd (KIBB) has launched Kenanga Digital Investing (KDI), a fully automated artificial intelligence or AI-driven robo adviser.

       In a statement yesterday, KIBB said the KDI platform is licensed by the Securities Commission and consists of two products namely KDI Save and KDI Invest.

       “KDI Save allows users to earn daily returns on their savings with no lock-in period and zero management fees. From now till the end of the year, KDI Save offers a market leading 3% fixed interest rate.

       “On KDI Invest, customers can grow their wealth with access to global investment opportunities through US-listed exchange- traded funds at one of the most competitive fees in the market,” it added.

       According to KIBB group chief digital officer Ian Lloyd, customers can invest in global equities with an initial investment of RM250.

       He said KDI Save, a cash management product, has one of the highest returns in the market while KDI Invest provides a gateway to the global markets at an affordable fee.“KDI’s innovative portfolio design is a game-changer for wealth management.

       “The system selects suitable portfolios to help customers achieve their investment goals in line with each customer’s personal risk preferences.

       “The AI monitors global market conditions and rebalances customers’ portfolios automatically, giving them peace of mind that their portfolio is being taken care of around the clock,” said Lloyd.

       KDI Invest is free for investments of below RM3,000 while investors above that limit will be charged a management fee of between 0.3% and 0.7% per year.

       The bank also pointed out that robo advisers used by KIBB have technology to monitor global markets and react to new investing opportunities.

       “The technology also analyses thousands of data points each day, incorporating information from across continents and asset classes, to develop investment portfolios without the influence of human emotions,” said KIBB.