Spring FG pushes further into 'robo advice'

The system, developed by Australian fintech company My Prosperity, will enable clients to consolidate lifestyle and investment assets and transactional data into a single dashboard, Spring FG said in a statement.

It will also be linked to Yodlee Inc, a cloud-based platform technology which will provide bank-level security, encryption and data aggregation from over 14,000 financial account sources. The system also links to RedBook, RP Data and Class Super.

"With Spring247 we've taken a fresh approach to the digital age to make managing money and wealth easier, more engaging and more fun than ever," said Spring FG managing director, Keith Cullen.

"Spring 247 is a powerful and simple-to-use platform designed to provide our clients with the peace of mind that comes from being on top of all of their finances in one place."

Within Spring247, clients will able to link their bank accounts, credit card and loans, shares, managed funds, and industry, retail or self-managed super fund assets. They may also add and obtain valuation estimates for their family home, investment properties and motor vehicles.

As the system develops, it will include video-conferencing and digital document sharing, enabling clients to interact with their advisory team and receive personalised advice.

The new platform comes after Spring FG acquired Digifi, a "financial markets publisher and website operator," earlier this year. The deal was intended to take the company into robo advice and complement its existing Wealthadviser Financial Education product, which will be accessible via Spring247.