HSBC to debut robo-advice investment service » Banking Technology

The service will use data and algorithms and will make personal recommendations based on an individual's circumstances. It is expected to be available by the end of the year. The bank says this will "open up wealth management opportunities to those who thought it wasn't for them, thanks to a lower investment entry point". The timing is interesting, as recently HSBC published a research report that showed nearly four times as many people in the UK (41%) would trust a robot to perform heart surgery than open a bank savings account (12%). This is according to its study of 2,000 people in the UK into their trust in technology. In contrast to some extreme scenarios, like surgery and parachuting, just 12% of people would trust a robot to open a savings account for them and only 11% would trust them for mortgage advice.