The Commercial Bank of Dubai announced the launch of its CBD Investr app which offers a robo-advisory investment solution.
Developed in partnership with InvestSuite, a wealthtech company based in Belgium, the investment app is powered by smart algorithms that actively manage investment portfolios to deliver optimal risk-adjusted performance.
CBD Investr offers customers convenient access to globally diversified and personalised portfolios of stocks, bonds and other asset classes using low-cost exchange traded funds (ETFs).
Customers can start investing in a matter of minutes by simply downloading the CBD Investr app, registering using their Emirates ID and answering a few questions to assess their risk profile and create a personalised portfolio.
They do not need a CBD bank account to fund their portfolios and can make a local transfer from any bank account in the UAE.
Customers can start investing with a minimum of $500 and withdraw at any time, without any charges.
As part of the planned enhancements in the next few months, the app will include a virtual portfolio feature which will allow customers to create portfolios and monitor actual performance before investing money.
In addition to that, the app will also introduce a self-investment solution for more experienced investors who want to buy and sell global stocks and ETFs.
Dr. Bernd van Linder, Chief Executive Officer of Commercial Bank of Dubai said,
“We believe the next wave of disruption will be in the investment industry and our goal is to provide state-of-the art investment services to all individuals across the region.
We are delighted to launch CBD Investr, an innovative app leveraging cutting-edge technologies to deliver a world-class investment solution which will help customers grow their wealth in a simpler, more transparent and affordable manner.”