Killik & Co launches AI-powered save and invest app
Killik & Co has launched an intelligent save and invest app-based service called Silo, offering a mix of advanced technology and human expertise.
It allows users to set up either a stocks and shares ISA or general investment account in less than 15 minutes, enabling instant access to a tailored, well-diversified portfolio of funds managed by Killik & Co’s Mick Gilligan.
The independent investment house says Silo goes beyond the existing market offering in giving users three ways to save using one platform.
Firstly investors can set up a “monthly recurring silo” of a Direct Debit of at least £25 a month.
Secondly, users can set up an “intelligent silo” by linking their bank account to the app. Silo will then use AI-powered algorithms to study the user’s spending habits, calculate how much they can afford to set aside each day and makes investments on their behalf.
The third option is “Silo ad hoc boosts” which enables users to add money to their funds anytime.
Silo is available to download through the Apple App Store and Google Play. Users are easily able to withdraw money from Silo anytime at no cost.
Georgie Killik, head of innovation at Killik & Co, said: “With the wealth management sector becoming increasingly automated, more clients are looking for tailored, yet accessible save and invest solutions. We are so excited to bring Silo to market – a true labour of love, we have been working hard on building a save and invest service that has been designed to both look and feel innovative.
“Silo offers three different ways to save, enabling users to begin their investment journey in a way that meets their needs. Regular savers can opt in for the monthly-recurring Silos, whereas contractors or ad-hoc savers would find ‘boost’ more appropriate. For added efficiency, Silo’s intelligent saving algorithm can determine available cash to help meet the users’ objectives. These advanced technological and personalised features of the app make the experience beautifully simple.”