UK fintech offers world’s ‘first’ net zero pension fund

Most of us know it's sensible to have money set aside, whether for a rainy day or for retirement. However, most of us also find it hard to do, condemning us to work longer than we want to, or not having enough to be comfortable later in life. Most of us have that nagging feeling that we should be doing more. Knowing the right things to do for the sake of our long-term financial wellbeing is one thing, doing it is another.

Fintech has become synonymous with brilliant, new and engaging financial products and concepts. The term has only, and could only have, existed after the start of the twenty-first century since the internet became not only a ‘nice to have’ but an essential part of daily life. But if the ‘tech’ in fintech is to serve its purpose, it needs to be user friendly to drive engagement and use.

Let’s face it robo-advice exists because face to face advice is expensive and the majority of the population won’t pay for it. Generally people won’t pay for goods or services that either have no perceived value or the cost exceeds the perceived value. In the financial services industry, I would argue the issue is the former; the majority of people perceive that they simply don’t need advice.

It is widely acknowledged that financial education is an important factor in life, helping us plan for the things that matter: buying a house, having children, getting married and of course retirement.