July 29, 2019
Is Commbank’s Pocket a New ‘Killer App’ for Investors?
Disclaimer: This article is informative in purpose and does not constitute financial advice. The author urges you to obtain professional advice before pursuing any financial investment.
Recent days have seen the Commonwealth Bank of Australia (CBA) launch a new micro investing app. Joining apps like Raiz (previously Acorns), Spaceship Voyager, and others that seek to make it easy for everyone to grab a stake in the sharemarket for a minimal investment.
Given the CBA is a household name in Australia, could the Bank’s decision to get into this field make this release a new ‘killer app’? And what does the release of Pocket tell us about the convergence of traditional investment and user friendly digital technology right now?
What Pocket And Apps Like It Do
Put simply, Pocket provides an easy way for investors to start investing. Starting at $50, customers can buy units in an Exchange Traded Fund (ETF). With 7 funds currently offered by the app that range from exposure to tech companies and sustainability leaders, to emerging markets and top 200 on the Australian Stock Exchange.
As an exchange-traded fund (ETF) isn’t an individual stock but a collection of them pooled together, ETFs … Click to continue reading