Consumer investment platform Yammi launches in Russia
Russian payments firm Yandex.Money and asset management group FinEx have jointly launched Yammi, a digital investment platform.
“Yammi is the gateway to healthy investing for everyone, using a convenient technological platform at minimum cost”, says Oleg Yankelev, CEO at FinEx Plus.
The new product has a fully automated process to help users keep up with their portfolios and market conditions, and modify them accordingly.
The platform invests using exchange traded funds (ETFs) which track indices covering an array of asset classes and have lower costs than mutual funds.
Yammi uses FinEx’s robo-advisory service, and an analysis of Yandex.Money users’ profiles to create personalised investment offerings to users.
“We are absolutely sure that Yammi will stimulate interest in the retail investment community in Russia and become an indispensable tool and advisor for efficient investing,” says Ivan Glazachev, CEO at Yandex.Money.
Yammi can be set up through a user’s Yandex account answering questions for its “risk mapping methodology”.
By providing data on investment amounts, horizon, currency and age, Yammi generates an investment plan for the user, as long as the account has at least RUB 5,000 in it (roughly $80).
Last year, Yandex partnered with Sberbank, the largest retail bank in Russia, to create an e-commerce system.
More recently, FinTech Futures gave Yandex.Money the spotlight in a case study.
