London fintech group Nucoro to expand in Ireland

London-based fintech company Nucoro is to begin offering its services in the State , brings its digital investment solutions to the wealth management sector.

The company’s Exo Investing system is fully automated and powered by artificial intelligence, and is targetting a growing wealth management sector in the State.

Explaining its decision, the company, which provides bespoke white-labelled technology to third parties, said the State has one of the fasting growing wealth management sectors in Europe along with an increasing financial and tech savvy workforce that is being fuelled in part by Brexit.

According to research quoted by the company, there are almost 78,000 millionaires in the State, a rise of almost a third since 2013.

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The sector is also expected too get a boost from the Republic’s auto-enrolment defined contribution pension savings system that is scheduled for 2022.

"We have had great success in supporting a number of financial services companies with their digital wealth management services, and we are now looking to support companies in Ireland wanting to enhance or expand into this area," said Nikolai Hack, chief operating officer of Nucoro.

“We believe Ireland’s wealth management sector will enjoy some of the biggest growth in Europe over the next few years, and we are keen to be a part of this.”