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Nordea's Nora targets women and youth

Nordea has launched its new investment robo-advisor, Nora. The first batch of data from Sweden show that women and younger clients form a large portion of Nora's users. Nordea's Danish director predicts similar patterns in Denmark, writes Danish daily Berlingske.

Photo: Nordea PR

Nordea will release its new robo-advisor, Nora, in Denmark before the summer. Nora will compete with Danske Bank's robo-advisor, June, and the Danish asset manager Bankinvest's Darwin app. Nordea will also be targeting new client segments, writes Berlingske Business.

According to Berlingske, the initial data from Sweden, where Nora is already released, indicates that the Nora is heavily used by younger clients as well as by women. This data differs Danish investment patterns. The average Nora investor is 36 years-old, and clients under the age of 50 account for 76 percent of investments made via the robo-advisor.

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