AJ Bell Youinvest has purchased £500 worth of Facebook shares using Facebook Messenger.
AJ Bell Youinvest has become the first DIY investment platform in the world to complete a live share trade using Facebook Messenger.
A total of £500 worth of Facebook shares were purchased.
In April 2016, Facebook launched its Messenger Platform which enables firms to build automated customer services functions using ‘Chat bots’, computer programs that mimic conversation with people using artificial intelligence.
Facebook’s Messenger Platform is already being used by companies to enable their customers to access news, order flowers or purchase fast food.
Tim Huckle, digital strategy director at AJ Bell, said: “We have created a secure authorisation framework between the Facebook Messenger platform and AJ Bell Youinvest.
“We have added a further layer of security whilst keeping it easy to log-in by sending a time-sensitive, one use pin to the customer’s registered mobile phone.”
Adviser View
Richard Allum, managing director of The Paraplanners, said: “Good to see new ways being opened up for people to save and invest and Facebook is one of, if not the biggest, community out there.
“I’d imagine there is one eye on the millenials here and another extension of the so called robo-investment movement.
“As with other similar ideas, attracting users and those with some money is the key issue. I would also be interested to find out more about the regulatory and security issues.”
