AJ Bell uses Facebook Messenger to debut share trading

Facebook launched the commercial side of Messenger , it’s instant messaging service, in April to help companies communicate with customers and create automated customer service ‘chat-bots’ which use artificial intelligence to answer queries and provide information.

Now, to prove that there’s nothing artificial about the intelligence at AJ Bell, digital strategy director Tim Huckle has combined the world of investing and social media by building a share trading bot and buying £500 of Facebook shares – on Facebook (see below).

With the rise of online trading, completing a share deal has never been easier and can be done in a matter of clicks using just a smartphone, and if its security proves robust, the Messenger service could be offered to customers in the future.

Messenger has already been adopted by users who want to access the latest news, order fast food or do their online banking – now it could potentially be used to buy and sell shares.

Huckle believes this makes AJBell the first company to complete a live share trade using Facebook Messenger, saying:

‘At AJ Bell Youinvest we continue to explore ways of using new channels to interact with our customers and help them manage their investments. 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.’

AJ Bell is now watching closely how Facebook, and its Messenger service WhatsApp develop levels of encryption, before deciding whether to offer its share dealing service via these applications.

However, the company says it hopes widespread adoption of Facebook Messenger will not only capitalize upon its existing clients’ use of messaging apps, but potentially make financial services more accessible and appealing to a younger audience.

DIY Investor believes that anything that encourages young people to engage with savings and investment at an early stage can only be a good thing, and AJ Bell should be applauded for recognising that mobile technology is the way to speak to the next generation.

 





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