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 No, follow the investment rulebook Kyle Caldwell My five investment resolutions for 2016 Richard Evans Richard Evans Bank security: annoying AND useless James Anderson This is why I'm worried for investors in the FTSE 100 'Facial scans that can calculate risk': new tools that will transform your finances From robo-advisers to Google Glass, technology is set to re-invent the way people manage their finances, says fintech expert Holly Mackay The new Google Glass 'Thin' prescription frames in One expert predicts nine out of 10 Tokyo olympics visitors will use augmented reality By Holly Mackay 7:52AM GMT 07 Feb 2016 The pace of technological change in the retail financial market is accelerating fast – and some weird science is coming soon to an investment portfolio near you.
 Payments, banking, pensions and investments are being shaken up by the “geek squad”.
 Old, established brands such as Aviva now have spin-offs called things like Digital Garage, and last year the regulator received 39 requests for help from companies wanting to set up computerised financial advice systems, otherwise known as “robo-advisers”.
 Mobile payments have been the first thing to change our financial patterns.
 Millions are hailing an Uber cab, or buying coffee from Starbucks with a tap on their mobile phone.
 YoyoWallet, the UK’s fastest growing mobile wallet, gives consumers a reward each time they use their phone app to pay for services.
 The firm has thousands of students using the app across 12 universities in the UK to purchase food on campus, and the startup has branched out to bigger businesses.
 • Nutmeg cuts fees amid arrival of cheaper 'roboadvisers' • Risks emerge in the age of robot advisers • Could Britain's next runaway tech success be one of these?
 iZettle has helped sole traders and small businesses that normally can’t afford to accept debit cards to accept card payments through a mobile phone.
 Lawrence Wintermeyer, CEO of Innovate Finance, expects to see more innovators trying to tap into the unbanked and unrepresented consumer market.
 He said: “The firm Pockit, for example, gives customers an account and card that they can use to manage their money and make payments.
 Users can deposit money into their account at thousands of locations across the UK or have their salaries or benefits paid into their account.
 Pockit users also get cash back deals on the high street and online.
” • The best of Telegraph Money: get our weekly newsletter So-called “challenger banks” are popping up and Monese is the latest to make waves.
 Many people coming to work in the UK find opening a bank account a frustrating process, requiring an appointment with a Jobcentre for a “proof of identity” interview which can take months.
 Monese is a mobile banking app that reportedly achieves this in five minutes.
 Aside from banking and payments, many anticipate positive change in the savings and investments market as disruptors shake the clunky paper-based incumbents who are still too opaque on charges.
 "I think it’s maybe five years at least until the technology is at a level where AI can take on more of the customer-facing roles.
" Anthony Morrow Keeping track of pensions isn’t a fun job.
 Today’s workers are a mobile lot and many of us have multiple small accounts scattered around, some of which we may have even forgotten about.
 Pension Bee is a newly launched online pension manager that helps people to find their pensions and combine them in an online plan, with the underlying assets managed by some big names such as BlackRock.
 Low cost and simplicity are its catchphrases.
 Robo-advice hit our shores with the launch of Nutmeg back in 2012.
 These services help people who haven’t the foggiest about investing by effectively delegating the portfolio construction to a computer – which is less likely to make a bad decision than an irrational human.
 Answer a few questions about your money and attitude to risk and – voila – a ready-made investment meal appears.
 Robos are evolving to play on our guilt as a motivating force.
 True Potential has an Impulse Save app.
 Splashed the cash and feeling guilty?
 Tap the Impulse Save and send some funds to your investment account by way of atonement.
 Nutmeg is reportedly considering geo-location to allow consumers to pay money into their portfolio when they reach certain locations — for example, when they visit fast-food restaurants, and could be prompted to counteract a bad habit with a good one.
 eVestor is a new Robo, backed by Moneysupermarket founder Duncan Cameron, expecting to launch at the end of the year.
 With total charges intended to be just 0.
44pc for the online portfolio, this will indeed be a disruptive force.
 Chief Executive Anthony Morrow accepts that the simple delivery of an online portfolio alone will not be enough.
 Could artificial intelligence plug the gap by providing financial advice?
 “I think it’s maybe five years at least until the technology is at a level where AI can take on more of the customer-facing roles,” Mr Morrow said.
 IBM has been a major player in AI with its Watson technology which combines human capabilities with artificial intelligence.
 It can understand language, ingest large volumes of data (such as documents and videos), draw insights – and supposedly help us make better decisions.
 • Newsletter: Get a weekly round-up of investment ideas Watson is currently live with the Development Bank of Singapore, which is using it with its high-end customers and there are whispers that it is in test with private banks here.
 Does this actually work?
 According to Bharat Bhushan, IBM Industry Architect for Wealth and Asset Management, “Watson first appeared on the US TV show Jeopardy in 2011 when its one capability was to answer general knowledge questions.
 Today we’re seeing it solve complex problems such as cancer detection and treatment".
 In addition to AI, the next Big Thing is augmented and virtual reality.
 technology research firm, this is coming our way and soon.
 Rather startlingly, he believes that 9 out of 10 visitors to the Tokyo Olympics will use some sort of augmented reality, whether that’s real-time translation, navigation (helped by technology such as Google Glass, effectively offering a satnav just off your main line of vision) or additional information on athletes normally reserved for TV replays.
 In the States, Fidelity have already worked with Google Glass so you can check your portfolio as you walk to work.
 In January this year, Swiss-based firm nviso launched a pilot with advisers in the States, using 3D facial imaging coupled with artificial intelligence algorithms to track and analyse facial expressions and reactions to financial scenarios in real-time to help you to discover how you really feel about your finances and risk.
 Sceptical?
 Check out the EmotionScan tool they built with the Bank of New Zealand and see for yourself.
 Weird science is headed our way, hopefully making banking, saving and investing easier, more appealing, cheaper – and arguably more successful for all of us.
 Holly Mackay is the founder of Boringmoney.
co.
uk.
 Telegraph Money invited her to write this piece following the Digital Investor conference in London last which we she hosted.
 Holly Mackay Holly Mackay by Geoff-Pugh Photo: Geoff Pugh/Telegraph • Have a question for our experts?
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