Zopa Bank has launched a new support path for its investment customers, intended to provide them with the most relevant fund options depending tailored to their needs.

Under the new offering, customers signing up to the neobank’s investments platform can ask for help choosing a fund.

They are then asked to answer nine questions that help define their risk appetite, confidence and response to uncertainty and investor type, which Zopa uses to provide them with a recommended fund.

The neobank received regulatory approval for the service in May, becoming the first bank in the UK to receive the nod.

Merve Ferrero, chief strategy officer at Zopa Bank, said: “We’ve seen a persistent gap between people’s intention to invest and their confidence to take that first step, even when they have meaningful cash savings.

“Too many consumers are unsure whether investing is right for them, whether they can make good decisions, or how much risk they should take. Our targeted support service is designed to close that gap, giving first-time investors the confidence and clarity to get started and make their money work harder — with greater peace of mind.”

Zopa offers two ready-made funds, Balanced and Bold, which are managed by the investment manager Invesco.

The bank emphasised that the support does not constitute financial advice.

Earlier this month, Zopa launched a proprietary AI-powered banking assistant called Ask. Using the new tool, customers with a Zopa current account can use natural language prompts to complete banking tasks such as sending or requesting money, creating savings pots or splitting bills using a photo of a receipt.

Ask can also be used to provide customers with goals across savings or budgeting.

---