Scalable Capital lets clients trade via ChatGPT and Claude
German broker Scalable Capital announced that its account holders can now use artificial intelligence chatbots, including ChatGPT and Claude, to carry out trading operations and analyze their investment portfolios.
Access through AI chatbots
The new service complements the Scalable Capital mobile app and website as a way for clients to access their own accounts. The company said it had introduced a range of security measures and called the capability a first for a European bank, Channel NewsAsia reports, citing Reuters.
Scalable founder and co-CEO Erik Podzuweit described the launch as a first step toward broader use of artificial intelligence by clients. According to him, some people may still hesitate about giving ChatGPT access to analyze or manage their own portfolio.
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Company’s client base
Podzuweit also suggested that using AI could on average provide better investment returns, but noted that this still needs to be verified.
Scalable Capital was founded in 2014. The company has more than 1 million clients, and its assets exceed €60 billion. The broker mainly operates in Germany and Austria and is also present in Italy, Spain, France and the Netherlands. New financial companies such as Scalable have intensified competition in the German banking market by offering retail investors simpler and cheaper access to investments than many traditional banks.
