BlackRock and Scalable develop robo-adviser for Santander bank

​​​​​​US mutual fund giant BlackRock and Anglo-German digital investment manager Scalable Capital have developed a white-label robo-advice solution for Openbank, the online bank of Spanish lender Santander.

The new service, dubbed Invertimos por ti, was made available to Openbank clients in Spain earlier this week. BlackRock is in charge of strategic asset allocation for the new robo-adviser, while Scalable provides the technology. Users can access Openbank’s new service with an initial investment of just €500.