Nutmeg partnership with Godel offers customers tech-first finance tools
Nutmeg has partnered with software developer, Godel, to launch four new calculators to help people reach their financial goals. The tools give consumers a better understanding of their financial position today, the ability to understand how much they need to invest for the future, and a clearer picture of their tax position.
With technology being a part of everyday life for most people in the UK and with opportunities to provide consumers with a tech-enabled approach to their finances, Europe’s largest digital wealth manager1 has teamed up with software development firm, Godel, to give people tools they can use to help plan their finances with more confidence, control and clarity.
Nutmeg and Godel have built four new calculators that are available to customers in the Nutmeg app and non-customers on the website. It will allow them to see their financial situation today and help them to achieve their financial goals. The Nutmeg calculators include:
• ISA calculator – helps people to understand how much they’ll need to invest each month, or how long it could take to reach their investment goals.
• Pension calculator – provides information on required monthly contributions to achieve a pension pot that will support an individual’s desired annual income in retirement.
• Self-employed tax relief calculator – provides an estimated income and national insurance tax bill based on annual gross salary, self-employment income, self-employment expenses and pension contributions.
• Compound returns calculator – with compound returns, it’s less about how much you can afford to invest and more about how long the investment has time to grow. And the effect on a stocks and shares ISA or pension can be powerful. Nutmeg’s compound returns calculator gives an estimate of the benefit.
Matt Gatrell, chief operating officer, Nutmeg, said: “Providing our customers with practical technology that helps them to better understand their own financial position is key to our mission to helping people achieve their financial goals. By augmenting our Nutmeg team with colleagues from Godel, we’ve been able to develop calculators and tools that will help customers keep on top of their everyday finances and their longer-term goals.”
By working with Godel and using data to support the development of Nutmeg’s core infrastructure, the digital wealth manager has launched a suite of new tools and services on both web and mobile, that give consumers more ways to analyse and manage their investments.
Paul Green, chief commercial officer, Godel, said: “Data is the driver behind all decision making and having the ability to ‘read it’ quickly in order to make instant decisions and changes of direction in a market place is the key to being one step ahead. Partnering with a leading UK fintech, like Nutmeg, demonstrates that we can scale up, increase capability and deliver on these kind of data projects successfully with our existing knowledge of fintech intelligence.”