VANCOUVER, British Columbia - Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO), a financial technology company, has announced the introduction of Moka.ai, an updated version of its investment application aimed at assisting Canadians in their journey towards financial independence. The app incorporates behavioral science into its design to promote effective wealth-building habits.
Moka.ai features an innovative financial freedom calculator, which is patent-pending, to help users set and manage their investment goals. It also offers a flat-fee monthly subscription model, set at $7.00, challenging the traditional fee structures in the wealth management industry.
The app is tailored to invest primarily in the S&P 500, which has historically averaged a 10% annual return since 1957. Mogo’s approach aligns with strategies endorsed by notable investors such as Warren Buffett and Charlie Munger, emphasizing long-term growth.
Additionally, Moka.ai emphasizes sustainability by contributing to the reforestation of Canadian forests affected by wildfires, with over 300,000 trees planted through the app's community efforts.
Mogo’s CEO, David Feller, highlighted the app's role in addressing the gap between actual savings and the perceived retirement needs among Canadians. He emphasized that Moka.ai is designed to simplify the investment process and put users on a realistic path to accruing significant wealth.
The app's future roadmap includes the integration of artificial intelligence to enhance user experience and investment outcomes. Moka.ai is available for download on the App Store and Google (NASDAQ:GOOGL) Play.
Mogo Inc., headquartered in Vancouver, Canada, serves over 2 million members and holds a significant stake in Canada's leading Crypto Exchange WonderFi. The company's diverse offerings include commission-free stock trading and a low-cost payments platform through its subsidiary, Carta Worldwide.
This news release contains forward-looking statements regarding the potential investment returns of the Moka.ai app and the application of AI in its operations. These projections are not guaranteed and are subject to various risks and uncertainties.
The information in this article is based on a press release statement from Mogo Inc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.