Future of financial services

Squirrel's mortgage bot Alan

Squirrel Mortgages new mortgage bot, which is a New Zealand first, provides answers to the questions would-be buyers have previously tackled via a mortgage calculator.

Roboadvisers are set to be part of the country’s financial services future and Squirrel’s mortgage bot (Alan) is a forerunner of things to come.

But Squirrel CEO John Bolton says the bot isn’t a roboadvisor, rather he is a fun mortgage calculator with personality.

“The difference with Alan is he’s a bit smarter and more interactive than plugging numbers into a one-dimensional calculator.”