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Danske Bank's Wealth Management Robot Now Has 11,500 Clients

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In just over half a year, Danske Bank A/S has attracted 11,500 clients to an investment service provided by a robot. Denmark’s biggest financial firm now hopes the project will help it expand its wealth management operations.

The robot is called June. It targets retail clients and small businesses that normally wouldn’t have the resources to work out what to do with their surplus cash. And with Denmark holding the world record in negative rates -- the country’s been below zero since 2012, longer than any other place on Earth -- the bank argues it makes sense to redirect deposits now earning nothing.