Overview of Transaction

• On October 6, 2017, Moneyfarm announced it has acquired the technology behind Ernest
• Ernest is a personal banker chatbot, powered by Artificial Intelligence that combines natural language processing technology with machine learning, Ernest aims to help individuals manage their money better
• Headquartered in London, U.K., Moneyfarm is a digital wealth manager operating in both Italy and the U.K.
• Moneyfarm will work to combine Ernest’s technology with its existing services

Significance of Transaction

• Ernest’s technology has the ability to tap into daily transactional behavior of customers, which will prove critical as Moneyfarm works to provide more personalized financial advice
• Ultimately, the acquisition will enhance Moneyfarm’s product, improve underlying algorithms and better assist customers through the entire wealth lifecycle

FT Partners' Role

• FT Partners served as exclusive strategic and financial advisor to Moneyfarm
• This transaction underscores FT Partners' deep domain expertise and successful track record in the WealthTech space