I sat down with Nick Hungerford, Director and CEO of the recently launched personal finance site Nutmeg
. Nick and his team are attempting to bring the world of finance into the digital age through their new project - which launched last week - after 18 months in the planning. Essentially, Nutmeg allows you to easily manage investment funds, with total transparency online and investements starting at just £1,000. Check out their demo video below for an overview of the service:
I spoke to Nick to find out more about the service and also to get his views on why, up until recently, the finance industry has been slow to adapt to new technologies and the openness of digital media (security issues aside).
Nutmeg stands out as a product as it's pretty unique in the finance industry and it's exciting to see digital technology making the world of investment and fund management ultimately more accessible. Nutmeg is also privileged to count Tim Draper as a backer - who was also an early investor in Skype and Hotmail, showing the potential of the business.