Online financial planning software provider Decimal has entered into a robo-advice contract with Mercer Australia.

Under the agreement, Decimal will provide consumer driven or on-line robo-advice to Mercer, which used to previously offer an adviser driven robo-advice.

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The new contract will results in an extension of the services that Decimal will provide to Mercer.

The value of funds advised using Decimal’s consumer driven robo-advice technology has exceeded $1.2bn since its inception in June 2015.

Decimal CEO Nic Pollock said: The new contract with Mercer is a fantastic validation of Decimal’s consumer driven robo-advice technology.

"We believe that Decimal is currently the only company with the capability to provide consumer driven robo-advise to customers quickly and efficiently."

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