Danish lender Saxo Bank has joined forces with asset manager BlackRock to launch a digital investment solution for retail investors comprising iShares ETFs.

Dubbed SaxoSelect, the new solution will serve long term investors with three portfolios having various risk levels including defensive, moderate, aggressive.

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The fully digital and automated portfolio management service will allow the bank’s clients to invest in pre-selected strategies in a real-time, fully transparent environment directly on their Saxo platform.

The portfolios will be managed by the bank by leveraging BlackRock’s research data, and will invest in iShares ETFs.

Available initially in euro and sterling currencies, the portfolios will have a all-inclusive service fee of 0.9% per annum.

SaxoSelect investment portfolios comprising BlackRock exchange traded funds (ETFs) will be rolled out in selected European markets including Denmark, Finland, Italy, Norway, Netherlands and Sweden in the first quarter of 2016.

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Saxo Bank CEO Kim Fournais said: "This initiative is underpinned by the belief that technology will profoundly change the asset management industry. Access to technology, demand for transparency, and focus on performance will change the way individuals manage their savings."