The robo-advisor surpassed £3 billion ($3.85 billion) in AUM, and it could use open banking to automate how users fund their investment accounts to further grow its AUM and break even.

Their expectations for digital products—millennials are twice more likely than older investors to consider using a robo-advisor—as well as the growing success of competitors like startup robo-advisors will hold incumbents to a much higher standard on digital user experiences.

Wealthfront debuts customizable portfolios and crypto products to distinguish its offering in the crowded US robo-advisory market and tap into the growing popularity of self-directed and crypto investing.

For example, it could look to add insurance coverage to further sharpen its competitive edge, as Betterment—one of the largest US robo-advisors—did last year.

Report: Hybrid Robo-Advisors.

In January, it closed its UK business-to-consumer (B2C) arm due to high customer acquisition costs, as is the case with many robo-advisors in the crowded market, and transferred UK accounts to the German platform.

Meanwhile, Canada’s biggest robo-advisor, Wealthsimple, has entered the banking space with the rollout of its peer-to-peer payment platform, Wealthsimple Cash. The challengers’ early signs of momentum point to intense competition within the neobanking space. The crowding may also make it harder for Revolut to stand out when it returns.

Wealthsimple, Canada’s largest robo-advisor, took its first stab at banking with Wealthsimple Cash, a peer-to-peer payment platform, and is expected to expand into other areas like checking, insurance, and mortgage products.