Quantifeed, an Asian provider of digital wealth management solutions, has co-developed a new robo-investment service, Robo 360, with China CITIC Bank International (CNCBI). The launch of Robo 360 makes CNCBI the first bank in Hong Kong to offer robo-investment advisory service to customers.
Robo 360 is a goals-based investment advisory service available on CNCBI’s flagship mobile banking platform inMotion. The service allows customers access to eight to 20 portfolios with a minimum initial investment amount as low as US$100. Developed using smart analytics and quantitative research, the service recommends diversified portfolios investing in a variety of asset classes.
Alex Ypsilanti, Chief Executive Officer and co-founder of Quantifeed, says, “We believe this will revolutionize wealth management in Hong Kong by ensuring that professionally managed investment products, previously only available to a limited wealth segment, are now available to retail customers.”
Robo 360’s interface guides customers through their investment journey, from setting goals to achieving them, making it simple to get invested in the diverse portfolios. With a low initial investment amount of US$100 and fees of only 1%, the service is a watershed offering which will make goals-based investment much more accessible and affordable for retail customers in Hong Kong.
The service recommends customers an asset allocation portfolio and carefully curated funds corresponding to their financial goals and risk appetite. Customers can personalize financial goals such as “retirement” or “education”, and invest in diversified portfolios of up to eight funds tailored to their goal. Robo 360 monitors the customer’s progress and provides suggestions should the customer’s projected performance fall short of the goal target.
Robo 360 uses Quantifeed’s robo-technology to support portfolio services such as research, order and trade management, rebalancing and tracking. Quantifeed’s QEngine keeps track of the performance of customers’ investments and advises them on changes to allocations through notifications and alerts, replicating some of the services of a personal financial adviser.
Quantifeed has developed scalable and customizable digital wealth and robo-advisory solutions for banks, brokers, insurers and wealth planners across Asia. These include DBS’s “digiPortfolio” platform in Singapore, Cathay United Bank’s “CathayRobo” service in Taiwan, and Everbright Sun Hung Kai’s “EBSHK Direct AI-Portfolio Investing” system in Hong Kong. The firm has offices in Hong Kong, Singapore and Sydney, and has recently expanded its services into Japan.