Best Robo Advisor Solution
With robo advisors tipped to manage some US$500 billion worth of assets in Asia by the year of 2021, according to the International Data Corporation, the lure of automated and digitally-disseminated advice for banks is indisputable.
In 2017, the sector’s continued emergence was one of the year’s most defining trends, underscoring just how crucial it is for Asia’s private banks to realise a credible business template for implementing automated advice.
However, if there is a lack of standout cases in the region, Quantifeed in 2017 showed the way forward, clinching no less than four deals with major banking groups, across Hong Kong, Malaysia, Singapore and Taiwan, bringing its total number of bank partners to ten.
The latest deals demonstrate the recognition that Quantifeed has garnered in the market and the efficacy of the firm’s early work in building a robust institutional-grade platform and launching robo advisory solutions to financial institutions throughout the region.
In Taiwan, Quantifeed’s work for Cathay United Bank (Cathay) involved configuring a platform that enables the bank’s customers to buy goal-based and tactical investment portfolios linked to funds. The experience proved engaging for customers, and involved automating the bank’s ‘know your client’ processes. Available on web and mobile, customers are able to build a wealth plan to achieve their financial goals. Algorithms are utilised to make investment portfolio recommendations suitable to the risk profile and financial objectives of each customer. Adjustments to the portfolio such as changing the underlying funds, may be made by the customer or their advisor.
Customers are able to monitor their progress towards their goals and manage their investment through their digital device of choice. Notifications are sent to customers when the portfolio management engine determines the portfolio requires rebalancing.
This level of wealth management automation enables banks to reach a broader audience of customers and enables advisors to increase efficiency and focus on other value-adding activities. Customers receive a new level of transparency in their investment experience, they can view details of their portfolios at any time and track where fees are paid.
Behind Quantifeed’s user-friendly solution sits a team that possess extensive financial services industry, quantitative and technology experience, ensuring that the solution presents a relevant, fully integrated and delightful wealth management experience.
Quantifieed is Asian Private Banker‘s Best Robo Advisor Solution for 2017.
“Quantifeed is redefining what it means to put the customer first in financial services. At its simplest, we call this revolution ‘wealthcare’. Just as healthcare has evolved to focus on wellness, prevention and the patient first and foremost, so must financial services. Wealthcare is the evolution of wealth management from serving the few to the many, from standardised products to individual solutions and from limited contact points to unrestricted multi-channel availability. Quantifeed brings together decades of software engineering and quantitative finance to help financial institutions lead the transition to wealthcare. We are working with some of the largest wealth management organisations in Asia to digitise their services for thousands of customers. Our goal is to make access to wealth management advice painless, transparent and dare we say it—delightful.”