BEST NEW PRODUCT/PLATFORM
Very few fintech startups find themselves in a position where they can launch a state-of-the-art product with a ‘live’ client. But Bento, the Singapore-based fintech, was able to do just that in 2016.
Last October, Bento brought to market its “bionic advisor” – a HNW-targeted robo advisor tool that provides tailor-made portfolio advice for investors via its algorithm-powered asset allocation models. Its first client was global asset allocation advisor, Willis Towers Watson.
Bento has successfully countered a core challenge faced by many private banks that use robo advisors, particularly when it comes to risk profiling and client suitability. As a “bionic” solution, Bento allows advisors to review inputs generated from proprietary robo algorithms before they are proposed to clients.
In addition, the solution uses tenets of behavioural finance to determine a client’s risk taking ability, ensuring that client risk profiling is consistently accurate.
Bento can be implemented in both the B2B and B2C spaces across four jurisdictions – Singapore, Hong Kong, Dubai and Switzerland.
“Bento is a bionic/robo engine that aids the human advisor. Bento’s intelligent algorithm helps build customised optimal portfolios that encourage long-term investing through market cycles,” says Chandrima Das, co-founder and CEO of Bento. “Low fixed fees without retrocession addresses the inherent conflict of interest between intermediaries and clients.”
Bento is Asian Private Banker’s Best New Product/Platform for 2016.