In a time where most technology-themed projects in the financial industry are centered around digitalisation, MioTech entered the fintech fray with a differentiated artificial intelligence-powered offering that could drastically shape how private banks interact with and draw value from complex data.

MioTech’s suite of tools aim to enable wealth managers and private bankers to better serve their clients by harnessing millions of data points and translating them into insights, allowing for data-driven decision making that could empower both relationship managers and end-clients with a deeper understanding of their investments. MioTech’s competitive edge also lies in its large Asia-focused database, which brings in local and regional data that are often overlooked by larger technology companies due to the complexity of cleaning, structuring, and labelling databases found in the region.

In 2018, MioTech launched AMI (Advanced Market Intelligence), an AI market data platform that functions as a wealth management team’s “virtual data scientist” through its natural language processing capabilities, providing a stronger understanding of market conditions and pinpointing untapped investment opportunities. MioTech also relaunched PortX, a portfolio management and risk analytics tool, aggregating AMI data to end-clients’ portfolios, and providing wealth managers with a real-time overview of clients’ market holdings to provide better data-driven advice.

As a firm, MioTech ticks all the boxes for a promising fintech venture. The company is led by two Forbes 30 under 30 entrepreneurs, buttressed by three years of technology research and has raised US$8 million in funding led by Beijing-based seed fund ZhenFund and Horizon Ventures, Li Ka-shing’s private investment arm.

And that’s just the beginning. With access to vast data pools – some of them highly region-specific given the firm’s large Asia focus – MioTech’s potential to become an indispensable partner to private banks seeking to unlock dormant potential in Asia’s emerging markets is untold.

MioTech is Asian Private Banker’s Most Promising Fintech Startup for 2018.