- Providing investors easy access to tailored diversified multi-asset portfolios with low minimum investment
Hong Kong, 28 November 2019 – Quantifeed, Asia’s leading 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 an easy-to-use 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 USD 100, in just a few taps. Developed using smart analytics and quantitative research, the service recommends well-diversified portfolios investing in a variety of asset classes.
Alex Ypsilanti, Chief Executive Officer and Co-founder of Quantifeed, said, “We are delighted to be providing China CITIC Bank International with the technology behind Robo 360. We believe this will revolutionise 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 will give CNCBI’s customers a simple and engaging way to manage their wealth any time and on any device.”
CNCBI is pleased to be the first bank in Hong Kong to deliver a goals-based robo-investment advisory service to customers. Robo 360’s easy-to-use interface guides customers seamlessly through their investment journey, from setting goals to achieving them, making it simple to get sensibly invested in the diverse portfolios. With a low initial investment amount of USD 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 personalise financial goals such as ‘retirement’ or ‘education’, and invest in diversified portfolios of up to eight funds tailored to their goal – all within a few taps. Robo 360 monitors the customer’s progress and provides suitable suggestions should the customer’s projected performance fall short of the goal target.
Robo 360 uses Quantifeed’s award-winning 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 personal financial adviser.
Quantifeed has successfully developed scalable and highly customisable digital wealth and roboadvisory 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 a strong footprint in the region, with offices in Hong Kong, Singapore and Sydney, and has recently expanded its services into Japan.