Malabar AI – a fully integrated platform
Robo-advisors, built on artificial intelligence (AI) are designed to evolve as they learn from their users. In an exclusive interview with Hubbis, Donald Soo of Malabar Investments discusses the platform they’re developing and why it’s the next-generation solution the market needs.
Existing robo-advisory platforms are in demand because of cost advantages, efficiency, ease of use and accessibility, among other things – but most are only capable of advising clients about investment and insurance products. The next generation, Donald Soo believes, will offer more extensive client support. His product, Malabar AI, is designed to provide clients with the whole gamut of financial advisory services spanning investments, mortgages, tax advice, all under one roof.
Conceptualised in 2002, Soo decided to build Malabar AI because he believes the market has an appetite for the product and the right kind of talent and capabilities are now available. Malabar AI is primarily an advice engine integrated with an open architecture that helps clients review products and solutions suggested by the engine.
Given its advanced capabilities, Soo anticipates that Malabar AI will not only be a valuable partner to banks and insurers, but will also be adopted by clients to provide independent, self-directed advice.
Currently, Malabar AI is running pilot projects in four countries: Hong Kong, Singapore, Australia, and New Zealand. It’s also garnered interest from potential partners in Malaysia, the United Kingdom, Germany, and Austria. Soo expects to be officially rolling out the platform in Hong Kong, Singapore, and Australia within 12 months.
What sets Malabar AI apart is that it collects information about client needs and expectations and can provide holistic advice on what should be done to meet immediate and future goals in under 15 minutes.
As the regulations, products, and requirements differ so widely between countries, Malabar AI remains a regional product to cater to the geographies where it is deployed.
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