Digital & Technology

Pivot Fintech licensed to offer digital wealth management in Singapore

Singapore-based digital wealth management technology service provider Pivot Fintech has announced the company has been granted a Capital Markets Services (CMS) license by the MAS.

Pivot Fintech can now offer its artificial intelligence-driven wealth management services platform in Singapore.

Pivot Fintech is a subsidiary of Pintec, a leading fintech player in China. It's the first time that a Chinese robo-advisory company has developed its business outside of China.

Pivot Fintech is PINTEC's first venture outside of China, and is in part backed by pan-Asian life insurer FWD Group and angel investors. "We are pleased to collaborate with an innovative and entrepreneurial financial group like FWD," said William Wei, CEO of PINTEC Group. "Through PIVOT, we hope to both tap the huge fintech potential in Southeast Asia, while also supporting the call of the Chinese government's One Belt, One Road Initiative."

"PIVOT is an exciting opportunity for customers in the region," said Victor Lye, Co-Founder & CEO of PIVOT. "I will leverage my 25-year experience in investments, insurance and healthcare to deliver better value and transparency with our digital wealth management engine."

Pivot Fintech’s digital platform takes advantage of predictive machine learning techniques to design, track, and balance investment portfolios according to an individual’s risk tolerance. The software promises to “replaces human bias” when it comes to making investment decisions and to level the playing field between retail investors and bigger institutions.