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Digital & Technology

Quantifeed and China CITIC Bank International co-develop robo-investment service

Quantifeed and China CITIC Bank have co-developed a new robo-investment service, Robo 360, making China CITIC Bank the first Hong Kong Bank to offer robo-investment advisory service to customers.

Robo 360 is a goals-based investment advisory service available on China CITIC Bank (CNCBI)’s 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; it was 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, 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.”

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 robo-advisory 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, according to a press release by the firm.