A fintech from China announced the launch of digital wealth management technology services in Southeast Asia via a new Singapore venture.
Known as «Pivot» this will will be Pintec's first operation outside of China, and is in part backed by pan-Asian life insurer FWD Group and angel investors.
Powered by artificial intelligence and machine learning Pivot will operate in Southeast Asia to offer Pintec's proprietary dynamic, real-time wealth management and robo-advisory technology to financial institutions.
Human Support
Among the fintech's tools is a solution it calls «dynamic asset allocation» powered by machine learning algorithms. As investment markets change, the model portfolios are machine-determined each new day without human intervention.
Pintec launched its digital wealth-management and robo-advisory unit Polaris in June 2016, and has implemented the artificial intelligence (AI) and machine learning platform for mainstream financial institutions in China, such as Minsheng Securities and Anbang Insurance Group.
According to Zheng Yudong, chief executive officer of Pintec's Polaris unit, the company will have over 400 technical engineers, data analysts and staff to support Pivot throughout Southeast Asia.
