China CITI Bank International launches its robo-advisory offering in Hong Kong which was co-developed with fintech firm Quantifeed.
The new goals-based advisory offering, «Robo 360» is a goal-based advisory service made available through CITIC’s mobile banking app, «inMotion». Investors will be able to access 8-20 portfolios with a minimum investment amount as low as $100 and fees of just 1 percent. The portfolios are constructed with up to eight funds each by leveraging smart analytics and quantitative research capabilities.
The launch makes CITIC the first bank in Hong Kong to offer a goals-based robo-investment advisory solution.
«We believe this will revolutionize 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,» said Alex Ypsilanti, CEO and co-founder of Quantifeed.
Quantifeed's Asia Success Stories
Quantifeed has successfully developed scalable and highly customizable 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.
