FinTech startups offer innovative ways to manage assets. The Korean start-up Quantec has developed a Robo-advisor technology that allows you to analyze the value of assets and recommend suitable products.
Quantec The AI-based technology called âQ-Engineâ helps users create a personalized asset management portfolio. The FinTech startup recently attracted a Series B investment of more than $ 6.6 million or 7.5 billion won. Quantec plans to accelerate the implementation of a hyper-personalized financial investment platform and the advancement of investment algorithms.
Advanced algorithms that provide real-time advice
Quantec was founded in 2016 with the aim of developing a âsuper personalized financial investment platform service based on AI algorithm development technologyâ. Quantec uses advanced algorithms and big data to provide clients with automated real-time portfolio design and personalized asset management through investment product recommendations.
Its main technology âQ-Engineâ is a personalized asset management solution based on artificial intelligence (AI). Q-Engine includes propensity analysis, security selection, real-time asset allocation and risk management modules to deliver personalized portfolios in real time. The total amount of customer managed assets (AUM) operated by Quantec’s ‘Q-Engine’ solution in domestic financial institutions reached $ 97 million or 110 billion won in March, reaching $ 88 million or 100 billion of won in the shortest period among Robo-advisors. companies.
Quantec has the largest number of stock-like algorithms in Korea that have passed the Koscom Robo Advisor (RA) benchmark exam hosted by the Financial Services Commission. At the end of March 2021, more than a third of all test bed algorithms available to the sales department consisted of Quantec algorithms. In addition, the technology is highly recognized as it achieved an initial triple-digit efficiency of 102.67% based on one year of operability.
Optimization of investments and future plans
Based on âQ-Engineâ, Quantec is set to launch tactless financial management solutions like âIRAâ and âQ-OSKâ which can be used by financial companies as well as asset management platforms. In addition, he plans to launch âMONEYPOTâ for general customers. In recognition of âQ-Engineâ, the startup was selected for âShinhan Future’s Labâ by Shinhan Financial Group and âDreamplusâ by Hanhwa Life Insurance.
The latest investment for Quantec comes from three companies, including Orbitek and Shinhan Capital, which participated as lead investors. Quantec previously attracted around 3 billion won or $ 2.6 million of Series A investment in 2019 from Industrial Bank of Korea, Wonik Investment Partners, AG Investment and Shinhan Capital, and by Therefore, the cumulative investment exceeded 11 billion won or $ 9.7 million. .
With the latest investment, Quantec plans to accelerate its existing super personalized financial services. Since the Data 3 Law (Personal Information Protection Law, Information Communication Network Law and Credit Information Law) came into force in South Korea in August 2020, personalized financial services using My data has become possible. Quantec develops various personalized financial products based on âQ-Engineâ and recently signed a memorandum of understanding with Kyobo Securities to provide a super personalized data-driven Robo-advisor asset management service.
Lee Sang-geun, CEO of Quantec, said in a press release, âI think this investment attraction is a case where Quantec’s technology and competitiveness in the B2B market has been rated positively. In the management market, we will focus on an ultra-personalized financial investment platform so that everyone can benefit from personalized asset management services without discrimination.
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