Institutional brokerage company BOCI Securities has entered into an agreement with AQUMON to develop a robo advisory platform in Hong Kong.
Hong Kong-based robo advisory solution provider AQUMON said that robo advisers have gained traction in recent times especially amid the COVID-19 crisis that has upended traditional businesses.
The new proposition will evaluate the risk profiles, investment backgrounds, as well as client tastes. It will offer portfolio recommendations based on these factors.
The platform will enable clients to gain access to various asset classes through diversified portfolios.
The platform will be embedded in the BOCI platform, enabling clients to subscribe, monitor, and rebalance their investment portfolios.
Commenting on BOCI, AQUMON said: “BOCI has a leading position in the Hong Kong capital market in terms of overall competitiveness, thanks to its comprehensive cross-border investment banking services platform that ranks at the forefront among Chinese investment banks, and to its internationalised investment banking framework that upholds best practices in the industry.”
Hong Kong’s leading robo advisory solution provider AQUMON was incubated at the Hong Kong University of Science and Technology.
The firm has tie-ups with over 60 financial institutions including CMB Wing Lung Bank, ChinaAMC, and Guangzhou Rural Commercial Bank.
Early in 2020, AQUMON joined forces with a Hong Kong-based insurer to digitise its investment-linked offering.
The competition in the Asian robo-advisory space has intensified recently with the foray of banks like OCBC and DBS.
In 2018, OCBC launched its robo-investment service OCBC RoboInvest.
Besides, DBS launched hybrid human-robo investment offering digiportfolio for retail investors a year earlier.
Meanwhile, Singaporean robo advisory firm Smartly recently stopped operations.