Chinese fintech company PINTEC Group announced on Wednesday the launch of its new digital wealth management technology services, PIVOT. The company revealed that PIVOT is its first venture outside of China and is in part backed by pan-Asian life insurer, FWD Group and angel investors.
“We are pleased to collaborate with an innovative and entrepreneurial financial group like FWD. Through PIVOT, we hope to both tap the huge fintech potential in Southeast Asia while also supporting the call of the Chinese government’s one Belt, One Road Initiative.”
PINTEC noted that PIVOT will operate in Southeast Asia to offer PINTEC’s proprietary dynamic, real-time wealth management and robo-advisory technology to financial institutions. Zheng Yudong, CEO of PINTEC’s POLARIS unit, also shared:
“With over 400 technical engineers, data analysts and staff, PINTEC will support PIVOT throughout Southeast Asia. We want to offer a truly intelligent platform that mitigates risk by decreasing human interference and level the playing field for customers.”
Victor Lye, Co-Founder & CEO of PIVOT, then added:
“PIVOT is an exciting opportunity for customers in the region. I will leverage my 25-year experience in investments, insurance and healthcare to deliver better value and transparency with our digital wealth management engine. PIVOT is off to a good start, being among 11 finalists selected from over 160 applicants from around the world to showcase our solutions at the FinTech Abu Dhabi Innovation Challenge in October 2017.”
PINTEC launched its digital wealth-management and robo-advisory unit (POLARIS) in June 2016, and has successfully implemented the AI and machine learning platform for mainstream financial institutions in China