5 March 2018 (Singapore) -- Singapore-based artificial intelligence startup PIVOT Fintech (“PIVOT”) has received a Letter of Intent (“LOI”) from a leading Malaysian asset management firm to launch AI-driven investment management services.
“This LOI kicks off detailed discussions about execution strategy, commercial terms and technology deployment in Malaysia. We are glad to find a reputable B2B client who is willing to go beyond talk and be an innovative leader,” said PIVOT CEO Victor Lye, who founded PIVOT Fintech with PINTEC Group (“PINTEC”) in Oct 2017.
Named as one of 27 global fintech unicorns by Visualcapitalist in 2016, PINTEC’s proprietary POLARIS machine learning algorithms drive “dynamic asset allocation” investment decisions using real-time data to generate optimal risk-return predictions. It is a transparent system based on Modern Portfolio Theory (“MPT”) which computes in real-time the combination of asset classes offering the highest expected return matching the investor’s risk profile – all fully AI machine-generated. There are no human pre-made static model portfolios.
“We are not a digital shopfront offering human-assembled investment portfolios. Following an extensive search by our client, we are excited to be recognized as perhaps the only fully end-to-end AI-driven investment platform. The LOI comes after recent due diligence work, including a visit to our AI technology and analytics operations in China,” added Victor Lye.
“Already deployed by several mainstream financial institutions in China, our AI machine learning investment technology has completed a two-year track record of good risk-adjusted performance versus comparable top performing globally diversified funds. In the recent Feb 2018 market volatility, our POLARIS engine remained focused on long-term investment objectives and navigated the market fluctuations calmly without human emotion or bias,” said Zheng Yudong, CEO of POLARIS.
“Unlike other so-called robo-advisors, PIVOT is supported by over 400 engineers and data analysts at PINTEC to deliver a digital investment service that focuses on managing risks before chasing returns. This is how investing should be,” said Victor Lye. “By leveraging on proven financial technology developed, tested and operating in China, Singapore’s PIVOT is a good example of the “One Belt, One Road Initiative”, and the first digital advisory & investment fintech unicorn to expand beyond China.”
“Following our successful debut at the Fintech Abu Dhabi Innovation Challenge in Oct 2017 where we pitched our vision of financial inclusion for the unbanked and underserved, PIVOT continues to champion, enable, and deliver value-added digital investment services throughout Southeast Asia. This LOI is a significant milestone for PIVOT as we continue to seek progressive and innovative B2B partners throughout Southeast Asia,” said Victor Lye.
Singapore-based PIVOT Fintech was launched in Oct 2017 by Victor Lye and the PINTEC Group (“PINTEC”), a leading China fintech unicorn, to offer B2B digital wealth management technology services powered by AI and machine learning throughout Southeast Asia. PIVOT was among 11 fintech startups selected from over 166 applicants across the globe to present its solutions at the Fintech Abu Dhabi Innovation Challenge in Oct 2017.
PIVOT is PINTEC’s first venture outside of China to tap the huge fintech potential in Southeast Asia. Tracing its roots to 2012 when it first began operating in the digital lending space, PINTEC is now a leading end-to-end B2B China fintech solutions provider with AI and data-driven technologies such as digital asset allocation and advisory (POLARIS), digital lending (DUMIAO), online mutual funds (HONGDIAN) and online insurance broking (MYFIN).
Victor Lye CFA CFP®
PIVOT Fintech Pte. Ltd. (201716150D) operates a digital investment management service for end-consumers branded as "SquirrelSave", and holds a Capital Markets Services licence (CMS100806) regulated by the Monetary Authority of Singapore.