(Yicai Global) Oct. 12 -- Intelligent financial service provider PINTEC Group has set up PIVOT Fintech Pte. Ltd. in Singapore to offer digital wealth management and robo-advisory technology services in Southeast Asia.
The new firm will supply solutions powered by machine learning algorithms to financial institutions in the region. PIVOT analyses investors' personal risk-return profile to arrange suitable portfolios, Sina Tech reported today. Automated portfolio balancing is becoming more common in the sector, the report added.
PIVOT will be PINTEC's first joint venture outside of China. Xuanji Intelligent Beijing Technology Co., PINTEC's robo-advisory unit, will supply technology for the fintech firm. Since rolling out the Xuanji system in June last year, the group has helped provide solutions to several mainstream financial institutions.
PINTEC is focused on processing Big Data and developing fintech to offer effective smart financial services and solutions for consumers and businesses.