{"id":3436,"date":"2019-04-27T17:51:25","date_gmt":"2019-04-27T17:51:25","guid":{"rendered":"http:\/\/madhousereport.com\/?p=3436"},"modified":"2019-04-27T17:51:25","modified_gmt":"2019-04-27T17:51:25","slug":"pivot-fintech-gets-capital-markets-services-license-monetary-authority-singapore","status":"publish","type":"post","link":"https:\/\/theblogonline.com\/?p=3436","title":{"rendered":"PIVOT Fintech Gets Capital Markets Services License From Monetary Authority Of Singapore"},"content":{"rendered":"

License to allow launch of direct-to-consumer, AI-driven wealth management services<\/i><\/b><\/span><\/p>\n

SINGAPORE–(BUSINESS WIRE<\/span><\/a><\/span>\/AETOSWire<\/span><\/a><\/span>)– PIVOT Fintech Pte. Ltd. (\u201cPIVOT\u201d), the digital wealth management technology services venture backed by Pintec Technology Holdings Ltd. (\u201cPINTEC\u201d; NASDAQ: PT) and FWD Group announced today that it has been granted a Capital Markets Services (\u201cCMS\u201d) license by the Monetary Authority of Singapore (MAS).<\/span><\/p>\n

PIVOT\u2019s CMS license, which comes after the recently published MAS Guidelines on the Provision of Digital Advisory Services on 8 October 2018, allows the company to offer AI-driven investment services directly to retail clients.<\/span><\/p>\n

\u201cThis significant Singapore milestone marks the start of PIVOT\u2019s ambition to deliver innovative wealth management solutions in Southeast Asia,\u201d said PIVOT CEO Victor Lye, who created PIVOT\u2019s proprietary gamified risk profiling analytics to drive financial inclusiveness.<\/span><\/p>\n

PIVOT\u2019s core shareholder, PINTEC, has proven technology and expertise in delivering AI-driven global asset allocation and money management services to financial institutions in the highly competitive China market. By integrating PIVOT\u2019s proprietary risk profiling analytics and client onboarding portal with PINTEC\u2019s AI technology, PIVOT has developed its own end-to-end digital investment management service powered by machine learning AI.<\/span><\/p>\n

PIVOT\u2019s consumer brand is \u201cSquirrelSave\u201d, which designs asset allocation solutions using AI-driven real-time model portfolios comprised of Exchange-Traded Funds (\u201cETFs\u201d) and 24×7 analytics, always managed according to the specified risk profile of each investor.<\/span><\/p>\n

\u201cMachine learning AI can track and predict real-time investment risk-return outcomes more efficiently than humans. SquirrelSave can address the risk management needs of existing investors and the unmet needs of the unserved and underserved, with professionalism, integrity, value, objectivity and transparency,\u201d said Victor Lye. \u201cPIVOT\u2019s entry into the consumer space with this CMS license supports our vision of financial inclusiveness through constructive disruption and supports Singapore\u2019s vision to be a fintech innovation hub.\u201d<\/span><\/p>\n

Strategically, PIVOT will bridge PINTEC\u2019s extensive AI-driven experience in China and Singapore\u2019s fintech development. A near-term goal is for PIVOT to train a local AI talent pool in collaboration with Singapore educational institutions.<\/span><\/p>\n

PINTEC\u2019s AI-driven asset allocation system is branded \u201cPOLARIS\u201d in China. Launched in June 2016, POLARIS has successfully implemented machine learning AI platforms for mainstream Chinese financial institutions such as Minsheng Securities, Bank of Zhengzhou, and Guoyuan Securities.<\/span><\/p>\n

\u201cAt PINTEC, we are very pleased to support PIVOT\u2019s growth in Singapore with our asset allocation algorithms that have passed rigorous testing and regulatory compliance standards to meet the growing demand for low cost, transparent and risk-managed long-term investment portfolios,\u201d said Zheng Yudong, CEO of PINTEC\u2019s Wealth Management Business.<\/span><\/p>\n

\u201cAs a core shareholder, PINTEC is excited at the opportunities offered by the CMS license in Singapore and will continue to support PIVOT in its mission to offer digital wealth management technology services powered by artificial intelligence and machine learning throughout Southeast Asia.\u201d<\/span><\/p>\n

About PIVOT Fintech<\/b><\/span><\/p>\n

Singapore-based PIVOT Fintech was launched in Oct 2017 by corporate entrepreneur Victor Lye and the PINTEC Group (www.pintec.com<\/span><\/a>) to offer B2B & B2C digital wealth management technology services throughout Southeast Asia powered by AI and machine learning. PIVOT is PINTEC\u2019s first venture outside of China and is also backed by the FWD Group which owns a pan-Asia life insurer, and angel investors.<\/span><\/p>\n

For more information, please visit\u00a0www.pivotfintech.com<\/span><\/a><\/span><\/p>\n

About PINTEC<\/b><\/span><\/p>\n

PINTEC is a leading independent technology platform enabling financial services in China. By connecting business and financial partners on its open platform, PINTEC enables them to provide financial services to end users efficiently and effectively. The Company offers its partners a full suite of customized solutions, ranging from point-of-sale financing, personal installment loans, business installment loans, to wealth management and insurance products. Leveraging its scalable and reliable technology infrastructure, PINTEC serves a wide range of industry verticals covering online travel, e-commerce, telecommunications, online education, SaaS platforms, financial technology, internet search, and online classifieds and listings; as well as various types of financial partners including banks, brokers, insurance companies, investment funds and trusts, consumer finance companies, peer-to-peer platforms and other similar institutions.<\/span><\/p>\n

For more information, please visit\u00a0www.pintec.com<\/span><\/a>.<\/span><\/p>\n

View source version on businesswire.com:\u00a0https:\/\/www.businesswire.com\/news\/home\/20190324005011\/en\/<\/span><\/a><\/span><\/p>\n

*Source: AETOSWire<\/span><\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

License to allow launch of direct-to-consumer, AI-driven wealth management services SINGAPORE–(BUSINESS WIRE\/AETOSWire)– PIVOT Fintech Pte. Ltd. (\u201cPIVOT\u201d), the digital wealth management technology services venture backed by Pintec Technology Holdings Ltd. (\u201cPINTEC\u201d; NASDAQ: PT) and FWD Group announced today that it has been granted a Capital Markets Services (\u201cCMS\u201d) license by the Monetary Authority of Singapore […]<\/p>\n","protected":false},"author":1,"featured_media":3437,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[2345,2346,2344],"class_list":["post-3436","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro","tag-capital-markets-services-license","tag-monetary-authority-of-singapore","tag-pivot-fintech"],"_links":{"self":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/3436"}],"collection":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3436"}],"version-history":[{"count":1,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/3436\/revisions"}],"predecessor-version":[{"id":3438,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/3436\/revisions\/3438"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/media\/3437"}],"wp:attachment":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}