12 Oct '17, 8am

China's PINTEC launches Singapore robo advisor backed by insurer FWD

HONG KONG (Reuters) - Financial technology company PINTEC Group said on Thursday it launched a venture in Singapore, its first outside China, betting on booming demand for automated investment advice in fast-growing Southeast Asian countries. Asian insurer FWD Group, controlled by Hong Kong tycoon Richard Li, will partly own the business, called PIVOT Fintech Pte Ltd, with unnamed angel investors, PINTEC said in a statement without disclosing further details. PINTEC, whose Chinese businesses include an online insurance broker, a consumer lending app, a robo advisor and an online fund distribution company, plans to offer its wealth management and robo-advisory technology to financial institutions in Southeast Asia, it added. The firm’s technology already runs the robo services for Chinese companies including Minsheng Securities and Anbang Insurance Group. “ASEAN is a fast g...

Full article: http://www.reuters.com/article/us-china-pintec-southeast-...

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