Chinese fintech platform PINTEC has launched PIVOT Fintech in Singapore, the company’s first venture outside China.
PIVOT’s launch is assisted by life insurance company FWD Group and other angel investors.
Based in Singapore, PIVOT will provide digital wealth management services to clients across Southeast Asia.
PIVOT’s platform works on a technology underpinned by artificial intelligence and machine learning techniques.
It will offer PINTEC’s proprietary dynamic, real-time wealth management and robo-advisory technology services to fintech firms and institutional investors.
Since its launch in 2012, PINTEC has launched various AI-based digital analytic services including robo advisory platform (POLARIS), digital lending (DUMIAO), online mutual funds (HONGDIAN), and online insurance broking (MYFIN).
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PINTEC Group CEO William Wei said: “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.”
PIVOT co-founder and CEO Victor Lye said: “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.”
Last year PINTEC has launched XUANJI, a robo-advisory platform to offer investment advice to Chinese investors.