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Finantix designs AI software for private banks in Asia

Finantix designs AI software for private banks in Asia

Finantix has launched artificial intelligence tools for wealth managers, private banks and robo advisors in Singapore and Hong Kong.

The product - Finantix AI Gears for Wealth- will target lead generation, automated client profiling, portfolio and financial planning optimisation, suitability and cross border rule enforcement, next best action determination, news tagging, and content personalisation for financial institutions.

Finantix is currently working with two private banks in the region under a white labelling agreement.

The software is built on machine learning, natural language processing and automated reasoning, and is based on open application programing interface, allowing it to work with legacy systems of wealth managers in the region.

The AI components include KYC screening, analysing a client's financial circumstances and relations and highlighting news and research reports relevant to the portfolio exposure of a specific client.

Alessandro Tonchia, director and co-founder of Finantix said, ‘With the new offering, Finantix brings artificial intelligence to a domain specific context that is easy to implement regardless of the existing platform, allowing firms to dramatically enhance adviser productivity, quality and compliance of advice, client intelligence and personalisation of their services.'

The California-based company expanded into Singapore in 2015, and is currently working with DBS Bank and Manulife on their insurance partnership.

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