PIVOT Fintech Pte Ltd, a digital wealth management technology services venture has been granted a Capital Markets Services (CMS) license by the Monetary Authority of Singapore (MAS).
PIVOT’s CMS license, which comes after the recently published MAS Guidelines on the Provision of Digital Advisory Services, allows the company to offer AI-driven investment services directly to retail clients.
“This significant Singapore milestone marks the start of PIVOT’s ambition to deliver innovative wealth management solutions in Southeast Asia,” said PIVOT CEO Victor Lye, who created PIVOT’s proprietary gamified risk profiling analytics to drive financial inclusiveness.
PIVOT’s core shareholder, PINTEC, has technology and expertise in delivering AI-driven global asset allocation and money management services to financial institutions in China. By integrating PIVOT’s proprietary risk profiling analytics and client onboarding portal with PINTEC’s AI technology, PIVOT has developed its own end-to-end digital investment management service powered by machine learning AI.
PIVOT’s consumer brand is “SquirrelSave”, which designs asset allocation solutions using AI-driven real-time model portfolios comprised of Exchange-Traded Funds (“ETFs”) and 24×7 analytics, always managed according to the specified risk profile of each investor.
“Machine 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,” said Victor Lye. “PIVOT’s entry into the consumer space with this CMS license supports our vision of financial inclusiveness through constructive disruption and supports Singapore’s vision to be a fintech innovation hub.”
Strategically, PIVOT will bridge PINTEC’s extensive AI-driven experience in China and Singapore’s fintech development. A near-term goal is for PIVOT to train a local AI talent pool in collaboration with Singapore educational institutions.
PINTEC’s AI-driven asset allocation system is branded “POLARIS” 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.