FinTech companies are getting more advanced with AI and robotics technology utilization. Now, investors can rely on technology for smart investment decisions. Seoul-based FinTech startup Quantit has launched a crypto-focused robo-advisor called “RABIT,” which stands for Robo Advisor for BITcoin.
RABIT uses AI to provide a variety of products and strategies to reduce the volatility of digital assets in the highly volatile crypto market. Anyone aged 19 or older can sign up and use it in Korean or English.
The FinTech company received the Best Disruptive Solution honour at the 7th Technology Award 2021 organized by the global financial magazine Asian Private Banker on March 31st,2022, along with Hong Kong Wealthtech company Privé Technologies. Launched in 2015, the Asian Private Banker Technology Awards celebrate the innovations and achievements of Asia’s rapidly growing financial technology sector.
The Awards, open to all tech vendors that provide solutions for private bankers, institutions with private banking facilities, and wealth managers in Asia, are given to vendors for their foresight, design, and execution.
No asset transfers are required for RABIT
Existing robo-advisors usually require customers to transfer their assets to the robo-advisors “as-deposited assets” before management by the platform. In response to the concern that it is challenging to secure reliability in the entrusting company’s infrastructure, RABIT does not require the transfer of assets to RABIT but only links the API key of the exchange wallet to operate it directly from the Binance exchange wallet, which is currently associated with Binance.
Trading bots are provided only for major crypto assets such as Bitcoin, Ethereum, and USDT. Funding U (Funding U) is an arbitrage bot that gradually accumulates profits regardless of price fluctuations of crypto assets. Funding U combines professional management technologies used in the financial market that utilize real-time hedging of virtual asset price fluctuations, which are operated based on Quantit’s FINTER platform technology.
Quantit’s FINTER platform is a self-developed asset management solution based on statistical analysis and artificial intelligence technology. It consists of various financial big data and structuring processes, portfolio strategy development and testing, and algorithm trading modules, calculating and providing the optimal portfolio that increases risk-to-return, and operating the entire process automatically without human intervention.
RABIT’s fees are charged only when profits are made, and the high water-mark method is applied only when profits are made above the previous profits.
Quantit & Privé Technologies JV is expanding globally
Quantit is recognized as one of the leading fintech companies in Korea, producing and supplying market-leading (based on return performance verified by the Korean government) diverse models that satisfy the needs of financial investment companies and their B2C clients. Since many financial investment companies are having difficulty building a financial AI model on their own, Quantit supplies platform solutions to help customers develop their own or run purchased quant models. With the mission of “Bring Augmented AI Forces in Financial Investment,” Quantit works closely with its parent company “VAIV Company (KOSDAQ Listed).” which is one of the leading AI companies in Korea.
In May 2021, Quantit signed an exclusive partnership with Privé Technologies to advance into the Korean market and global cooperation. Privé’s wealth tech platform provides total solutions for asset management companies. The joint venture has attracted various of the world’s largest banks, more than 60 financial institutions.