Bocom International partners with FDT-AI to enhance investment advisory services
Under their cooperation agreement, Bocom International and FDT-AI will partner in the fields of artificial intelligence and big data.
New technologies, including artificial intelligence (AI) solutions, continue to make their way into the financial services industry. The latest example comes from Hong Kong, where investment banking expert Bocom International Holdings Company Limited, or BOCOM INTL (HKG:3329), has announced a partnership with FDT AI Limited (FDT-AI), a member of FDT (Financial Data Technologies Limited) Group, committed to building artificial intelligence fintech solutions.
Bocom International says that, pursuant to the Strategic Cooperation Agreement, the two companies will jointly work in the fields of artificial intelligence and big data. The partnership involves the development of the following:
- intelligent personalised investment research services to enable Bocom International to better understand the needs and risk appetites of its clients through analysis and studying their behaviour based on past transaction records and hence to provide more tailor-made investment advisory services to such clients;
- intelligent transaction systems to explore market opportunities for profitability in an intelligent, prompt and accurate manner and assist completion of transactions through making analyses and forecasts on various market patterns and changes;
- intelligent asset management systems to provide optimised financial products matching and recommendation to clients; and
- artificial intelligent customer service systems.
The initial term of the Strategic Cooperation Agreement is two years but the agreement is set to be renewed automatically upon the expiry of the initial term unless a written notice of non-renewal is given by one of the parties.
Banks and online trading companies have been increasingly adopting AI solutions, especially when it comes to investment advisory. In November, for example, Monex-Saison-Vanguard Investment Partners, Inc., a subsidiary of Monex Group, Inc. (TYO:8698), reported about an agreement with The Shizuoka Bank, Ltd. on the introduction of a robo-advisory service. Monex, Inc. has been offering the service above, and now Shizuoka Bank Group agreed on a plan to introduce the service, with the launch scheduled for April 2018. This collaboration is a part of the capital and business alliance between The Shizuoka Bank, Ltd. and Monex Group, Inc. The robo-advisory service with discretional investment management will include asset management and asset control services, as the robo-advisors will be making investment decisions, executing transactions and consulting based on customers’ selection of investment purposes, risk tolerance, capital amount, target amount, etc. In addition, the robots will regularly conduct a follow-up of the investment plan and will reconsider it if necessary.
