Cyberport houses nearly 60 WealthTech startups offering diverse solutions, helping to promote inclusive wealth management and improve industry efficiency

HONG KONG SAR – Media
OutReach – 25 January 2022 – According
to a Securities and Futures Commission (SFC) report, Hong Kong’s asset and
wealth management business recorded an increase in assets under management
(AUM) of over 20 percent year-on-year, to HK$34.9 trillion, as of end 2020. As
one of the region’s most robust wealth management hubs, Hong Kong holds considerable
potential for WealthTech development. As the largest FinTech community in Hong
Kong, Cyberport houses nearly 400 FinTech start-ups, including around 60
WealthTech companies which offer diverse technology solutions covering B2B, B2C
and B2B2C businesses. These solutions both address individual users’ varying
financial needs and assist financial institutions in improving the efficiency
of their wealth management services.

Eric Chan, Chief Public Mission Officer of Cyberport, said that WealthTech can lower the cost of wealth management services and enhance the efficiency of product development and operation, in turn lowering the threshold for customers to enjoy personalized investment products and wealth management advice.

Eric Chan, Chief Public Mission
Officer of Cyberport, said, “WealthTech has become
one of Fintech’s fastest-growing areas in recent years. According to a market
report, the global wealth management
software market is anticipated to more than double from nearly $2.5 billion in
2019 to $5.8 billion by the end of 2025. WealthTech can lower the cost of
wealth management services and enhance the efficiency of product development
and operation, in turn lowering the threshold for customers to enjoy
personalized investment products and wealth management advice. In addition to
catering for all investment stages, WealthTech can help financial institutions
scale up their customer base. The Cyberport community features a number of
outstanding WealthTech start-ups, and I believe that the cross-border Wealth
Management Connect will open up further market opportunities for them.”

From financial
management to investment appreciation

Wealth
management begins with saving and managing consumption. Cyberport incubatee StevTech has launched a Cantonese intelligent wealth management
program called ‘Sui Gor’. Users can record their bills through a Cantonese voice-recognition
bookkeeper, while the system analyzes their spending habits using artificial
intelligence (AI). The system can propose the most suitable expenditure according
to the user’s financial goals in order to help develop saving habits.

When sufficient
savings have been accumulated, it is time to add value to wealth. WealthTech can
provide investment advice and related products. Cyberport incubatee
AQUMON uses
algorithms and AI to assist financial institutions as well as individual users
who may lack the time or financial knowledge to choose more diversified
investment products at a lower cost, so as to easily carry out appropriate
asset allocation. AQUMON’s main
investment portfolio currently includes exchange-traded fund (ETF) portfolios
and themed stock portfolios, and it boasts 100,000 registered APP users. StashAway, a digital wealth manager from Singapore, provides users with automated
and personalized ETF global asset allocation portfolio management according to each
user’s risk tolerance level and financial goals, while adjusting the portfolio in
accordance with market conditions at the user’s acceptable risk level. Stashaway
entered Hong Kong last April and settled at Cyberport, and now has more than
US$1 billion in assets under management.

In
addition, Cyberport incubatee LORA
Technologies has developed
an AI engine that can analyze market data such as stock charts and financial
statements, helping to recommend suitable stocks for investors according to the
user’s investment preferences while automatically performing stock transactions
at opportune times. For investors who want to choose their own stocks, iDDY, another Cyberport incubatee, has used AI and machine
learning to develop an intelligent investment assistant. When the user sends a
voice command, the investment assistant program will search a large amount of
financial information while simultaneously analyzing it, sending relevant
information to the user for reference in real time.

Expanding
investment channels for professional investors

In addition to retail investors,
the Cyberport Community’s products and platforms meet the needs of professional
investors. ALTIVE
has launched fund products investing in private equity, private debt and real
estate, offering alternative investment opportunities for professional
investors. Moonfare
provides a technology platform that enables high-net-worth individuals and
family offices to invest at a lower threshold in top ranked private equity
funds selected by the team. It also cooperates with private banks and other
wealth management institutions, allowing relevant institutions to offer customers
opportunities to invest in the top ranked private equity funds.

Multiple start-ups within the
Cyberport community also provide WealthTech solutions. If members of the press
wish to learn more about them, please get in touch with Cyberport’s Communications and Stakeholder Engagement
team.