The Series B+ round will enable Quantifeed’s continued growth in its existing markets, namely Australia, Hong Kong, Japan, Singapore, Taiwan and Thailand.

It will also accelerate Quantifeed’s expansion into new markets, including China’s Greater Bay Area and Malaysia. Quantifeed’s target markets are experiencing increasing demand for investment advice led by a fast-growing affluent class and ageing population. The investment from Franklin Templeton will allow Quantifeed to build engineering and delivery teams in its key growth markets.

Alex Ypsilanti, Chief Executive Officer and Co-founder of Quantifeed, said, “We are delighted to receive the backing of Franklin Templeton, further strengthening the partnership we had embarked on with Legg Mason. Despite the tough economic backdrop created by COVID-19, this is a vote of confidence in our vision, product proposition and track record of delivery. The capital will allow us to service an increasing number of institutions that are transforming themselves into providers of wealthcare – the financial wellness of an individual.

“We will continue to strengthen our presence in Australia by offering digital wealth solutions to the Australian financial services sector.”

Harshendu Bindal, Head of Digital Strategy and Wealth Management at Franklin Templeton, commented, “Franklin Templeton’s Series B+ investment underscores our confidence in Quantifeed. Their platform powers digital wealth offerings for financial institutions across Asia. They are an important part of the ecosystem in the region, where demand for wealth advice and retirement solutions is increasing. It underlines our continuous commitment to helping financial institutions digitize their client experience and advisor processes.”

Quantifeed is an established provider of fund and ETF portfolio order and trade management systems with straight-through-processing capabilities. Its on-premise and cloud solutions power the discretionary portfolio management platforms of some of Asia’s largest financial institutions.

The capital injection will accelerate Quantifeed’s product development. The company plans to enhance its platform capabilities with new machine learning technology and financial needs analysis. The money will also be used to fund the development of new solutions, such as platforms that make planning and advisory services more efficient, flexible and scalable. Other plans include the roll out of retirement solutions, as the region’s new affluent class begin to shift from a life of work to a future beyond working life.

The post Quantifeed secures Series B+ funding round led by Franklin Templeton appeared first on AdviserVoice.

Alex Ypsilanti, Chief Executive Officer and Co-founder of Quantifeed, said: “Hongkongers clearly indicated their demand for wealth management services. It is time for financial institutions to meet this need by digitising their wealth offering for easier access. This further validates a future where financial management is effortless – where savings and investments are automated, personalised and available to everyone.”

Wealthcare is the new healthcare

Wealthcare has emerged as a top life planning priority for the majority of Hongkongers. Seven out of 10 respondents believe that investments are essential for life planning and reaching financial goals.

But only 29% of those surveyed are satisfied with their current financial status. While people see a need to invest, four out of five respondents indicated no clear financial goals, investing simply to make more money. Buying a property is, surprisingly, no longer top of mind for Hongkongers.

Quantifeed found that Hongkongers are generally dependent on a single investment product, with 88% of respondents investing heavily in Hong Kong stocks. However, they are also open to exploring global opportunities, with around 70% showing interest in investing their money abroad. This presents an opportunity for financial institutions to give investors guidance on globally diversified investments that can help meet their financial goals.

Fundamental elements for wealthcare: Accessibility, affordability, and transparency

Over half of the respondents do not receive wealth management advice from financial advisors, citing wealth management services as unaffordable. There are also concerns among surveyed investors that advisors may have hidden agendas, and neither review portfolios nor provide tailored advice to meet their needs on a regular basis.

While surveyed Hongkongers also rely heavily on advice from the media (61%), and family and friends (50%), they lack the knowledge to piece together advice from multiple channels into a single action. Despite misconceptions on financial advisors, 83% of respondents expressed a desire for personalised investment advice and wealth management services – a gap for financial institutions to fill by offering always-on guidance to their customers.

COVID-19 as a catalyst for wealthcare

The pandemic has reshuffled investment expectations and behavior. Professional advice has become more important than ever as investors seek help in navigating an ever-changing environment. During COVID-19, Hongkongers expressed frustration about their lack of access to advisors — with most having to make decisions without being able to consult with wealth management professionals.

Trust and personalization paramount for financial institutions in the digital future

This new release is issued by Quantifeed HK Limited Units A-E, 12/F, Golden Sun Centre 59-67 Bonham Strand West Sheung Wan, Hong Kong Website: www.quantifeed.com While incumbent financial institutions, such as retail banks, are trusted by the majority of Hongkongers, respondents are open to being serviced by virtual banks and other independent direct-to-consumer fintech startups. With a clear desire for personalised financial solutions, three out of four respondents expressed interest in using robo technology to achieve their goals.

Although there is a progressive attitude towards digital adoption, the report strongly indicates that Hongkongers are looking for a digital-first, rather than a digital-only experience. Gen Zs – as digital natives – paint an interesting picture: 85% are keen on new forms of investment, yet 25% of them still visit a counter at a bank branch.

It is therefore high tech, complemented by high touch that will form the backbone of the next generation of wealthcare.

The survey, commissioned by Quantifeed, was conducted in July 2020 by Rakuten Insights. Twelve hundred Hong Kong residents, aged 18 and above, were surveyed to gauge their attitudes towards wealth management.

The post COVID-19: A Wake-Up Call for Financial Wellness appeared first on AdviserVoice.

The investment is led by Cathay Financial Holdings (TWSE: 2882), Taiwan’s largest financial holding company, with participation from Legg Mason Inc (NYSE: LM), the US-based global asset manager.

The Series B round will enable Quantifeed to fuel its growth in Australia and Asia-Pacific. The investment will also accelerate research and development in areas such as behavioural analytics and data science to improve customer engagement.

“We welcome the commitment of Cathay Financial Holdings and Legg Mason to our growth and we are confident that they will bring enormous value to our business,” said Alex Ypsilanti, CEO and Co-Founder of Quantifeed. “We are bringing about wealthcare, a service aimed at helping everyone make the most of their savings to achieve their financial goals. Our mission is to enable financial institutions transform themselves into providers of this service on a large scale. The additional funding allows us to fulfil this mission.”

Quantifeed provides B2B robo-advice services to nine financial institutions across Asia-Pacific, including Cathay United Bank, a wholly owned subsidiary of Cathay Financial Holdings.

“We have developed a strong relationship by Quantifeed to build our digital wealth management platform,” said David Sun, Senior Executive Vice President for Cathay Financial Holdings. “We’ve experienced first-hand the company’s relentless focus on servicing its clients and its ability to deploy cutting-edge technology to create digital wealth solutions. This round gave us the opportunity to continue executing on our strategy of collaborating with and investing in technology firms poised to transform financial services.”

Quantifeed currently has operations in Australia, Hong Kong, Taiwan, Malaysia, and Singapore. Demand for digital wealth management solutions is accelerating rapidly in Asia- Pacific as financial institutions respond to customer expectations for more personalised solutions and engaging relationships.

Commenting on the announcement, Andy Sowerby, Head of Legg Mason Australia, said: “Legg Mason’s investment in Quantifeed reflects our ongoing commitment to support our global intermediary clients in the digital transformation of their business. We have been impressed with Quantifeed’s leadership team, product offering and track record in Asia-Pacific. We think Quantifeed is well-positioned to help customers achieve their financial goals and financial advisors strengthen the customer experience.”

The post Quantifeed raises US$10 million Series B funding appeared first on AdviserVoice.