Published by Hubbis – 9th March 2017 OCBC Bank has become the first bank in South-east Asia to pilot a robo-advisory service. Investors will be able to invest in diversified portfolios of stocks and ETFs, using automated, algorithm-based portfolio management advice. The platform offers a guided investment journey with regular rebalancing of investments portfolios – without having to interact with a relationship manager. The pilot will initially involve accredited investors and will later be extended to non-accredited investors. The robo-advisory service is being provided in partnership with WeInvest, a Singapore-based fintech firm. Under the pilot scheme, select participants will be able to access the online platform and invest into two categories of investment portfolios, starting from as low as SGD3,000. The first category consists of five portfolios made up of ETFs and equities listed on the Dow Jones and Nasdaq. To use the platform, customers initially answer a questionnaire to determine their risk profile and investment goals, enabling one of five portfolios to be suggested to them. Thereafter, the platform will automatically monitor the chosen portfolio. If economic and market conditions change and the performance of the portfolio diverges from the investment goals, investors will be alerted via SMS or email with proposals to rebalance their portfolios. The second category is designed to appeal to more savvy investors and offers them the opportunity to invest in a thematic basket of stocks listed on the Dow Jones and Nasdaq. This basket consists of stocks of technology, fast-moving-consumer-goods companies or leading Dow Jones companies.
Singapore's OCBC bank has partnered with local fintech firm WeInvest to offer what it has said is southeast Asia's first robo-advisory service. The digital product will be initially available to accredited investors before being opened up to retail customers. In a statement on its website, the company said: "The RoboAdvisor platform allows customers and institutions in Singapore to access financial advice from an experienced team of advisors who are experts at their respective fields. Portfolios will consist of exchange-traded funds and Dow Jones and Nasdaq-listed equities.