Quantifeed enters the Japanese market as part of the ‘Global Financial City Tokyo’ Vision
Quantifeed, a leading provider of digital wealth management solutions, today announced that it has been invited to enter the Japanese market as part of the Tokyo Metropolitan Government’s ‘Global Financial City: Tokyo’ Vision, which aims to make Tokyo an unrivalled global financial center. Headquartered in Hong Kong, Quantifeed is one of 50 foreign asset management and FinTech firms selected to participate in the scheme over the four years from FY2017 through FY2020.
Quantifeed will look to leverage its unique capabilities in delivering ‘wealthcare’ solutions to service the digital wealth management needs of financial institutions in Japan’s traditionally underserved and underinvested but highly promising mass-affluent market segment.
Commenting on the announcement, Alex Ypsilanti, Chief Executive Officer and Co-founder of Quantifeed, said, “We are delighted to be one of the 50 companies selected to participate in this initiative and look forward to working with financial institutions in the country to help transform them into digital leaders in the fast-changing wealth management landscape. Japan is a very important market, where we see strong impetus among financial institutions to enhance their digital wealth management offerings amid the push to broaden and improve the country’s investment universe and capabilities.”
Quantifeed’s entry into the market comes amid the Japanese government’s efforts to increase financial literacy and encourage a wider view of savings options, not only including bank accounts but also investments. The financial industry is expected to play a key role in transforming the flow of funds in the Japanese financial markets as retail and institutional investors look to allocate towards more sophisticated investments.
“Given Japanese retail investors’ focus on bank deposits, insurance and pension products, and their relatively low allocation to riskier assets such as equities, we see tremendous opportunity for Quantifeed to facilitate a shift to a broader and more diversified range of investment products. Our innovative tech solutions will ensure Japanese customers enjoy highly accessible, simple and convenient platforms to grow their savings,” Alex continued.
First unveiled in 2017, ‘Global Financial City: Tokyo’ Vision is a comprehensive plan that aims to shine the spotlight on Tokyo as the world’s leading global financial city by attracting financial companies from overseas, cultivating Tokyo’s asset management industry, nurturing FinTech businesses, and nurturing financial professionals.
Quantifeed’s entry into the Japanese market reflects the firm’s widening footprint in Asia, marking the fourth such market expansion following the opening of the Singapore office in 2018 and the Sydney office earlier this year. Quantifeed has successfully developed scalable and highly customisable digital wealth and robo-advisory solutions for banks, brokers, insurers and wealth planners across the region. These include DBS’s ‘digiPortfolio’ platform in Singapore, Cathay United Bank’s ‘CathayRobo’ service in Taiwan and Everbright Sun Hung Kai’s ‘EBSHK Direct AI-Portfolio Investing’ system in Hong Kong.