Quantifeed opens office in Australia to meet growing demand for digital wealth advice; taps local tech talent
Quantifeed, Asia Pacific’s leading provider of digital wealth management solutions, has opened an office in Australia to strengthen its strategic relationships as demand for B2B digital advice solutions grows.
Quantifeed’s new Sydney office – staffed with eight employees- will also enable the company to grow its technology offering by leveraging local software engineering talent.
Lars Bischoff will head the technology development team in Australia. He has led software development teams at major Australian financial institutions for over three decades and has been a senior member of the Quantifeed engineering team for the past four years.
Graeme Brant heads Quantifeed’s development of strategic partnerships in Australia. He has a background in financial services spanning more than thirty years and will seek partnership opportunities across the wealth management and institutional investment sectors.
Founded in Hong Kong in 2013, Quantifeed is a B2B provider of wealth management software. Quantifeed’s platform enables banks, brokers, financial planners, and insurance companies to launch digital advice, also known as robo-advice services for their customers.
The company currently works with ten financial institutions across the Asia Pacific region, including many tier-1 consumer banks.
Mr Bischoff says: “Australia has a deep pool of tech engineering talent which brings both experience and innovation to our development team. Recent additions to our team will provide seamless connectivity to our clients’ existing systems and to develop functionality that differentiates Quantifeed. The reliability and performance of our institutional-grade platform is a technological edge that many other fintech companies struggle to match.”
Mr Brant notes: “Following the findings from the Royal Commission, demand for digital advice solutions in Australia is set for rapid expansion. In the coming years, we see a great opportunity for financial institutions to deploy digital wealth solutions in response to growing customer expectations for transparent and reasonably priced wealth management.”
He adds: “Our mission is to help our clients become leaders in digital wealth management and to help their customers live better financial lives.”
Last year Quantifeed raised US$10 million Series B Funding led by Cathay Financial Holdings (TWSE: 2882), Taiwan’s largest financial holding company and one of Quantifeed’s consumer banking clients, with participation from Legg Mason Inc (NYSE: LM), the US-based global investment manager with a large presence in Australia.
Andy Sowerby, Managing Director Legg Mason Australia says: “We continue to be impressed with Quantifeed’s leadership team, product offering and track record across Asia-Pacific. As we develop new partnerships in Australia it is important that they have on the ground client support and we see the opening of the Sydney office as a critical next step. We look forward to working with local financial institutions to help redefine their customer proposition by utilising the award-winning Quantifeed platform.”
Quantifeed currently has operations in Australia, Hong Kong and Singapore.
