Robo-Advisory firm Bambu sees Huge Potential for FinTech in Asia

 港銀近年致力發展金融科技(FinTech)應用,與渣打銀行合作、新加坡初創企業Bambu,看好亞洲帶領全球的金融科技發展潛力,目標未來3至5年內成為區內領先的智能財富管理公司。

去年2月成立的Bambu,主力研發智能軟件及投資方案以提高財富管理效率。公司上月於金融科技活動示範其中一項軟件功能,客戶只需輸入儲蓄用途及目標金額,軟件即可計算出在通脹等因素影響下,達成目標所需的時間及計劃。

亞洲平台僅逾10家 機遇大

本身從事金融業的創辦人及行政總裁Ned Phillips接受訪問時稱,選擇亞洲作為目標市場,主要是看好區內對智能財富管理的需求,「智能財富管理平台(robo-advisor)在美國及歐洲可能有100、50家公司,但在亞洲只有10至20家,反映龐大的機遇。」

中國向來是亞洲的主要市場,Bambu現階段卻未涉足內地。他續指,當地市場競爭激烈,作為外資企業不會貿然進入中國市場,必須覓得合適的夥伴,首選內地金融機構。

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English translation

Robo-Advisory firm Bambu sees Huge Potential for FinTech in Asia

Hong Kong banks have been strongly pushing for the implementation of FinTech in recent years. Bambu, a Singapore startup working with Standard Chartered Bank, sees huge potential for Asia to lead the global advancement of FinTech. They aim to become the region’s leading Robo-Advisory firm within the next 3 to 5 years. 

Founded in February last year, Bambu has been developing intelligent software and investment solutions to increase the efficiency of wealth management. The company demonstrated one of its software features at a FinTech event last month, where a client is only required to input the purpose of saving and initial investment sum to begin. The software then calculates the time period and financial plan required to achieve the client’s goals while adjusting for external factors such as inflation. 

Huge Opportunity in Asia with only 10+ Platforms Available

As someone with experience in the financial industry, Founder and CEO Ned Phillips said in the interview that the main reason for choosing Asia as the target market is the huge demand for Robo-Advisors in the region. While there are over 100 Robo-Advisory firms in the US and over 50 in Europe, there are only between 10 to 20 such firms in Asia, reflecting a huge market opportunity. 

Although China has always been the primary market in Asia, Bambu has yet to step into mainland China at its current stage. He explained that as a foreign firm, they will not enter the Chinese market hastily due to fierce competition in the local finance industry, choosing instead to select a mainland financial institution to work with as a partner. 

“Starting a company is never easy, but now is the best time to do it.” Phillips explained that it isn’t easy to convince financial institutions to take up FinTech solutions. However, more banks all over the world are beginning to search for new technologies and hence are more open to trying out new solutions. This global push has no doubt been beneficial to Bambu. 

Receiving Enquires from Banks nearly Everyday

In its 2 rounds of funding, Bambu has raised approximately USD$1.3 million in investments and hopes to raise a new round of USD$3.5 million soon. He revealed that the market demand for the latest round of funding has been intense, having reached the full target sum in a short period of time. Currently, they are receiving business enquiries from different banks nearly every day. The current situation is exceptionally optimistic for the company with an estimated revenue growth of 280% this year, reaching a total of USD$1.5 million.