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Quantifeed to work in Japan fintech initiative

The Hong Kong-based digital wealth management services firm will be involved in Japan's scheme to cultivate its asset management industry.

Quantifeed will participate, along with 50 foreign asset management firms, in Japan’s Global Financial City: Tokyo Vision, a scheme that aims to attract financial companies from overseas, cultivate Tokyo’s asset management industry and nurture fintech businesses, according to a press statement.

The selected foreign asset management and fintech firms will participate in the scheme, which will end in 2020, according to the statement.

“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,” Alex Ypsilanti, chief executive officer and co-founder of Quantifeed, said in the statement.

Japan is trying to increase financial literacy and encourage a wider view of savings options beyond bank accounts to include 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, according to the statement.

“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,” Ypsilanti said in the statement.

Hong Kong-based Quantifeed provides digital wealth management services for financial institutions by combining software engineering and quantitative finance.

In 2018, it opened a Singapore office in 2018 and earlier this year, a Sydney office.

Part of the Mark Allen Group.