(Source: www.fintechasia.net)

Kristal to Compete Directly with Citibank’s Singapore Acquisition API

Kristal.ai Was Earlier Launched Under the ‘Sandbox’ Programme by MAS

 

SINGAPORE – The Monetary Authority of Singapore (MAS) today announced Kristal.ai as one the top finalists for the Global FinTech Awards. The FinTech Awards and the Global Hackcelerator Programme are among the highlights of this year’s Singapore FinTech Festival, to be held from November 13th-17th, 2017.

The award recognises innovative and disruptive FinTech solutions implemented by FinTech startups, companies, and institutions. From a submission of 580 applications from 40 countries, the panel has chosen the Top 30 finalists, details of which can be found here. The finalists will further be evaluated on the basis of impact, practicality, interoperability, and uniqueness and creativity. The selection process will be led by PwC.

As part of the selection process, Kristal will directly compete with the likes of Citibank’s Singapore Acquisition API, and United Overseas Bank’s Telco Insights POC.

“The nomination is a reflection of the hard work that has been put in by the team in the last one and a half years. We continue relentlessly in our aim to nurture upcoming investment talent, and level the playing field for investors looking to get access to customized and suitable investment solutions. We are excited to bring forward our AI-based advisory platform to satisfy this very need and showcase our technological and financial expertise to a wider audience.” said Asheesh Chanda, Founder, Kristal.ai.

Founded in January 2016, Kristal.ai is an online asset management platform giving investors access to independent advisers, and portfolio managers. Similar to an independent financial adviser, investors can pick and choose from the various strategies, called ‘Kristals’, of ex-traders and fund managers. Investors get real-time advise on which Kristal they should choose and they can invest in the strategy directly through the platform without any manual intervention.

With a minimum investment amount of $1000, the discretionary portfolios are managed by Kristal.ai’s team of Quant Analysts, who curate the ideas provided by the independent advisors. After the machine learning algorithm is developed, it will recommend the strategies to the analysts, who will then implement it in the client portfolios.

Kristal.ai is currently operational in India, Hong Kong, and Singapore.

In August, Kristal was launched in Singapore under the Sandbox programme by MAS. It was the first ‘Asset Manager’ to be launched under the programme. Introduced in November 2016, Sandbox is a testing ground for new technology, enabling startups with the power of ‘going live’.

The company also completed a pre-accelerator programme backed by DBS last year, and is currently a part of Cyberport’s Incubation Programme this year.

 

About Kristal.ai

Founded by Asheesh Chanda in January 2016, Kristal.ai is a digital wealth management platform, committed in its mission to provide transparent and smart portfolio management for investors under its care. It leverages its AI-based digital wealth management platform, and service an entire spectrum of customers – from mass affluent clients who do not get service that they want today from private banks, and sophisticated funds and family wealth offices.

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