The Business Times

China fintech Pintec opens international HQ in Singapore, plans R&D centre too

Tay Peck Gek
Published Wed, May 8, 2019 · 06:46 AM

NASDAQ-LISTED Chinese fintech solutions provider Pintec Technology has opened its international headquarters (HQ) in Singapore to further expand its global business.

It also has plans to set up a research and development centre in the city state to develop cutting-edge technologies for the international markets.

Pintec's president Zhou Jing said at the opening ceremony on Wednesday: "The new international headquarters marks a key milestone of Pintec's international strategy to explore opportunities to replicate our success in China to overseas markets, enabling Pintec to better fulfil the global demand for responsible and sustainable inclusive financing solutions."

The company will leverage its cloud computing, Big Data and artificial intelligence (AI) technologies and scalable SaaS (Software as a Service) model to provide financing solutions, including point-of-sale financing solutions, personal and business instalment loans, as well as wealth management and insurance products and services.

SaaS is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted.

Pintec's Singapore-based venture, Pivot, also launched a fully AI-driven wealth management service known as SquirrelSave at the opening ceremony. It allows real-time on-demand portfolio creation and provides personalised risk management and dynamic asset allocation, using gamification AI to assess underlying pyschometric traits and risk-reward behaviour.

Pivot's chief executive officer, Victor Lye, said: "The service will provide the underserved who have no investment knowledge the access to on-demand global investing. Our ultimate 'health is wealth' vision is to converge data across investments, insurance and healthcare with rewards to drive behaviour change in one application."

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