Kwantek Signs MOU with Optus Asset Management to Strengthen Competitiveness of Non-Face-to-Face Investment Platform

[Asia Economy Reporter Minji Lee] Robo-advisor fintech company ‘Quantec’ announced on the 10th that it has signed a strategic business agreement (MOU) with ‘Optus Asset Management’ to actively cooperate in strengthening the competitiveness of non-face-to-face financial investment platform services.

Moon Byung-ro, CEO of Optus Asset Management and a professor in the Department of Computer Science at Seoul National University, is regarded as an authority in algorithmic trading in Korea. Having authored several investment guides and columns such as ‘Metric Studio,’ he is recognized for his expertise in algorithm optimization.

The main points of this business agreement are ▲ registering and selling Optus Asset Management’s advisory algorithms on Quantec’s platform service ▲ applying Optus Asset Management’s optimization models to Quantec’s strategies and services ▲ mutual cooperation to activate the platform, including building a cooperative network.

Both companies plan to actively seek synergy by combining their respective strengths through this agreement. A representative example is integrating Optus Asset Management’s algorithmic trading know-how and product strategies into Quantec’s non-face-to-face platform service. This will provide Quantec with a stepping stone to leap forward as a financial investment platform.

Quantec CEO Lee Sang-geun said, “Our goal is to create an asset management market centered on consumers rather than sellers, so that anyone can receive asset management without discrimination,” adding, “Quantec aims to secure a competitive edge in service by offering a non-face-to-face financial investment platform where customers can directly compare and select products to create new value. We will continue to evolve into a financial investment platform through ongoing collaboration with leading domestic asset management firms.”

Moon Byung-ro, CEO of Optus Asset Management, said, “The perception of algorithmic investment, which was once a barren land in the domestic market, has steadily improved over the past decade, and recently, due to the AI revolution and non-face-to-face environment, the shift from human-centered investment to machine-centered investment is accelerating,” adding, “The optimization technology of Quantec, which aims for the non-face-to-face platformization of financial investment, and Optus Asset Management are expected to create a good synergy effect.”

Meanwhile, Quantec recorded a 284.37% return over two years as of the third quarter of 2021 in the Koscom robo-advisor testbed hosted by the Financial Services Commission, and occupied 8 out of the top 10 algorithms over one year, achieving overwhelming results. Riding on these achievements, Quantec is collaborating with several traditional financial conglomerates, and a B2C service developed in cooperation with KB Kookmin Card is scheduled to launch by the end of the year.