Award presented by Hong Kong Monetary Authority for the Banking, Insurance & Capital Market segment
Awards recognises AGDelta’s application of Artificial Intelligence (AI) to solve financial services industry’s last mile challenges
SINGAPORE 15 March 2018 – AGDelta has won the Gold FinTech Award at the Hong Kong ICT Awards 2018. The awards, presented by Nelson Chow, Chief Fintech Officer, Hong Kong Monetary Authority (HKMA), steered by the Office of the Hong Kong Government Chief Information Officer, and organised by the Hong Kong Institute of Bankers, recognises AGDelta’s excellence and applications for the Banking, Insurance and Capital Markets categories, in particular the Artificial Intelligence (AI) framework built into its Digital Wealth Platform, making financial investments and advice more accessible, safer and smarter. AGDelta won one of three main awards in its category, the Gold FinTech Award (Banking, Insurance and Capital Market stream), and were selected by a 13 judge panel that included leaders from HKMA, EY, PwC, Accenture, and the University of Hong Kong among others.
“AGDelta’s Digital Wealth Platform allows private banks and wealth managers to overcome those last mile challenges that they currently face in getting their products accepted by bank gate-keepers and distributed to front-line bankers” says Andrew Au, CEO of AGDelta, adding “We do this through Case Based Reasoning (CBR) which references past cases, and applies AI to solve situational problems, and create suitable recommendations based on actual data. We are able to share trusted and compliant investment ideas anytime and anywhere, which is then combined with the ability to execute trades and orders quickly and efficiently, and a high-powered compliance monitoring process. The result is financial investment choices that are more accessible, safer, and relevant”.
AGDelta was established in 2008 following the Global Financial Crisis which saw a ballooning of rules and regulations governing the financial services industry. Designed to avoid a repeat of the crash, financial regulations also served to make life difficult for bankers, who have found it increasingly hard to provide personalised financial investment recommendations that were suitable for their clients. AGDelta solves this challenge through its Digital Wealth Platform, which automates the compliance process and incorporates AI to provide recommended products and strategies based on a client’s profile, existing clients that have similar character traits and past cases.
AGDelta went live in Hong Kong in 2011 and has now handled over USD$1.5 trillion worth of financial investment product transactions, and currently has 10,000 users in 15 countries across retail, wealth and private banking client segments.
The Hong Kong ICT Awards aims at recognising and promoting outstanding information and communications technology (ICT) inventions and applications, thereby encouraging innovation and excellence among Hong Kong’s ICT talents and enterprises in their constant pursuit of creative and better solutions to meet business and social needs. AGDelta’s Gold FinTech Award was organised by the Hong Kong Institute of Bankers, and the award stream recognises banking, insurance, and capital market software solutions that bring valuable innovation to increase efficiency when processing compensation payments, managing existing infrastructures or monitoring loans.