Quantit: “Combining Finance and IT to Build Simple and Convenient Financial Services”
Quantit: “Combining Finance and IT to Build Simple and Convenient Financial Services”
Posted December. 27, 2024 10:24,
Updated December. 27, 2024 12:12
Quantit is a fintech company that provides an AI-based platform for creating and automatically operating financial investment products. This platform enables financial institutions to easily and quickly develop robo-advisor models and to operate them efficiently.
Currently, Quantit operates an AI-based financial platform for building robo-advisors called “FINTER,” as well as a Software-as-a-Service (SaaS) solution that is implemented as a web service called “FINTER Labs,” and a robo-advisor platform for individual investors named “Olly.”
Quantit is currently accelerating its entry into the global market. Through Shinhan Securities’ Open Innovation program, it has explored growth opportunities in Vietnam, and is preparing to enter the country’s market in collaboration with Shinhan Securities and local companies. By 2025, Quantit is also planning to enter advanced Asian financial markets, including those in Hong Kong and Singapore.
We spoke with Duck-hee Han, CEO of Quantit, about the company’s goals and its flagship product, FINTER, as it aims to enhance the financial accessibility for individual investors by integrating finance and IT.
Duck-hee Han, CEO of Quantit / Source: iT DongA
Providing Efficient Financial Services by Combining Finance and IT
iT DongA: Hello, CEO Han. Could you start by introducing yourself?
Duck-hee Han: Hello, I’m Duck-hee Han of Quantit. After completing my Bachelor’s and Master’s degrees in computer science at KAIST, I began to develop and operate trading systems and data-driven investment portfolio generation systems at companies such as SK Telecom, Koscom, and Samsung Securities. Later, I served as the CTO at CK Goldilocks Asset Management, where I led projects focused on integrating financial engineering with IT technology. I also obtained an investment management license, while gaining experience in asset management. To leverage on these experiences, I founded Quantit in 2019.
iT DongA: What motivated you to establish Quantit?
Duck-hee Han: In the name, "Quant" originates from the term "Quantitative Analyst," referring to data-driven financial engineering. However, traditional financial institutions treat quants as mere tools, rather than making full use of them. I wanted to integrate financial engineering with IT, in order to enhance the financial accessibility for individual investors and provide fairer, more efficient financial services. That’s why I founded Quantit, combining “Quant” and “IT” in the company’s name.
iT DongA: Can you introduce us to Quantit and its core areas of business?
Duck-hee Han: Quantit is a fintech company that develops and supplies platforms using AI technology, to create and automatically operate investment products. We focus on addressing the asymmetric information found in financial markets and the complexity of accessing investments by utilizing AI and big data technology. Our goal is to provide an environment where anyone can easily understand and use a range of investment models.
Rather than directly offering robo-advisor services, we concentrate on developing the frameworks for building robo-advisors, including data collection, investment model validation, and operational methodologies. Simply put, we operate like a factory for creating robo-advisor services.
FINTER Labs: A SaaS solution for designing and automating investment products / Source: Quantit
AI-Based Financial Platforms for B2B and B2C Markets
iT DongA: Please tell us about the platforms that have been developed by Quantit.
Duck-hee Han: We offer the AI-based financial platform FINTER, as well as the web-implemented SaaS solution FINTER Labs, and the robo-advisor platform Olly for individual investors.
FINTER can be used to analyze various structured and unstructured data in real time, to design and automatically operate investment models. We have built a library framework for data collection, processing, model validation, operations, and order executions, all provided in a scalable and stable cloud environment.
By using FINTER, financial institutions can systematically manage data and can quickly develop new investment products. The operations are automated, eliminating the need for human intervention at every step, from the design to the management stage. This automation allows multiple investment products to be operated simultaneously, without an increased number of staff. FINTER also enables the combination of individual products, to design more sophisticated investment solutions.
FINTER Labs, a SaaS solution based on FINTER, provides a user-friendly interface that is tailored for financial institutions. With FINTER Labs, financial institutions can easily create robo-advisor services for their private equity funds, public funds, and advisory wrap accounts.
For individual investors, we launched the robo-advisor platform Olly, allowing them to directly invest in the products developed using FINTER.
Olly: Robo-advisor platform for individual investors / Source: Quantit
iT DongA: Can you tell us about your progress so far?
Duck-hee Han: Since its establishment, Quantit has collaborated with multiple financial institutions to develop AI-based investment solutions, and has been achieving steady results. For example, we provided Samsung Asset Management with an early warning solution using unstructured big data, as well as launching AI portfolio execution services and robo-advisors with KB Securities, and er introduced direct indexing services targeting Korean and US stock markets with KB Asset Management. We have also successfully executed various other projects.
Building on these achievements, we secured a 30 billion KRW Series A investment from Smilegate Holdings in March last year. These funds have strengthened our foundation for developing solutions and expanding our markets.
Goals for Global Expansion and B2C Market Entry
iT DongA: How has SBA supported your growth?
Duck-hee Han: Through SBA’s support, we participated in Shinhan Securities’ Vietnam Open Innovation program. This program allowed us to meet with Vietnamese financial institutions, which in turn confirmed our growth potential in the local market. We analyzed the market demand and technology trends, while refining the directions for applying our solutions.
We are now collaborating with Shinhan Securities to explore further opportunities in Vietnam. We’ve also conducted Proof of Concept (PoC) projects for robo-advisor solutions with local companies. Recently, we signed MOUs with Shinhan Bank’s Vietnam branch and with Vietnamese companies such as DIFISOFT and NaBIESOFT. We expect tangible outcomes to appear soon. In addition, we are preparing to enter the Indonesian market and have been holding discussions with local companies there.
SBA’s support has been instrumental in laying the groundwork for our global market entry and strengthening our strategies for international expansion.
Duck-hee Han explains Quantit and FINTER / Source: iT DongA
iT DongA: What are Quantit’s future goals?
Duck-hee Han: based on the fintech expertise we’ve built in South Korea, we plan to expand into Southeast Asian markets like Vietnam and Indonesia. By 2025, we are aiming to enter advanced financial markets in Asia, such as those in Singapore and Hong Kong, which will position us as a leading fintech company in the region.
Domestically, we are planning to expand into the B2C sector. So far, we’ve focused on B2B, but we intend to extend our reach to include individual investors, by providing them with effective investment solutions. By 2025, we plan to officially launch our B2C services.
Our ultimate goal is to harmoniously combine the value of finance and IT, to make investment products more accessible to individual investors. Through this process, we aim to promote rational investment practices and contribute to the establishment of a sound investment culture.
by Man-hyuk Han (mh@itdonga.com)
Currently, Quantit operates an AI-based financial platform for building robo-advisors called “FINTER,” as well as a Software-as-a-Service (SaaS) solution that is implemented as a web service called “FINTER Labs,” and a robo-advisor platform for individual investors named “Olly.”
Quantit is currently accelerating its entry into the global market. Through Shinhan Securities’ Open Innovation program, it has explored growth opportunities in Vietnam, and is preparing to enter the country’s market in collaboration with Shinhan Securities and local companies. By 2025, Quantit is also planning to enter advanced Asian financial markets, including those in Hong Kong and Singapore.
We spoke with Duck-hee Han, CEO of Quantit, about the company’s goals and its flagship product, FINTER, as it aims to enhance the financial accessibility for individual investors by integrating finance and IT.
Providing Efficient Financial Services by Combining Finance and IT
iT DongA: Hello, CEO Han. Could you start by introducing yourself?
Duck-hee Han: Hello, I’m Duck-hee Han of Quantit. After completing my Bachelor’s and Master’s degrees in computer science at KAIST, I began to develop and operate trading systems and data-driven investment portfolio generation systems at companies such as SK Telecom, Koscom, and Samsung Securities. Later, I served as the CTO at CK Goldilocks Asset Management, where I led projects focused on integrating financial engineering with IT technology. I also obtained an investment management license, while gaining experience in asset management. To leverage on these experiences, I founded Quantit in 2019.
iT DongA: What motivated you to establish Quantit?
Duck-hee Han: In the name, "Quant" originates from the term "Quantitative Analyst," referring to data-driven financial engineering. However, traditional financial institutions treat quants as mere tools, rather than making full use of them. I wanted to integrate financial engineering with IT, in order to enhance the financial accessibility for individual investors and provide fairer, more efficient financial services. That’s why I founded Quantit, combining “Quant” and “IT” in the company’s name.
iT DongA: Can you introduce us to Quantit and its core areas of business?
Duck-hee Han: Quantit is a fintech company that develops and supplies platforms using AI technology, to create and automatically operate investment products. We focus on addressing the asymmetric information found in financial markets and the complexity of accessing investments by utilizing AI and big data technology. Our goal is to provide an environment where anyone can easily understand and use a range of investment models.
Rather than directly offering robo-advisor services, we concentrate on developing the frameworks for building robo-advisors, including data collection, investment model validation, and operational methodologies. Simply put, we operate like a factory for creating robo-advisor services.
AI-Based Financial Platforms for B2B and B2C Markets
iT DongA: Please tell us about the platforms that have been developed by Quantit.
Duck-hee Han: We offer the AI-based financial platform FINTER, as well as the web-implemented SaaS solution FINTER Labs, and the robo-advisor platform Olly for individual investors.
FINTER can be used to analyze various structured and unstructured data in real time, to design and automatically operate investment models. We have built a library framework for data collection, processing, model validation, operations, and order executions, all provided in a scalable and stable cloud environment.
By using FINTER, financial institutions can systematically manage data and can quickly develop new investment products. The operations are automated, eliminating the need for human intervention at every step, from the design to the management stage. This automation allows multiple investment products to be operated simultaneously, without an increased number of staff. FINTER also enables the combination of individual products, to design more sophisticated investment solutions.
FINTER Labs, a SaaS solution based on FINTER, provides a user-friendly interface that is tailored for financial institutions. With FINTER Labs, financial institutions can easily create robo-advisor services for their private equity funds, public funds, and advisory wrap accounts.
For individual investors, we launched the robo-advisor platform Olly, allowing them to directly invest in the products developed using FINTER.
iT DongA: Can you tell us about your progress so far?
Duck-hee Han: Since its establishment, Quantit has collaborated with multiple financial institutions to develop AI-based investment solutions, and has been achieving steady results. For example, we provided Samsung Asset Management with an early warning solution using unstructured big data, as well as launching AI portfolio execution services and robo-advisors with KB Securities, and er introduced direct indexing services targeting Korean and US stock markets with KB Asset Management. We have also successfully executed various other projects.
Building on these achievements, we secured a 30 billion KRW Series A investment from Smilegate Holdings in March last year. These funds have strengthened our foundation for developing solutions and expanding our markets.
Goals for Global Expansion and B2C Market Entry
iT DongA: How has SBA supported your growth?
Duck-hee Han: Through SBA’s support, we participated in Shinhan Securities’ Vietnam Open Innovation program. This program allowed us to meet with Vietnamese financial institutions, which in turn confirmed our growth potential in the local market. We analyzed the market demand and technology trends, while refining the directions for applying our solutions.
We are now collaborating with Shinhan Securities to explore further opportunities in Vietnam. We’ve also conducted Proof of Concept (PoC) projects for robo-advisor solutions with local companies. Recently, we signed MOUs with Shinhan Bank’s Vietnam branch and with Vietnamese companies such as DIFISOFT and NaBIESOFT. We expect tangible outcomes to appear soon. In addition, we are preparing to enter the Indonesian market and have been holding discussions with local companies there.
SBA’s support has been instrumental in laying the groundwork for our global market entry and strengthening our strategies for international expansion.
iT DongA: What are Quantit’s future goals?
Duck-hee Han: based on the fintech expertise we’ve built in South Korea, we plan to expand into Southeast Asian markets like Vietnam and Indonesia. By 2025, we are aiming to enter advanced financial markets in Asia, such as those in Singapore and Hong Kong, which will position us as a leading fintech company in the region.
Domestically, we are planning to expand into the B2C sector. So far, we’ve focused on B2B, but we intend to extend our reach to include individual investors, by providing them with effective investment solutions. By 2025, we plan to officially launch our B2C services.
Our ultimate goal is to harmoniously combine the value of finance and IT, to make investment products more accessible to individual investors. Through this process, we aim to promote rational investment practices and contribute to the establishment of a sound investment culture.
by Man-hyuk Han (mh@itdonga.com)
About Dong-A Ilbo