Hong Kong’s First Retail Bank Based Robo Advisor launched

Hong Kong-based fintech company AQUMON partnered with CMB Wing Lung Bank to launch Wealth-Tech, Hong Kong’s first retail bank based robo advisory on December 3 (2019). It allows investors access to an automated mutual fund portfolio solution.


By combining investment algorithms with a scalable technology platform, AQUMON’s robo advisor is able to make sophisticated investment advice available to the bank’s customer, at a fraction of the cost. The first phase of the project was made public in May 2019, and the second phase will be launched in early 2020.


Clients can find the robo advisory offering, Wealth-Tech, through CMB Wing Lung Bank’s mobile app. After completing a risk assessment, and answering investment preference questions, clients are automatically recommended a tailor-made portfolio investing into approximately 8-12 mutual funds.



AQUMON is developed by Magnum Research Limited, an SFC-licensed company holding Type 1(dealing in securities) and Type 4 (advising on securities) licenses. This financial technology company was originally incubated at the Hong Kong University of Science and Technology. Early investors included the Alibaba Entrepreneurs Fund, affiliates of BOC International Holdings Limited (BOCI), and the Hong Kong University of Science and Technology. After more than three years of development, AQUMON has partnered with more than 60 financial institutions in Hong Kong and beyond, including various large banks, brokerages, insurance, and wealth management companies.


In March this year ( 2019), AQUMON announced it had accepted entry into the Cyberport Incubation Programme. Kelvin Lei CEO, AQUMON stated, “This is a further recognition that there is truly a demand for robo advisors in Hong Kong’s and Asia’s financial landscape and we are excited about the new opportunities this partnership with Cyberport will bring.”


Kelvin Lei CEO, AQUMON

CMB Wing Lung Bank (formerly known as Wing Lung Bank), founded in 1933, is among the oldest local Chinese banks in Hong Kong. In 2008, CMB Wing Lung Bank was acquired by China Merchants Bank Co., Limited (China Merchants Bank). As at 30th June 2019, its consolidated total assets stood at over HK$300 billion.


Robo advisory solutions are regarded by the financial industry as one of the main pillars in the new era of digitalization. Kelvin Lei, CEO of AQUMON, noted that: “Automation is an important direction for the transformation of the wealth management industry. Large financial institutions such as CMB Wing Lung Bank have advantages in terms of customer reach and resources. AQUMON, in partnership with these financial institutions, is looking to take the lead in terms of industry transformation.”


AQUMON aims to use its algorithm, data and machine learning approach along with their intelligent digital wealth management platform to bring professional wealth management services to every individual regardless of age or net worth.


NB: Investment in securities involves risk. No guarantee as to the performance of AQUMON is being made and the above is for information only.


Source: AQUMON and Magnum Research Limited