The Financial Supervisory Commission (FSC) has approved SinoPac Securities Co’s (永豐金證券) application to launch a sandbox experiment that utilizes robot-advisers to provide dollar-cost averaging investment programs, the commission said on Tuesday.
Taiwan’s ninth fintech sandbox experiment would begin within three months, FSC Department of Planning Director-General Lin Chih-hsien (林志憲) said.
SinoPac Securities would collaborate with Alpha Fintech Co’s (阿爾發金融科技) securities investment consulting unit, which offers automated, algorithm-driven financial planning services, the commission said.
Photo: Tsai Chang-sheng, Taipei Times
In the experiment, the robot-advisory firm would assess investors’ risk appetite through an online survey and provide customized investment advice, Lin said.
For example, an algorithm would suggest exchange-traded funds (ETFs) that match the investor’s preferences, and SinoPac Securities would offer the ETF to the investor, Lin said.
If an investor shows a low risk appetite and the algorithm labels them “conservative,” they would be offered different financial products than an “aggressive” investor, Lin said.
SinoPac Securities’ clients would exclusively be offered to take part in the experiment, he said.
The experiment is limited to 5,700 participants, and each participant can invest up to NT$250,000 (US$8,847) in algorithm-suggested products, Lin said.
The total investment volume could not exceed NT$200 million, he added.
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