Pentech Ltd extends cooperation with IBM, adopting IBM Watson to further personalize client interaction
Stockholm, Sweden – February 22nd, 2019. Pentech Ltd is pleased to announce extended collaboration with IBM, by leveraging Watson Assistant backed by both Watson Studio and our cluster on IBM Cloud to further personalize the client experience.
As Pentech performs long-term allocation decisions, it is critical to have a good understanding of each client's risk appetite and tolerance. In our quest to provide the best possible customer experience, we realised that there were significant benefits and a huge opportunity in utilizing IBM Watson as part of the Pentech solution. By leveraging AI, we have designed a unique take on risk profiling where the Pentech algorithm will change the questions asked depending on the client’s answers to previous questions until the risk profile is both comprehensive and accurate. Watson Assistant guides the user through the risk profile process and ensures that only relevant questions are being asked and that there are no contradicting answers given by the client. Furthermore, the client will have the opportunity to decide the level of technicality of the questions and request clarification if needed which allows a faster and more reliable risk assessment. Watson will communicate with pentech via our cluster on IBM cloud to also make sure that the goals being set are achievable with the given risk profile. Any information gathered will be displayed in our environment prior to taking actions, as a last step to ensure everything is correctly entered and allow for amendments. The algorithm will filter out assets which are not compliant with the user’s risk profile or assets which interfere with the user’s ethical standpoints, which makes it easy for investment advisers to be fully compliant to rules and regulations.
For each operation, the system performs billions of calculations in mere seconds which enables real-time interaction for end-users. It can be used to plan liquidity for life-time events and future generations while minimizing human interaction and errors caused by that. We are utilizing the power of modern computing and our setup offers immense scalability and security and can handle millions of users without affecting quality of service.
Unlike generic solutions, Pentech enables an investment strategy that is defined for the entire investment and will deal with all probable future outcomes. As the algorithm has a better understanding of the different possible future scenarios, it will produce a much better allocation optimization and forecast. As a result, Pentech gives a forecast which is representative of the future and aligned with the end-user's risk profile. The algorithm performs a path-dependent optimization which means that when creating an investment strategy, future allocation decisions change depending on market performance. We can then identify potential deficit early on and make the necessary adjustments many years ahead in order to minimize deficit.
We are excited to have partnered with IBM and working with IBM Watson which allows us to really demonstrate the innovation that Pentech is bringing to the global financial market said Fredrik Karlsson, CEO Pentech Ltd. Watson technologies have enabled us to bring forth the next generation customer experience which will be tailored to the clients and lays the groundwork for advancing and encouraging a close future cooperation between the two companies.
The extended collaboration with IBM reflects Pentech´s commitment to offer exceptional customer experience where IBM Watson technologies will play an important role in combination with our cutting-edge technology. This is an exciting addition to our partnership portfolio as we invest and partner with different technology providers, such as Rg19 and Virtusa, to offer a comprehensive next generation wealth management solution.
Pentech Ltd Announces Issuance of Patent for its path-dependent optimization algorithm
Stockholm, Sweden – November 1st, 2018. Pentech Ltd - a fintech company pushing the envelope in wealth management today announced that the U.S. Patent and trademark office (USPTO) has granted it patent no. 10,112,162 entitled “Method and system of a target result optimizing application” two years after submitting the application.
Fredrik Karlsson, founder and CEO of Pentech Ltd, states “We are pleased to have received this patent and that our unique technology and next generation solution has been recognized. This new patent evidences the strength of our investment in Pentech Ltd and we are convinced that we will revolutionize the field of wealth management when it comes to determining risk. It also creates an important and sustainable competitive advantage and enables us to launch our cutting-edge technology globally which is a key component to the growing value of the Company.
This is a significant milestone and we look forward to further executing on our growth strategy, which includes the expansion of our commercial footprint, both organically and through expanded partnerships.”
Fintech company Pentech Ltd signs cooperation agreement with IBM & Rg19load
Stockholm, Sweden – September 1st, 2018. Pentech Ltd was founded in 2016 by the Swede Fredrik Karlsson. Since then, the company and its team, all with extensive experience within the financial sector, engineering and entrepreneurship has been set out to revolutionize the savings & pension markets with its next generation wealth management platform.
Pentech's algorithm solves the problem of how to vary volatility over time for any given investment goal. Given a client’s personal goal and risk profile, it calculates the optimal portfolio based on the predicted market performance & correlations. The algorithm also performs a path-dependent optimization which means that when creating an investment strategy, future allocation decisions change depending on market performance. This gives an investment strategy that is defined for the entire investment period, in all probable scenarios. As a result, Pentech gives a forecast which is more representative of the future and aligned with the end-user's risk profile.
The B2B solution is designed for the mass-market and is applicable to all ages and earnings. It is fully compliant to rules and regulations and can handle millions of users without affecting quality of service.
Fredrik Karlsson states that the vision of the company is to enable our customers’ long-term economic success by delivering highly personalized financial advice through a sophisticated algorithm-based solution. We provide a best-of-breed solution and understand the value of collaboration. We leverage IBM´s cloud platform to bring immense scalability and security together with Rg19load´s ability to provide support, monitoring, service desk, release management and application operations. Pentech is now focused on accelerated growth through marketing investments and expanding partnerships and we look forward to the cooperation with IBM & Rg19load.
Fredrik has 20+ years’ experience in the finance industry including trading, asset management and financial engineering. He has a background at Swedbank & Neonet and was the founder of Touchbet Ltd who manages risk on approximately $4.5 billion annually through an algorithm-based system.
Rg19load is a Private-owned, Swedish company group. It started 2013 with the roots in Industri-Matematik and acquired LAN Assistans in 2014 and Itera Networks in 2015. In 2016, they also acquired load, Itera Analytics and BI Department. The common strategy for Rg19load is leadership in business critical IT through Cloud based, advanced server and storage solutions as well as operational related application and operating solutions. There offices are located in Stockholm and Gothenburg and have a turnover of SEK 300 million. Rg19load has had an extensive partnership with IBM for many years.