Photo : Duck Hee Han, CEO of Quantit
To celebrate the launch of Tech Seoul, we started interviewing CEOs of Korean startups. Today, for the fifth installment, we sat down with Duck Hee Han, CEO of Quantit. This interview was conducted in writing.
Hello, Mr. Duck Hee Han, thank you for your time. We think this interview with Duck Hee Han, CEO of AI fintech startup Quantit, will be very interesting and informative for Tech Seoul readers.
Q. Please introduce your company
Quantit is an AI fintech company that provides wealth management services to the vast public based on a balanced pursuit of value in Quant and IT, utilizing big data and AI. We offer various investment solutions for traditional securities and digital assets through the FINTER platform which is fully automated and is capable of providing customized financial solutions that best fit the client’s investment preferences.
By utilizing AI, Quantit has developed a technology to increase efficiency and performance through the automation of the entire investment process for wealth management. Based on our technical capabilities, we have provided B2B solutions to clients in the securities, asset management and banking sectors. Onwards, we will expand our business scope to B2C solutions through our accumulated experience and capabilities.
Q. What kind of projects are planned for 2023?
By automating investments, the computer will invest on my behalf instead of a person. In order to run an investment service tailored to my investment needs on a computer, it will have to be made into a program. In the near future, the cost and feasibility of producing these programs will become lower and easier accordingly.
To make this a reality, Quantit’s core technology the FINTER platform will continually evolve going forward. The technology will be implemented efficiently and effectively, and like the recent trend of Open API's ChatGPT, we will continually develop the FINTER platform into a one-of-a-kind technology platform.
Q. What's the story behind your company?
For financial investment and wealth management services, professional personnel expenses take the lion’s share from total expenses but we thought that this could be dramatically streamlined using IT and AI. In addition, we believed that this would enable us to provide wealth management services with a higher level of stability and profitability.
The cost structure that relies on financial experts such as analysts, fund managers and traders have relatively high personnel costs and fees. Quantit was established through the idea of systematizing the wealth management experience and our ambition to expand it into a platform business through vast experience of planning and building an automated wealth management process based on data at hedge funds and asset management companies.
Q. What is the meaning of success for you and your company?
We want Quantit to become an innovator in the digital technology based financial investment and wealth management market.
Currently many individual investors have experienced a great loss in their investments and the reputation of financial services have been tarnished. We want to help them accumulate their wealth and make more convenient investments through an automated process by applying technology.
In addition, we hope that Quantit's technology and service capabilities will play a key role in contributing to a healthy financial investment culture by positioning asset income as one of the pillars in addition to wage income through Quantit's services.
Q. What companies are competitors and why are they doing well?
I would like to mention Interactive Brokers as a company we want to resemble rather than a competitor.
Thomas Peterffy, the founder of Interactive Brokers created a company that could quickly determine stock quotes algorithmically by collecting and decoding electromagnetic waves from dedicated terminals connected to communication lines, and then transmitting them to computer programs.
Recently, productivity in finding information or coding programs through OpenAI's ChatGPT technology has become so good that it is difficult to gauge, and we think this is also an innovation brought about by technology.
Quantit aims to make it easy and affordable to enjoy the complex and difficult process of financial investment through Quantit's FINTER platform. Promptly launching our services to the market is not our priority. Rather although the process will be arduous, we aim to become an innovator in the global tech industry that will bring about fundamental changes and provide innovative solutions to our clients.
Q. Where do you see your company in three years?
In the B2B aspect, Quantit is currently receiving technical recognition from clients in various industries. Going forward we will provide B2C services and through this process, we aim to further understand our client’s needs and by doing so, continuously upgrade our technology.
Q. How does your company develop talent?
We believe that every Quantitan can enjoy their work and become highly productive and consistently achieve high-quality results when their career goals and capabilities they want to develop match the tasks they are assigned to as much as possible. Therefore, we organize the company by assigning tasks centered on what each Quantitan wants to do and can do well.
Q. Thank you for your time today. We wish Quantit's endless development. Lastly, please say hello to the readers of Tech Seoul.
Thank you for your interest in the interview article and Quantit. Our company mission is to lower any financial barriers by utilizing technology in order to provide access to our services for everyone. We will fulfill our company mission by providing high-quality, customized services by implementing financial expertise with data & AI and making optimized wealth management services available to everyone. To this end, we will provide a reliable AI financial investment platform and innovate financial investment services by directly connecting the supply and demand of AI investment strategies in a P2P manner.
Thank you for your time today. We wish Quantit's endless development.