“Equipping Investors with A.I tools”
: RHB Investment Bank in talks with MyFinB for A.I solutions
Kuala Lumpur, 27th November 2018 – RHB Investment Bank are bringing the power of A.I to their platform investors through MyFinB. AI uses computer algorithms to replicate the human ability to learn and make predictions. AI software needs computing power to find patterns and make inferences from large quantities of data. The two most common types of AI tools are called “machine learning” and “deep learning networks.”
Customers of the Investment bank are looking for customised recommendations that can help them decide where they should invest their money, and RHB IB has a platform for online trading for their customers, providing live charting tools, 10 year historical data for advanced investors, and a fully web based application that gives them access to companies listed on BURSA Malaysia as well as internationally.
While “buy low sell high’ is the mantra of every trader –that’s easier said than done. Traders are easily affected emotionally, for instance, when prices are going up, traders may become irrational hoping the price will continue climbing. When prices fall, fear may set in triggering panic selling. The data crunching of MyFinB’s P.A.M (Portfolio Analysis Management) A.I advises investors about these pitfalls and potentials, using its predictive and prescriptive analytics. PAM addresses the issues of information overload, speculative trading, and access to independent analysis faced by investors.
“What if retail investors are given a smart platform that could provide independent, objective and timely analysis of stocks’ financial health and valuation?” asks M. Nazri, CEO of MyFinB, “Imagine the returns and education that it can provide for an evolving generation of investors”.
There has been a trend in the financial sector, with many institutions using similar technology to predict future stock trends with each A.I having its own unique design and purpose, and able to be tailored to specific clientele as in the case of RHBIB’s customers.