Malaysian Fintech Education Startup For Trading Advice
BigBrainBank (BBB) is a fintech start-up founded by Dato ‘Dr Brendon Yong, a trader and entrepreneur with 10 years of experience in the financial education industry.
Most recently, BBB raised 7-figure funding (US $) from angel investors.
In addition to citing his experience as a key factor in increasing investor confidence, Brendon highlighted a global trend.
“It is also good to know that in this era of the COVID-19 pandemic, the attractiveness of financial markets has also increased, with some regions like Africa recording 300% growth and companies recording double-digit growth” , did he declare.
This funding comes just months after the launch of their new app, TheBrain, which digitally helps investors make business decisions using AI.
It’s not exactly a trading platform
The app provides business insights and analytics to help users improve their business results.
However, Brendon clarified that it was not a trading platform; it’s more of an advisor.
“By using these trading strategies, any ordinary user can place their trades on any trading platform of their choice, anywhere in the world,” he said.
The platform has been developed using a wide range of big data, machine learning and AI technologies.
It gathers years of market information and combines it with an optimized deep learning algorithm that generates intelligent business suggestions for users.
Over 1000 expert robot advisors are built into its machine learning capabilities, while its deep learning algorithm has been developed by a global team of experienced programmers and traders.
Brendon also told Vulcan Post that their AI-based technology differs from robo-advisers because the latter uses computers to analyze and then trade automatically.
However, TheBrain doesn’t do the trading for you, just gives you suggestions on where and what to trade.
“The app can analyze market trends, identify market entry and exit points and provide business ideas,” he said.
“They are all tested against at least 3 years of historical data for similar types of events, while also measuring the risk / reward ratio.”
Business advice From data with over 65% accuracy
Bredon said that one of TheBrain’s most notable features is its Business Ideas Guide, a feature that educates users on “what to trade” and “when to trade” based on historical data with an accuracy of over 65%.
Additionally, the BBB app also includes multi-channel analysis on commodities, indices, bonds, and forex, with plans to incorporate longer-term multi-broker accessibility.
“Markets around the world, including Malaysia, have a long history of using expert advisers and trading robots to trade,” he said.
As the app is primarily an educational trading platform, it would be of great benefit to the self-employed users who are active and involved in growing their investments.
Targeting passive investors who prefer to leave their funds alone in fixed deposit investments, for example, would not work.
Artificial intelligence-based algorithms with deep machine learning using big data embedded in TheBrain are a big step forward in the technology. Traders only need to start using TheBrain and experience it in real life scenarios to truly appreciate the incredible possibilities.
Dato ‘Dr Brendon Yong, Founder of BigBrainBank
100,000 subscribers expected by December
Since launching in July 2020, TheBrain has gathered over 60,000 trial users who have signed up through app stores and website.
Although the platform is designed on a freemium basis, the company charges an annual subscription of $ 300 for more advanced features.
Going forward, BBB expects to attract 100,000 more subscribers by the end of the year.
To date, most of the current subscribers are from Malaysia, including 20% from Singapore, Indonesia, Thailand, Taiwan and Dubai, markets which Brendon says offer huge growth opportunities.
Next year, they plan to enter new markets in the Philippines and Hong Kong, and possibly the rest of Asia.
Brendon told us most of the 7-figure investment will go to research and development for TheBrain.
This includes its proprietary technology and ongoing intensive systematic improvements in backend and support resources.
“Money will also be funneled into BigBrainBank’s globalization strategy and market expansion plans, which we will disclose in the next quarter,” he added.
- You can read more about BigBrainBank here.
- You can read more about other startups that have garnered enough investor confidence to raise funds during the pandemic here.
Featured Image Credit: Dato ‘Dr Brendon Yong, Founder of BigBranBank
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