Qraft has developed Hana Bank's asset management service HAI Robo which combines sophisticated AI algorithms and the convenience of online. In the first 9 months of launch, the service has surpassed 40,000 subscribers and AUM has reached $500m. Qraft has become a major player in the Robo advisor market and this is the key example of fostering and joint venture through Hana Bank's '1Q Agile Lab'. In addition, other domestic banks have also launched a start-up accelerating program and are working to promptly respond to a rapidly changing financial environment by building strong partnerships and business models for mutual growth.
“We chose the US market to prove our technology.” said Hyung-sik Kim, CEO of Qraft Technologies in a recent interview to answer why AI-driven ETFs are listed in the United States market instead of domestic market. Qraft has completed all preparations and filed all relevant documents in the middle of last month. Given the two-month review period, Qraft's two AI ETFs using deep-learning technologies are expected to be listed on the New York Stock Exchange (NYSE) during April and May. He also said, "It will not the end with the listing of ETFs, but we will continue to build related line-ups. We will also focus on expanding our stride in non-financial AI solutions and consulting areas."
Last year, Korean ETF market renewed its highest level with its strengths in low-cost and relatively stable performance in the market selloffs. Qraft Technologies, Seoul-based FinTech startup, is a leader in robo-advisor industry using its own deep-learning technology to provide investment solutions that are automatically managed through technology without human intervention. Qraft Technologies is in the process of entering the global market as it is preparing to launch AI-driven ETFs in the United States.