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Mirae Asset partners with AI-based fintech Qraft Technologies

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By Anna J. Park
  • Published KST
  • Updated KST

Mirae Asset Securities Digital Division Head Ahn In-sung, left, and Qraft Technologies CEO Kim Hyung-sik stand next to each other at a signing ceremony for their strategic partnership held at the headquarters of Mirae Asset Financial Group in Seoul, Monday. Courtesy of Mirae Asset Securities

By Anna J. Park

Mirae Asset Securities formed a strategic partnership with fintech firm Qraft Technologies earlier this week, planning joint research on AI-based financial models and cooperation in bringing about personalized asset management services.

Specifically, the two companies will join hands in the areas of AI-based financial investment algorithm research and AI-powered online asset allocation services for the next generation.

“While customer demand and interest in online asset management services have been increasing gradually, Qraft Technologies has strengths in asset management using AI technology,” an official from Mirae Asset Securities said.

“By signing the MOU, the two companies confirmed the synergy effect from the mutual cooperation to better respond to platform competition, as Mirae Asset continues to build close cooperative relationships with excellent fintech firms.”

Founded in 2016, Qraft Technologies currently operates four types of ETFs, including the Qraft AI-Enhanced U.S. Large Cap ETF and the Qraft AI-Enhanced U.S. Large Cap Momentum ETF, which are actively managed by deep learning AI technology.

The firm has also been providing AI-based tech solutions and deep learning algorithm technologies to various local financial companies. Earlier this year, the firm also attracted a 170 billion won investment ($140 million) from SoftBank.

“With the signing of the MOU, Qraft hopes to cooperate closely with Mirae Asset Securities in presenting AI technologies to enhancing customer experience and efficiency in asset management,” Qraft Technologies CEO Kim Hyung-sik said, adding the firm's AI technology could contribute to expanding the brokerage company's digital services.