QARA Featured in Gartner’s 2019 Cool Vendors Report
QARA Featured in Gartner’s 2019 Cool Vendors Report
  • Yeon Chul-hyun Reporter
  • 승인 2019.10.26 23:32
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KOSHO Selected As an Emerging AI-based Service


Gartner, a global research and advisory firm, recently named fintech startup QARAsoft (CEOs Luke ChangHwan Byun, Katie Bomi Son) as a cool vendor in its annual 2019 Cool Vendors Report.
Together with QARAsoft, a total of four fintech companies were chosen as a cool vendor. Among the three are DataCanvas, Rainist, and Synergies.

Key findings from the report suggest that Financial Services Institutions (FSIs) in the Asia/Pacific (APAC) region will need to partner with innovative AI fintech firms to optimize businesses and improve competition. Gartner identifies a firm as “cool” if it meets three criteria: innovation, impactfulness, and intrigue.

Gartner’s Senior Director Analyst Adrian Lee reports that QARA’s robo-advisory app KOSHO has the potential to engage with the unbanked and offer cost-effective solutions to better manage people’s finances.

KOSHO is one of the few AI deep learning enabled robo-advisors in Asia. Through QARA’s in-house “Market Dreamer” technology, KOSHO analyzes the past 30 years of market history and uses the latest Convolutional Neural Network (CNN) and Recurrent Neural Network (RNN) technologies to track financial market performances. Market Dreamer’s datasets include 30,000 global stocks, 38 major financial indices, and 24 cryptocurrencies.

Since KOSHO’s official release on March 21, 2019, KOSHO has gained over 130,000 downloads with impressive ratings of 4.6 and 4.4 on the App Store and Google Play Store respectively. KOSHO is also available in 5 different languages and has launched in 11 countries worldwide, including South Korea, USA, Singapore, UK, and Japan.

“The World Bank Group estimates that robo-advisors will manage up to 10% of all global investment assets by 2020,” notes Adrian Lee, Senior Director Analyst at Gartner. “Data and analytics leaders of investment banks, asset management firms and credit rating firms will benefit from QARA’s enterprise product to reduce operational costs of terminals and maximize the potential from event-based analysis.”

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