BigBrainBank (BBB) is a fintech startup run by Dr. Brendon Yong, a trader and entrepreneur with 10 years of experience in the financial education industry.
Recently, BBB raised 7-digit funding (US $) from angel investors.
In addition to his experience as a key factor in building investor confidence, Brendon pointed to a global trend.
"It is also good to know that in this era of the COVID-19 pandemic, the attractiveness of the financial markets has also increased. Some regions, such as Africa, saw growth of 300% and companies saw double-digit growth," he said.
This funding comes just a few months after the launch of their new app TheBrain, which digitally supports investors in making trading decisions with the help of AI.
It's not exactly a trading platform
The app offers trading ideas and analysis that users can use to improve their trading results.
However, Brendon made it clear that it is not a trading platform. It's more of a consultant.
"With these trading strategies, any normal user can place their trades on any trading platform of their choice anywhere in the world," he said.
The platform was developed using a variety of big data, machine learning and AI technologies.
It gathers years of market information and compares it to a streamlined, in-depth learning algorithm that generates intelligent trading suggestions for users.
Over 1,000 consultants from robotics experts are integrated into the machine learning skills, while the deep learning algorithm was developed by a global team of programmers and skilled traders.
Screenshot of the app's analysis of trade data / Photo credit: BigBrainBank
Brendon also told Vulcan Post that their AI technology differs from robo-advisors in that they use computers to analyze and then act automatically.
However, TheBrain does not act for you, it only gives you suggestions on where and what to trade.
"The app can analyze market trends, identify market entry and exit points, and provide trading ideas," he said.
"They are all tested for similar types of events using at least 3 years of historical data, while the risk / reward ratio is measured."
Commercial advice From data with an accuracy of over 65%
Bredon said one of TheBrain's most notable features is its trading ideas guide, which uses historical data to inform users of what to trade and when to trade with greater than 65% accuracy.
In addition, the BBB app also includes a multi-channel analysis for commodities, indices, bonds and currencies, with the intention of integrating accessibility for several brokers in the longer term.
"Markets around the world, including Malaysia, have long used expert advisers and trading robots to trade," he said.
Since the app is primarily an educational platform on the subject of commerce, it is of the greatest benefit to self-directed users who are active and involved in increasing their investments.
Targeting passive investors who prefer to leave their money alone with fixed-term deposits, for example, would not work.
Artificial intelligence based algorithms with deep machine learning using big data in TheBrain are a great technological advance. Traders only need to start with TheBrain and experience it in real life scenarios to truly appreciate the amazing possibilities.
Dato ’Dr. Brendon Yong, founder of BigBrainBank
100,000 subscribers are expected by December
Since its launch in July 2020, TheBrain has gained over 60,000 test users who have registered through the app stores and website.
While the platform was developed on a freemium basis, the company charges an annual subscription of $ 300 for advanced features.
In the future, BBB expects to gain 100,000 more subscribers by the end of the year.
To date, most of its subscribers are from Malaysia, 20% from Singapore, Indonesia, Thailand, Taiwan and Dubai – markets that Brendon believes have tremendous growth opportunities.
The BBB Community / Image Credit: BigBrainBank
Next year they want to open up new markets in the Philippines, Hong Kong and finally the rest of Asia.
Brendon announced that the majority of the seven-figure investment will go into further research and development for TheBrain.
This includes the proprietary technology and continuous intensive system improvements to the back-end and support resources.
"A sum will also go into BigBrainBank's globalization strategy and market expansion plans, which we will publish in the next quarter," he added.
- You can find out more about BigBrainBank here.
- Read about other startups that gained enough investor confidence to raise funds during the pandemic.
Selected image source: Dato ’Dr. Brendon Yong, founder of BigBranBank