Zishan Wang1, Yanjing Wang2, Yilong Wang3, Ziye Wang4
1City University of London, London, UK
2Shanghai Soong Ching Ling School, Shanghai, China
3King's University College at Western University, Canada
4The Affiliated High School of Peking University, Beijing, China
robot-advisor plays a significant role in traditional financial institutions because they need to process a massive amount of customer and financial data resources. This article uses the Factor Analysis method for Integrated Evaluation, and it compares different Robo-advisor products in China and other countries to evaluate the Robo-advisor performance in traditional financial institutions with AI and cloud computing. The research includes China Merchants Bank (CMB), Industrial and Commercial Bank of China (ICBC), Betterment, Wealthfront, etc. The result shows that compares to other products in the rest of the world, the Robo-advisors of ICBC and CMB from China have a shortage in customer profiles, the underlying asset of the investment portfolio, product targeting and positioning. According to the result, this article analyses the problem in applying Robo-advisor in traditional financial institutions and provides some development suggestions.
Traditional Financial Institutions, Robo-advisor, Factor Analysis
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