Baker McKenzie Wong & Leow has assisted local Fintech company, 8BIT Global Pte. Ltd. (8BIT), with its successful application to the Monetary Authority of Singapore (MAS) for a financial adviser's licence for providing its VI App, a platform which offers users proprietary tools to facilitate the analysis of securities listed globally. 8BIT employs artificial intelligence and machine learning to generate, from complex corporate and financial data, easily-digestible ratings, graphs and charts to aid investors in the making of investment decisions.
Principal Stephanie Magnus, local principal Ying Yi Liew and associate Darren Yang from the Financial Services practice worked closely with 8BIT to advise on the licensing and regulatory issues around their innovative platform, its features and functions, and assisted in the licence application.
"We continue our work with innovative, Singapore-founded Fintech companies in this recent matter. As a Fintech with a growing reach across Asia, this successful application with MAS will be another milestone in 8BIT's expansion," said Stephanie, who is also Baker McKenzie's Asia Pacific Head of Financial Institutions.