Hong Kong fintech startup, 8 Securities, has launched its Robo-Adviser, «Chloe» on Google Play and the Apple App Store. How does it work?

8 Securities say that Chloe monitors each customer’s goals and optimises the investment portfolio by partnering with world-class advisers. Machine learning improves goal prediction and how much customers need to save over time.

Customers can now start investing with as little as HK$ 1,000. The service is free for accounts under HK$8,888 and 0.88 percent annually above HK$8,888, the company said in a statement to finews.asia.

Diversified Portfolio's 

Unlike other advisory services and mutual funds, customers are free to deposit or withdraw their money anytime with no fees and no questions. Chloe the firm claims gives you a flexible solution to save for the future with the power of investing.

Each customer’s personal portfolio is diversified across as many as 28 countries, 34 industries and 1,637 stocks and bonds using exchange traded funds.

How does Chloe work?

Customers start by answering a short survey to set goals and a target date to achieve them. Each dollar the customer deposits is «intelligently invested» into a diversified global portfolio of exchange traded funds. Chloe monitors and optimizes the investment on a daily basis to help customers achieve their financial goals. Chloe becomes more intelligent over time by using machine learning to better predict customers goal and how much they need to save.

8 Securities believe Chloe holds many advantages over private banks and wealth management firms whose investment minimums and costs make such services out of reach to 90 percent of the population.

On a global basis, customers are expected to deposit over $600 billion in robo-advisors by 2017.