Prometheus, a fintech firm with operations in Silicon Valley and Athens, Greece has included Malta in its progress plans
Prometheus Applied sciences is within the course of of building a base in Malta and can profit from the very excessive calibre of post-graduate expertise in machine studying and funding analysis which is fostered by the College of Malta.
This funding shall be supported by monetary backing from Malta Enterprise, the event company of the Maltese Authorities of as much as €1m.
Prometheus’CEO, Grigorios Papamanousakis, mentioned: “We’re delighted to be increasing our presence in Europe by way of this assist from Malta Enterprise and we look ahead to extending our lead in delivering values-driven, AI investing into the retail market.
“This assist shall be used to enormously improve our R&D efforts within the areas of AI know-how and values-driven influence investing. Our mission is to actually personalize asset administration and, by our companions, ship institutional grade investing to retail clients for the primary time. Our Maltese R&D workforce will assist construct the know-how to ship an answer by which traders can have management over how their cash is invested and quantify the influence of their investments within the society and the world normally.”
Malta Enterprise Chief Government Officer Kurt Farrugia mentioned: “We welcome Prometheus Applied sciences to the rising checklist of fintech startups from which we’re seeing a rising curiosity in Malta. Selecting the Maltese ecosystem for its supportive setting and Malta as their operational base as they develop their modern mental property in partnership with our world class College and expertise pool demonstrates the fruitful outcomes of Malta Enterprise’s help for startups’’.
James Hughes, Chief Government Officer of Vedra Companions and board advisor at Prometheus, beforehand International Head of Dynamic Options at Natixis Funding Managers, and International Head of Options at Aberdeen Asset Administration mentioned: “Prometheus is exclusive in delivering actually personalised asset administration. The assist of Malta Enterprise will assist drive the corporate’s enlargement into the banking, insurance coverage and pension markets, guaranteeing that AI-driven systematic investing is obtainable by companions to retail traders throughout these industries. The chance to permit people to speculate primarily based on their very own values creates a major edge.”
The corporate’s management, its traders and advisors have a powerful background in asset administration. Lots of the workforce are former Aberdeen Asset Administration professionals and are pioneers in machine studying investing. Prometheus has been engaged on the answer in stealth mode for the final two years.
Prometheus permits companions, together with fintech’s, banks, brokers, insurers and pension suppliers, to supply scalable, accessible institutional grade investing to their retail clients. The corporate has developed a turnkey answer – primarily based on AI investing – which presents alpha technology, in addition to enabling every investor to have a personalised portfolio, and is designed to scale.
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