Fintech platform iCapital plans more Singapore hires even as AI takes on 75% of coding work

The fintech firm iCapital plans to expand its workforce in Singapore, even as it increasingly relies on artificial intelligence to streamline coding processes. CEO Lawrence Calcano revealed that AI now writes 75% of the company's code, used for generation, testing, and quality assurance. This shift aligns with the alternatives sector's evolution, as investors move from basic access to private markets towards more sophisticated portfolios supported by analytical tools. iCapital's 2026 Asia Advisor Survey found that a growing number of advisers are seeking more analytics and education to make informed decisions, moving beyond the reporting capabilities of early adopters.

The firm has invested over $1 billion in technology since its inception to address pain points in education, access, administration, and reporting, with risk analytics emerging as the top technology priority in Asia. As alternatives become more integral to investors' portfolios, Calcano emphasized that they should be viewed as core holdings, capable of driving incremental returns and managing risk.

Despite concerns about private credit, driven by economic climate and technology disruptions, Calcano noted that investor sentiment is increasingly focused on actual credit metrics and statistics to assess potential risks. Singapore continues to serve as a vital hub for iCapital's international operations, offering a diverse range of functional expertise and sales capabilities.