Jiaojiao, the first robot employed in China's banking service, was put on duty at a Bank of Communications in Dalian, Liaoning province last year.[Photo/IC]

"By adopting big data technology, we are able to provide inexpensive but better services to our customers," Tang said.

Several large Chinese asset management companies have started using the technology.

They are emulating some overseas banks and financial organizations, including Germany-based Deutsche Bank and New York-based Betterment LLC, that introduced free automated investment plans. Such programs work on computer algorithms that create portfolios of exchange-traded funds.

According to Frank Wang, managing director of wealth management, CreditEase, robo advisers could spawn a market worth more than 2 trillion yuan ($298.9 billion) by 2020.

"The booming market is mainly based on popular online wealth management and financial technologies," Wang said.

As of Monday, more than 3.39 million individual investors have registered on the ToumiRA platform, investing over 17.9 billion yuan in global assets, according to CreditEase.