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Thai bank partners to launch FinVest for local retail investors

A leader in digital banking and one of Thailand’s largest banks and a Singapore-based financial consultant, a subsidiary of China’s leading technology-empowered personal financial services platform, recently announced the launch of FinVest, an online wealth management platform.

The new digital investment platform is aimed to help retail investors in Thailand gain access to a full spectrum of onshore and offshore investment products at a low minimum investment amount through the extensive network and relationships brought by the two parties.

FinVest aims to provide personalised investment solutions for retail investors. The online investment platform that has been built in partnership between the two entities caters to digitally savvy investors, providing access to more than 600 funds from 15 Asset Management Companies in Thailand.

Additionally, FinVest offers a curated client experience, including an enhanced design as well as user-friendly and mobile-friendly screen flows. In designing the mobile app, the entities prioritise the needs of retail investors. These include the ability to make informed investment decisions and the access to relevant investment knowledge provided by the firm and the bank in collaboration with a wealth-tech and investment specialist and investment solutions provider in Thailand. The ultimate goal of this collaboration is to make sure of the best investment journey to all investors.

The CEO of an online Internet finance marketplace stated that Thailand is one of the fastest-growing markets in Southeast Asia and continues to see rapid wealth growth and economic development. Partnerships and the sharing of technological know-how are defining the financial industry across the region, making significant improvements to the quality of service and offerings to clients. Through this collaboration, investors now have access to international investment opportunities that have previously only been available to a select few.

The CEO of the consulting firm noted that digital technology is rapidly changing the way investors use financial services. They are increasingly using digital channels to purchase financial products and invest. FinVest offers clients the convenience, efficiency, intelligence, and ease of use through a personalised online wealth management platform that will help Thailand and its economy stay at the forefront of the digital financial revolution taking place across the region.

An executive of the bank stated that in 2020, Thailand’s total outstanding capital market value is worth around THB44 trillion. Of this amount, investment in mutual funds totals THB4.8 trillion or around 10%. Of late, the younger generation has shown increasing interest in mutual funds, preferring to conduct transactions via digital channels and seeking products related to Thai and foreign equity instruments.

Moreover, open-architecture investment is growing every year. Development of the FinVest digital platform will help enhance investment potential for Thai retail investors, allowing them to directly invest in global mutual funds via FinVest.

FinVest marks a cooperative effort towards digital technology development; the bank which has extensive digital banking expertise; the Singapore-based company (under the online Internet finance marketplace) and the wealth-tech firm, ensuring that the FinVest platform is in alignment with the Thai capital market under the supervision of the Securities and Exchange Commission, Thailand.

This cooperation also reinforces the bank’s status as a complete banking service provider, based on a combination of its own digital banking expertise and that of the world’s leading partners and fintech experts.

FinVest seamlessly caters to local investors with round-the-clock digital access to comprehensive information about their accounts, market insights and intelligence relevant to their portfolio, while opening the door to premium onshore and offshore wealth management products. The platform also adopts strict Know Your Product (KYP) and Know Your Customer (KYC) compliance procedures, alongside an Anti-Money Laundering (AML) and an anti-fraud system, to meet regulatory requirements.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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