Lu International, KASIKORNBANK Launched Online Wealth Management Platform FinVest

Lu International, KASIKORNBANK Launched Online Wealth Management Platform FinVest

by November 17, 2020
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Lu International, a subsidiary of Chinese personal financial services platform Lufax Holding, and KASIKORNBANK have launched FinVest, an online wealth management platform. They had announced their partnership back in August, teasing the release of the platform.

The new digital investment platform is aimed at helping retail investors in Thailand gain access to onshore and offshore investment products through Lu International’s network, and the local expertise offered by KASIKORNBANK.

FinVest is said to provide personalised investment solutions for retail investors, providing access to more than 600 funds from 15 asset management companies in Thailand.

Additionally, FinVest offers an enhanced design as well as user-friendly and mobile-friendly screen flows. In designing the mobile app, Lu International and KASIKORNBANK prioritised the needs of retail investors.

These include the ability to make informed investment decisions and the access to relevant investment knowledge provided by Lu International and KASIKORNBANK in collaboration with Robowealth, a wealthtech and investment specialist and investment solutions provider in Thailand.

Kit Wong, CEO of Lu International, commented,

Kit Wong, CEO of Lu International

Kit Wong

“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.”

Mr. Patchara Samalapa, KASIKORNBANK President, said,

Patchara Samalapa, KASIKORNBANK President

Patchara Samalapa

“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 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 with an approximate minimum investment amount of US$35 or THB1, 000 with no additional account opening or closing fees.

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.

 

Featured image: Edited from Unsplash

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