Wealthtech
Grab Shuts Down Investment Business, Users Have Until 13 Oct to Withdraw Funds
Ride-hailing and food delivery superapp Grab announced that it will be shuttering its investment business in Singapore by discontinuing its AutoInvest and Earn+ products. Micro-investment platform AutoInvest is Grab’s first retail wealth management product was formed as a result of
Read More
MAS Approves Digital Asset Exchange AsiaNext as Recognised Market Operator
AsiaNext, a digital asset exchange for institutional investors, announced that it has secured a license as a Recognised Market Operator (RMO) from the Monetary Authority of Singapore (MAS). The license allows AsiaNext to operate an organised market for securities and
Read More
Investment Platform Navigator Rebrands as GROW with Singlife
Navigator Investment Services announced that it has rebranded as GROW with Singlife following its inception as an investment platform over 20 years ago in Singapore. The rebranded entity will be under a new management team and with significant focus placed
Read More
Endowus Raises US$35M to Deepen Presence in Singapore and Hong Kong
Digital wealth management platform Endowus announced that it has raised US$35 million in its latest funding round to deepen its presence in the Singapore and Hong Kong markets. The fundraise was joined by new investors Citi Ventures and MUFG Innovation
Read More
FOMO Group Acquires CapBridge, 1X Exchange to Expand into Capital Markets
FOMO Group, a financial holding company that owns FOMO Pay, has acquired CapBridge, a capital markets service and asset custody firm, and private securities exchange company 1X Exchange. CapBridge is a digital online investment syndication and distribution platform with Capital
Read More
MAS: Risk of Artificial Intelligence “Herding” Traders Still Low in Singapore
The risk of “herding” in trading platforms due to the use of AI models is still low as financial institutions (FIs) in Singapore are still at a nascent stage of using AI models for decision-making, says the Monetary Authority of
Read More
Turning to the Power of Generative AI to Scale Wealth Management
Generative AI, the capacity of computers to craft content in ‘unstructured’ forms such as text or images, is a marked change of AI from the traditional ‘structured’ data formats like tables. Generative AI came into grander limelight for many fields,
Read More
Hugosave Taps Karl Franks as COO to Expand Asia Footprint
Singapore-based wealth and savings app Hugosave announced that it has appointed Karl Franks as its new COO to drive its strategic growth initiatives in Singapore and Asia Pacific. Karl will also oversee the day-to-day operations and enhance its effectiveness. With
Read More
OCBC Bank Enters Into Long-Term Partnership With ADDX
Global private market exchange ADDX has entered into a long-term partnership with OCBC Bank that will see both parties work together to put out a wider variety of investment products. Through this partnership, ADDX will distribute OCBC’s first tokenised equity-linked
Read More
Temenos Adds New Advisory Features to Its Digital Wealth Solution
Banking software company Temenos has added several new investment advisory features to its Digital Wealth solution, enabling banks and wealth management firms to grow their High-Net-Worth user base. With the new features, Private Wealth Managers (PWMs) will be able to
Read More