4 top wealth management platforms established in Singapore
By Leandra Monteiro
Singapore has established itself as one of the leading private banking and wealth management centers globally and in Asia. According to the Monetary Authority of Singapore, high net worth individuals choose Singapore for its sound financial regulation, strong rule of law, as well as political and economic stability. The breadth and depth of institutions here also give them ready access to global and regional financial markets while providing a full suite of wealth management services to meet their every need.
Since the wealth management industry’s growth took off in late 1994, the government through the MAS, has taken great strides to develop and introduce reforms and improve the regulatory framework to encourage growth, all with the aim to make Singapore the leading financial center in the global market. In 2002, the MAS along with industry players and other government agencies revamped the regulatory framework and also formulated strategies to promote growth in sub-industries within the financial services sector.
Here are 4 wealth management platforms in Singapore to look out for:
Bambu is a B2B FinTech company, which means it only develops tech for financial institutions. The platform helps users save and invest for their future.
Bambu is headquartered in Singapore with a subsidiary in the United Kingdom, the USA and EMEA representatives. Founded in 2016, and largely privately owned by the founders and employees, the company has the financial backing of one of the world’s leading players in the industry in Franklin Templeton. Bambu also launched Singapore’s first robo-advisor platform back in 2016 with Crossbridge Connect.
Kristal.AI is a digital private wealth platform, licensed and operational in Singapore, Hong Kong, India, and UAE. The company unlocks sophisticated investment opportunities for the underserved mass affluent investors and provides a genetic advisory algorithm that helps first-time investors pick the most suitable portfolios (branded as Kristals) according to their financial goals and risk profiles.
The diverse team is backed by a strong and supportive management team with past work experience in JP Morgan, Citibank, BNP Paribas, Yahoo, Cognizant, and IBM Security. It is also backed by a leading VC in India – Chiratae Ventures (formerly IDG Ventures).
Founded in 2010, M-DAQ Global is a Singapore-based FX solutions specialist for cross-border commerce and multi-currency trading. Backed by global institutions such as Affinity Equity Partners, Ant Group, EDBi, NTT Communications and Samsung, M-DAQ has processed close to S$30 billion of cross-border transactions over 45 markets since the launch of its Aladdin FX solution in 2016. Its clients include China’s internet ecosystem players such as AliExpress, Tmall and JD.com.
M-DAQ’s technological solutions relies on the use of big data through its predictive engine and a proprietary algorithm supported by two-thirds of the world’s foreign exchange liquidity providers.
StashAway is the digital wealth manager that intelligently navigates macroeconomic data, not the market ups and downs. StashAway personalises financial planning and portfolio management for the vast range of needs of retail and accredited investors alike.
Its proprietary investment strategy, ERAA (Economic Regime-based Asset Allocation) uses macroeconomic data to maintain each investors’ personal risk preferences through any economic environment. ERAA’s intelligent asset allocation approach minimises risk and maximises returns by reading thousands of data points to determine current and upcoming economic environments, navigating economic uncertainty, and seeking asset class valuation gaps. StashAway is headquartered in Singapore, and operates in Malaysia, MENA, Thailand and Hong Kong.
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December 06, 2023
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