back Back

WeLab Bank announced the launch of GoWealth

By Leandra Monteiro

July 08, 2022

  • AllianzGI
  • Digital Transformation
  • Digital Wealth Advisory
Share

WeLab BankWeLab Bank, the virtual bank dedicated to curating intelligent banking experience, announced that it had become Asia’s 1st purely digital bank independent of traditional banking groups in major Asian markets to launch a digital wealth advisory solution- GoWealth Digital Wealth Advisory (GoWealth).

GoWealth combines the FinTech strength of WeLab Bank with the investment expertise of Allianz Global Investors (AllianzGI), one of the world’s leading asset management firms, empowering customers to reach their financial goals on “autopilot” with an end-to-end approach.

GoWealth is a goal-based wealth advisory solution. It ties the entire investment experience with customers’ goals through an end-to-end advisory process, ranging from financial planning and investment portfolio recommendations to fund transactions and financial goal tracking, all in the WeLab Bank app.

WeLab Bank, Chief Executive, Tat Lee said, “Most of the existing wealth management services focus on high-net-worth customer segments; some relationship managers cease following up and stop tracking investment performance after customers buy investment products. Understanding these pain points, WeLab Bank is determined to digitalize and democratize wealth advisory through GoWealth. By providing goal-based end-to-end investment, we are enabling everyone to get easy access to professional financial advisory in our mobile app. On this occasion, by launching GoWealth, we are proud to become Asia’s 1st purely-digital bank to launch a digital wealth advisory solution1. We envisage that GoWealth will raise the bar for the wealth management industry and mark an important milestone for the entire banking industry.”

To empower customers with risk management, GoWealth updates the “probability of success” on a regular basis which allows customers to understand the risks involved with greater ease. It tracks the progress of customers’ financial goals, and helps customers stay on track with smart alerts so that they can manage their portfolios at their fingertips and gain traction under all market conditions.

AllianzGI, Head of Institutional Business, Asia Pacific, Philip Tso said, “We are excited to collaborate with WeLab Bank and deliver our expertise to more customer segments through fintech. GoWealth relies on the extensive portfolio simulation methodology and AllianzGI’s expertise in and investment management. We believe we can work with WeLab to help democratize digital wealth management solutions for more customers in the city, helping them achieve their financial goals and needs.”

Previous Article

July 08, 2022

Yonder rolls out travel insurance to combat travel chaos

Read More
Next Article

July 08, 2022

UnDosTres raises $30m to develop new financial products

Read More






IBSi Daily News Analysis

Data privacy

July 16, 2024

AllianzGI

Rise in sophisticated attacks, state-level threats, and increased ransom DDoS Incidents

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Capital on Tap renews partnership with GDS Link

Read More

Today

Systems Limited & Formpipe team to drive digitalisation for MEA banks

Read More

Today

Validus Fintech bags seed funding from AUM Ventures

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024