A wealth generation and management “SuperApp” will be released by a partnership between China’s Ant Group and Kenanga, the largest independent investment bank in Malaysia.
The “SuperApp” will offer a variety of financial services, including cryptocurrency trading, foreign exchange, digital investment management, and stock trading, according to a release published on Wednesday.
“Having spent the year conceptualising and designing the SuperApp, we are thrilled to partner with Ant Group, a globally recognised and experienced infrastructure and platform provider, to develop this platform and bring it to life” said Datuk Chay Wai Leong, group managing director at Kenanga.
The technological company that created Alipay is called Ant Group
According to the press announcement, the investment bank will use the mPaaS mobile development platform from Ant Group for the app.
“With almost 50 years of retail experience serving over half a million customers, we believe the Kenanga Wealth SuperApp will leapfrog our growth to the next level” Datuk Chay said.
According to the statement, the 1973-founded investment bank began its digital transformation five years ago. Additionally, it has collaborated with the rapidly expanding stock trading app Rakuten, based in Tokyo, to establish Rakuten Trade.
According to a press release, Kenanga also introduced a robo-advisor, which has gathered more than $55 million in assets under management in just six months.
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