Lu International and KASIKORN BANK have launched FinVest, an online investment platform under the “Your Wings Your Ways” concept which can meet the needs of all investors. They announced a partnership in August and stopped releasing the platform.
Investors can open an account through app and buy mutual funds from leading asset management companies within Thailand and elsewhere. Within early next year, customers will be able to invest via foreign mutual funds.
Patchara Samalapa, KBank President, said,
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.”
Kit Wong, CEO of Lu International (Singapore), said,
“Lu International, a subsidiary of Ping An Group, which is the largest financial conglomerate in China, has strengths in investment management and a world-class technology development team. The company foresees that Thailand will become an important market, with the fastest growth in investment and economy of any Southeast Asian country. The cooperation with KBank and Robowealth in developing and offering services under the FinVest platform is intended to meet the needs of investors in the current era who place emphasis on the use of digital technology as a personal investment tool. Lu International is confident that the launch of the FinVest platform in Thailand will help bring its digital-based investment to the forefront in Southeast Asia.”
Chonladet Khemarattana, CEO and co-founder of Robowealth Mutual Fund Brokerage Securities Company Limited, said,
“Although Thailand is fast becoming an aged society, most of its population still lacks any investment plan to save up sufficient money for their retirement. Of Thailand’s 70 million people, fewer than 5 percent have invested either directly in the stock market or through a mutual fund. As people are generally concerned about risks and view investment to be difficult and time consuming, the FinVest platform provides investors with an alternative option for accessing an efficient investment channel. Investment analytics are presented in a simple and concise format so as to allow investors to select investment products that are the most appropriate for the market conditions at any particular time. The products themselves have been screened by a team of professionals and an executive on the Product Screening Committee. Robowealth offers services ranging from account activation to purchase of investment units and access to a customer service center via the FinVest platform, which will be linked to Robowealth Open API as well as other platforms of the company.”
