Singtel and UOB Asset Management (UOBAM) have signed a Memorandum of Understanding (MOU) to offer dynamic and personalised robo-advisory investment solutions to individual investors through Singtel’s Dash mobile wallet.
Singtel and UOBAM will introduce a customised mobile robo-adviser for Dash customers. The robo-adviser, leveraging technology, data analysis and algorithm-based tools, will be able to provide advice on investment products personalised to the customer.
This paves the way for Dash to make its foray into wealth management and furthers its goals of digital and financial inclusion by expanding the app’s range of mobile financial services offerings.
Dash customers will be able to invest in a portfolio of Exchange Traded Funds (ETFs), managed funds and/or other asset classes within the Dash app. The investment portfolios offered through the robo-adviser will be highly personalised based on the customers’ risk profile, investment horizon and financial goals.
Mr Arthur Lang, CEO of Singtel’s International Group, said,
“We’re delighted to partner UOBAM to offer exciting new investment products, starting with the upcoming robo-advisory service on the Dash app. Tapping on UOBAM’s expertise in investment management, we aim to democratise access to digital investments for our customers who value simplicity, affordability and convenience when managing their finances on a digital platform. Through partnerships with key financial institutions, we will continue to boost the mobile financial offerings available on Dash and strengthen its position as an everyday allin-one mobile app that supports customers’ connected lifestyles.”
Mr Thio Boon Kiat, CEO of UOBAM, said,
“At UOBAM, we understand that while individual investors appreciate the simplicity and ease that robo-advisers have to offer, they are also focused on the credibility, security and long-term viability of such solutions. This is why we are pleased to work with Singtel to customise our UOBAM Invest mobile robo-adviser and to extend the service to Dash customers. Through our established investment expertise and solid track record, coupled with both companies’ strong heritage as homegrown firms with regional presence, we can help more individual investors to have greater peace of mind as they tap the benefits of our personalised robo-advisory service.”
The robo-adviser is expected to launch by the first half of 2021.
