Thursday, 28 September 2023

WeLab Bank innovates theme-based fund platform to disrupt traditional model

5 min read

WeLab Bank announced the expansion of its wealth management services with the launch of its new featured fund platform.

WeLab Bank ventured into wealth management business last year, pioneering a personalised and intelligent investment experience for tech-savvy customers.

The bank debuted its digital wealth advisory solution, GoWealth, which was widely welcomed by customers immediately after its launch. Currently, over 10,000 customers have activated their wealth management accounts, and the number of users and investment amounts are also growing rapidly. Building on the success of GoWealth, WeLab Bank has recently launched a new Featured Fund platform to create a simpler and more direct fund investment experience.

WeLab Bank has noticed that many customers with investment experience in funds have expressed their dissatisfaction with the traditional trading models. They find it difficult to obtain professional fund recommendations, and the preparation work is complicated with high subscription fees. There is a demand for a disruptive fund platform to rewrite the legacy model.

WeLab Bank strives to elevate the market benchmark and address these pain points by helping customers make investment decisions easier. The Featured Fund platform consolidates the latest market intelligence for customers, provides one of the hottest investment themes and fund choices, and offers greater flexibility and control over their investment strategy.

Unlike other similar services in the market, the platform adopts a monthly fee model – a game-changer to the market that enables customers to adjust their investment portfolios depending on the market condition without incurring additional costs, saving nearly 90% in transaction costs compared to other platforms.

The Featured Fund platform will complement the existing digital wealth advisory solution, GoWealth by catering to different customer segments.

Re-disseminated by The Asian Banker

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