Razer Fintech, Franklin Templeton co-launch digital wealth management platform for youth

Razer Fintech, the financial technology arm of gaming giant Razer, today announced that it has signed a memorandum of understanding with global asset manager Franklin Templeton, through its Singapore subsidiary Templeton Asset Management, to collaborate in digital wealth management innovation.

Photo credit: Razer Fintech

Through the collaboration, the pair plan to jointly launch a next-generation digital wealth management platform, which is tailored specifically to the needs of Razer Fintech’s youth and millennial customers, according to a statement.

The platform will provide digital wealth offerings in multi-asset solutions across theme- and goals-based portfolios, regular savings plans, money market funds, and other products and investment vehicles.

The collaboration will initially focus on key markets for both organizations, namely in Singapore, Malaysia, the Philippines, and Vietnam, and will be scaled up as Razer Fintech expands its operations in other countries across the globe.

For now, the two parties will focus on five areas: co-designing the next generation digital wealth journey, developing customized multi-asset solutions for youth and millennials, improving their financial literacy, co-investing in fintech startups, as well as collaborating in digital marketing and customer engagement.

Launched in 2018, Razer Fintech provides an offline-to-online digital payment network and claims to have processed over billions of dollars in total payment value. In the first half of 2020, its parent company recorded US$447.5 million in revenues, with US$64 million from Razer Gold and Razer Fintech.

In January this year, the fintech unit applied for a digital full bank license in Singapore.

California-based Franklin Templeton, meanwhile, has around US$1.4 trillion in assets under management as of July 31 this year. Singapore is currently the company’s global center for emerging markets, investment management, and its regional business hub in Asia.