Xavier Kong · · 1 min readKenanga, Ant collaborate to roll out wealth management super app
Kenanga Investment Bank, a Malaysia-based financial services company, and Ant Group have entered an agreement to collaborate on a Malaysian wealth management super app, Fintech News Malaysia reported.
The app aims to change how Malaysians look at wealth management, offering financial solutions like stock trading, digital investment management, and crypto trading. The app will also be an extension of Kenanga’s digital products catalog, which includes online stock-trading platform Rakuten Trade and investment robo-advisor Kenanga Digital Investing.
The app is likely to launch in the first quarter of 2023.
This endeavor will be based on Mobile platform as a service (mPaaS), a mobile development platform from Ant’s digital technology department.
Ant Group, in which Alibaba has a 33% stake, is also the unit in charge of Alipay transactions in China. Recently, it was reported that Alibaba co-founder Jack Ma intends to release his voting powers to Ant Group executives, loosening his hold on the unit.
Editing by Samreen Ahmad and Arpit Nayak
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