Dec 17, 2020 Hubbis
Singtel and UOB Asset Management (UOBAM) have announced that they 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.
The collaboration will see Singtel and UOBAM introduce a customised mobile robo-adviser for Dash customers, the firms said in a press release. The robo-adviser, leveraging technology, data analysis and algorithm-based tools, will be able to provide advice on investment products personalised to the customer, making digital investments more accessible to consumers and empowering them to grow their wealth simply and smartly. 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.
Singapore Telecommunications (Singtel) and UOB Asset Management plan to launch what they say will be a customised robo adviser for retail investors via Dash, the former’s mobile wallet, in the first half of 2021.
Dash users will be able to invest in a portfolio of exchange-traded funds (ETFs), managed funds and other asset classes, managed by UOB.
“The investment portfolios offered through the robo adviser will be highly personalised based on the customers’ risk profile, investment horizon and financial goals,” UOB says in a statement on December 15. It did not provide figures on the number of Dash users.
The new robo adviser will join a field that has become more crowded in the three years since the first of them, StashAway, made its debut in 2017.