These investors are more confident in utilising wealth-tech to make their investment decisionsAs gatekeepers for their clients’ wealth, wealth managers must evolve to meet the needs of an increasingly sophisticated investor

SINGAPORE, Dec. 4, 2024 /PRNewswire/ — High-net-worth investors are now demanding more integrated wealth management solutions, according to data from a survey of more than 800 Moomoo users in Singapore and that of its sister brand Futubull in Hong Kong. These individuals, who have investable assets of at least S$1 million, are increasingly embracing technology to preserve and grow their wealth.

The survey, which was conducted jointly with Professor Ben Charoenwong of INSEAD[1] and Professor Alan Kwan of the University of Hong Kong, focused on the role of wealth-tech, or financial technology tailored to the wealth management sector.

Nearly 7 in 10 investors across all wealth classifications are at least moderately comfortable with using technology to manage finances, the survey found. Yet, contrary to conventional wisdom, wealthier clients, rather than those with lower wealth levels, are more receptive to automated solutions.

“Wealth management has traditionally been characterised by its high human touchpoint, with its highly personalised and face-to-face interactions between clients and their financial advisors. These high-net-worth individuals typically lead successful and busy lives, traditionally relying on the expertise of wealth managers to navigate the investment landscape and manage their portfolios,” Ryan Wu, Head of Private Wealth and Institutional Business, Moomoo Singapore, said.

“But that’s changing rapidly. As technology evolves and client preferences shift, these clients now expect hybrid advisory services, combining the best of technology and the human touch. This creates opportunities for digitally native firms providing wealth management services,” Rainie Miao, Managing Partner of Institutional and Private Wealth Services, Futu Group, noted.

Digital-first approach – but don’t forget the human

Amid this shifting landscape, financial services firms have to adopt embedded digital services to meet the needs of their clients, particularly when it comes to emerging high-net-worth individuals within the millennial population.

The survey also revealed the top three key digital features desired by wealthy clients in Singapore and Hong Kong:

Holistic portfolio tracking and performance analysis tools, highlighting the importance of comprehensive wealth management solutions that provide investors with a holistic view of their financial portfolio.Integration with existing financial accounts and platforms, emphasising the demand for seamless connectivity between various financial platforms and services, aligning with the trend toward open architecture and API integrations in wealth-tech.Automated personalised investment advice, reflecting a growing acceptance of robo-advisory services and exploration of AI-driven recommendations.

“Across the region, there is a clear shift towards digitally integrated, comprehensive wealth management solutions that leverage automation. Wealth-tech providers and digital brokerages looking to be at the forefront of this transformation should prioritise these offerings to meet the demands of investors in these markets,” Rainie Miao of Futu Group added.

Asia remains a key market for the private wealth management industry. In particular, regional financial hubs such as Hong Kong and Singapore are expected to continue their rapid growth in the years ahead. According to a recent report by HSBC, total financial assets in Asia will grow from $46.8 trillion in 2020 to $68 trillion by 2025[2].

In addition, a major transfer of wealth to the younger generation that now are more technologically savvy has been driving the ongoing shift in preference towards digital channels for the delivery of wealth solutions and services.

Yet, while the role of technology in wealth management has become increasingly important, the human element remains critical, particularly for clients with complex or multi-faceted financial needs. Digital brokerages should invest in advisor augmentation technologies that enhance the human expertise offered by wealth managers.

These tools can help advisors manage larger client portfolios more efficiently, provide data-driven insights, and save time for more value-added activities such as financial planning and relationship building.

“The role of the wealth manager will continue to evolve as technology plays an increasingly bigger role in the industry. As gatekeepers for their clients’ wealth, wealth managers must balance innovation with the need to maintain trust, security, and compliance. They must also be agile, continuously adapting to new technologies and client preferences while preserving the core values that underpin their relationships with clients,” Ryan Wu of Moomoo Singapore said.

About Moomoo Singapore 

Moomoo Financial Singapore Pte. Ltd. (Moomoo Singapore) is an award-winning advanced financial technology company transforming the investing experience through our digitalised brokerage and wealth management platform – moomoo. Moomoo enhances the user experience with market data, news, and powerful analytical tools. Moomoo also embeds a unique digitalised investment community to connect all users, investors, companies, analysts, media and key opinion leaders.

Moomoo Singapore offers investment products for trading via the moomoo platform, and it is a capital markets services license holder regulated by the Monetary Authority of Singapore (Licence No. CMS101000), Major Payment Institution (Licence No. PS20200617) holder with the Exempt Financial Adviser Status. In April 2024, Moomoo Singapore reached the 1 million users milestone in Singapore.

Moomoo Private Wealth offers bespoke investment strategies for HNW and institutional clients. Backed by its cutting-edge technology platform, Moomoo Private Wealth offers a portfolio of innovative investment products and has been recognised by Asia Banking and Finance for its product excellence.

Our achievements include the Investment Tech of the Year award at the 2024 Asia Fintech Awards and the SIAS Best Retail Broker 2024.

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SOURCE moomoo

HANOI, Vietnam, Dec. 4, 2024 /CNW/ — KuCoin, a leading global exchange, has proudly hosted an enlightening substage session at the prestigious VTIS event on December 3rd, drawing a crowd of over 300 participants to Stage C with 4 insightful panels and 2 inspiring speeches. The session, themed “Next-Gen Consumer Apps and the Digital Economy,” offered a profound exploration into the transformative potential of digital assets.

During this pivotal event, visionaries, industry leaders, and enthusiasts gathered to delve into how digital assets revolutionize consumer experiences and the broader economic landscape. The session presented an array of discussions ranging from payments to blockchain’s role in consumer applications, focusing on the immense opportunities within the ASEAN market.

A panel on the “Next Generation of Payment” kicked things off, featuring innovators like Hieu Do (Head of Partnership of Holdstation), Cody Li (Founder of Terminus.network), and Cem Arcan (Head of Ecosystem of Next Generation). This was followed by a panel discussion on “Building Digital Markets with RWA,” where Mary Tran (CEO of Orochi Network), Wynn Le (Manager Director of SSI Digital), and CK Ong (COO of SBI Digital Market) shared their expertise.

Raymond Chu, Director of Thailand International Digital Business & Finance Center (TIDC), then delivered a keynote on “A Gateway to Southeast Asian Digital Growth,” highlighting the region’s unique market dynamics. The afternoon sessions also included a deep dive into “Future Innovation and Security in Blockchain,” with contributions from Celine Chong (Sales Engineer of Figment), Vi Vi (Co-Founder of ZKP Labs), and Will Huang (Ecosystem Lead of TONX). Yuki Zhou (HK Hub Lead of TON Society), Jenny Nguyen (COO of Kyros Ventures), Son Ho (MD and Head of Investment of k300 ventures) and Vanny Ha (Head of Vietnam of Kaia LTD Foundation) then took the stage to discuss Web3 Consumer App in ASEAN Market.

The event concluded with a keynote from Trần Kim Duy Lân, Lecturer of HUTECH University, focusing on the future impact of technology on blockchain and AI. The “Blockchain & Fintech Fiesta” networking hour wrapped up the event, fostering connections and discussions among innovators, industry shapers, youngsters and enthusiasts.

“We are glad to have hosted the event at the prestigious Vietnam National Convention Center, together with leading financial and technology companies like SSI Securities Corporation (SSI) and FPT,” said Alicia Kao, Managing Director of KuCoin. “KuCoin will continue to support the AI and blockchain technology innovation in Vietnam and provide platform and resource to the local community in education, incubation and mentorship.”

KuCoin has also collaborated with volunteers from prestigious Vietnamese universities, including Diplomatic Academy of Vietnam, Foreign Trade University, Academy of Journalism and Communicationand etc, offering enriching experiences and learning opportunities for the younger generation interested in blockchain, AI, and fintech industries. This partnership highlights KuCoin’s commitment to educational development. It stands as a cornerstone of KuCoin’s global corporate social responsibility initiatives, aiming to foster a knowledgeable and skilled future workforce in the rapidly evolving tech landscape.

About KuCoin

Founded in 2017, KuCoin is one of the pioneering and most globally recognized technology platforms supporting digital economies, built on a robust foundation of cutting-edge blockchain infrastructure, liquidity solutions, and an exceptional user experience. With a connected user base exceeding 37 million worldwide, KuCoin offers comprehensive digital asset solutions across wallets, trading, wealth management, payments, research, ventures, and AI-powered bots. KuCoin has garnered accolades such as “Best Crypto Apps & Exchanges” by Forbes and has been recognized among the “Top 50 Global Unicorns” by Hurun in 2024. These recognitions reflect its commitment to user-centric principles and core values, which include integrity, accountability, collaboration, and a relentless pursuit of excellence.

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SOURCE KuCoin

PhysicsX releases the first Large Geometry Model, LGM-Aero, for aerospace engineering, trained and provisioned on Amazon Web Services (AWS) cloud compute using more than 25 million different shapes. It reduces the time to investigate aerospace concepts from months to hours.

Trained and provisioned on AWS, LGM-Aero is a geometry and physics model pre-trained on a corpus of 25+ million meshes representing over 10 billion vertices, enabling dramatic reductions in aircraft concept development time’Ai.rplane’ is a publicly accessible reference application built on LGM-Aero meant to showcase the power of the model for generating novel aircraft designs and predicting physics associated with aircraft performance, unveiled today at AWS re:Invent 2024 (2-6 Dec, Las Vegas)Both Ai.rplane and LGM-Aero are available on the PhysicsX engineering AI platformLGM-Aero’s training data includes a large high-fidelity physics corpus generated with the Siemens Xcelerator portfolio in collaboration with Siemens Digital Industries

LONDON, Dec. 4, 2024 /PRNewswire/ — PhysicsX, a London-based start-up bringing the power of generative AI to enable breakthrough engineering in advanced industries, has launched the first Large Geometry Model (LGM) for aerospace engineering, LGM-Aero, and a publicly accessible reference application, Ai.rplane, to showcase its power in designing aero structures.

Ai.rplane allows engineers to generate innovative aircraft designs in an infinitely wide design space and instantaneously assess the designed aircraft’s potential performance.

Developed and provisioned on AWS, LGM-Aero was trained on more than 25 million meshes, representing more than 10 billion vertices, and a corpus of tens of thousands of Computational Fluid Dynamics (CFD) and Finite Element Analysis (FEA) simulations generated with Siemens Digital Industries tools. It is a fully trained model that generalizes to a broad set of aeroelastic applications. It also infers aero performance, flight stability and structural stress for a large class of flying shapes as a zero-shot model. This technology creates geometry and assesses performance results in less than a second, compared to the several hours required for traditional numerical simulations.

“We are delighted to work with PhysicsX as they develop their first Large Geometry Model and release its showcase application Ai.rplane,” said Ozgur Tohumcu, General Manager, Automotive and Manufacturing, AWS.  “This technology will accelerate the transformation of engineering in Advanced Industries for AWS customers, enabling them to bring their products to the market faster while increasing product performance. We’ve been impressed by PhysicsX’s pace of innovation and look forward to deepening our collaboration.”

In one seamless operation, the technology creates novel designs, predicts lift, drag, stability, structural stress and other attributes for each shape, then optimises the design according to the user’s preferences. When used in industrial applications, this workflow reduces development time from months to hours.

“In the same way that large language models understand text, Ai.rplane has a vast knowledge of the shapes and structures that are important to aerospace engineering,” says Jacomo Corbo, co-founder and CEO of PhysicsX. “The technology can optimise across multiple types of physics in seconds, many orders of magnitude faster than numerical simulation, and at the same level of accuracy. We’re excited about what LGM-Aero brings as capabilities to our customers while recognizing that it is also an important stepping stone towards developing physics foundation models.”

LGM-Aero was developed using an extensive set of simulation technologies from Siemens to automate and scale the generation of high-quality training data, as well as AWS Batch and Amazon EC2 to scale compute during training. It is available on the PhysicsX AI engineering enterprise platform, which is trusted by some of the most sophisticated engineering and manufacturing organizations across advanced industries.

“We are thrilled to continue to build on our deep collaboration with AWS, and to announce the release of LGM-Aero and of Ai.rplane. This is a first step in transforming the way engineering is practiced in Advanced Industries,” added Robin Tuluie, founder and chairman of PhysicsX. “Over time, we will bring new capabilities to LGM-Aero and to Ai.rplane, allowing users to select powertrains, add controls and further content to reach mature designs in days rather than months or years.” 

LGM-Aero and Ai.rplane are available on the PhysicsX AI engineering platform. Ai.rplane is free-to-use and accessible via airplane.physicsx.ai.

About PhysicsX: 
PhysicsX is a technology company setting out to enable breakthrough engineering across advanced industries with AI. The company is building a new breed of engineering platform to bring AI-based simulation and optimization across the whole product development lifecycle, from design into manufacturing into operations. It is trusted by some of the most advanced companies in semiconductors, aerospace, automotive, renewables and materials processing. Learn more at www.physicsx.ai.

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