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High-net-worth Investors Are Embracing Tech To Grow Their Wealth: Moomoo Singapore Survey

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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.

[1] Professor Ben Charoenwong was formerly an Assistant Professor of Finance at the National University of Singapore during the preparation of this report. He has since commenced a teaching position at INSEAD.  

[2] HSBC “Understanding Asia’s emerging wealth landscape” https://www.gbm.hsbc.com/en-gb/insights/international/understanding-asias-emerging-wealth-landscape

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

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Next-gen PRM and Partner Marketing Software Provider, Mindmatrix Announces Strategic Partnership with Crossbeam to Drive Ecosystem-Led Growth

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Mindmatrix, a leader in next-gen PRM and partner marketing software, has partnered with Crossbeam to empower ecosystem-led growth. This strategic collaboration combines Mindmatrix’s comprehensive partner enablement tools with Crossbeam’s innovative partner ecosystem management platform, enabling businesses to streamline collaboration, enhance partner engagement, and maximize growth opportunities across their channel ecosystems.

PITTSBURGH, Dec. 5, 2024 /PRNewswire-PRWeb/ — Next-gen PRM and Partner Marketing Software Provider, Mindmatrix announced a strategic partnership with Crossbeam which promises to revolutionize the way businesses approach Ecosystem-Led Growth strategies. This collaboration brings together the strengths of both companies to offer comprehensive end-to-end ecosystem-powered solutions by integrating each company’s respective partner management and account mapping platforms into one partner orchestration platform.

Harbinder Khera, CEO, Mindmatrix said, “By combining our advanced partner management, Bridge platform, with Crossbeam’s robust ecosystem intelligence tool, we can help our customers achieve unprecedented growth and efficiency through end-to-end ecosystem enablement.”

The combined solution leverages Crossbeam’s expertise in ecosystem intelligence through its account mapping platform with Mindmatrix’s Next-gen Partner Relationship Management (PRM) platform, Bridge. This unique blend provides vendors and all partner types—including traditional channels, alliances, independent software vendors (ISVs), and influencers—the tools they need to drive a fully enabled Ecosystem-Led Growth strategy with strong data, enablement processes, and attribution tracking.

Key Benefits of the Partnership:

Identifying the right partner: Companies leveraging the Mindmatrix platform can find the most suitable partner to work with using Crossbeam’s ecosystem data exchange.Ecosystem enablement: Leveraging this partnership, end customers can solve the biggest challenge in their Ecosystem-Led Growth processes: activation. Now customers can find, onboard, and enable a partner at lightning speed.Ecosystem-led selling and marketing: Vendors and partners can collaborate effectively within the Mindmatrix Next-gen PRM, Partner Marketing, and Ecosystem Orchestration platform to run Ecosystem-Led selling and marketing using Crossbeam account mapping data. Finding new prospects and up-sell opportunities, registering deals, tracking attribution, and running co-marketing campaigns have never been easier.Data privacy & integrity: Since both companies are GDPR and SOC 2 compliant, the integration between Mindmatrix and Crossbeam ensures data integrity and privacy by incorporating business guardrails and data sharing controls.

“Forming a strategic partnership with Crossbeam allows us to offer a truly ecosystem-led transformation solution for our customers,” said Harbinder Khera, CEO, Mindmatrix. “By combining our advanced partner management, Bridge platform, with Crossbeam’s robust ecosystem intelligence tool, we can help our customers achieve unprecedented growth and efficiency through end-to-end ecosystem enablement.”

“We’re excited about the path forward with Mindmatrix, a company clearly committed to innovation for the benefit of their customers. Harbinder and the team recognize the power of Ecosystem-Led Growth and what’s unlocked when the data and insights from Crossbeam’s network are made accessible and actionable from within the Mindmatrix platform,” said Kevin Linehan, Director of Partnerships and Alliances, Crossbeam.

This strategic partnership highlights the commitment of both companies to embrace their own ecosystems, provide innovative solutions that meet the evolving needs of the Ecosystem-Led economy, and help companies build a robust and more effective sales strategy by integrating critical channel and partner data, enabling seamless collaboration across sales, marketing, and GTM functions. The combined strengths of Crossbeam’s and Mindmatrix’s solutions provide customers with comprehensive insights and streamlined enablement processes, empowering them to make data-driven decisions, optimize partner marketing programs, and drive top-line growth through indirect channels.

About Mindmatrix
Mindmatrix Bridge 5.0 is more than a partner relationship management (PRM) or channel marketing (TCMA) platform. It’s a Partner Ecosystem Orchestration Platform that draws on over 25 years of experience in direct and channel sales, partner marketing, and channel operations. This SaaS platform enables your internal partnership teams, external partners, influencers, alliances, and other relevant stakeholders to work together and communicate effectively throughout the sales ecosystem, from lead generation and deal registration to qualification, nurturing, and closing co-sell, referral, and partner-led deals. What sets Mindmatrix apart from other platforms is its flexibility, customization, and end-to-end capabilities

About Crossbeam
Crossbeam is the Ecosystem Revenue Platform that helps 30,000+ B2B companies securely share and compare accounts to surface warm leads, optimize partnership & GTM strategies, and close deals faster by leveraging your partners & Ecosystem Intelligence. Connect with companies on the Crossbeam Network and identify the fastest path to revenue with proprietary ecosystem data, recommended plays for your revenue team, and warm intros and co-selling with your partners.

Media Contact

Kevin Hospodar, Mindmatrix, 4128608729, kevin.hospodar@mindmatrix.net, https://www.mindmatrix.net/

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View original content:https://www.prweb.com/releases/next-gen-prm-and-partner-marketing-software-provider-mindmatrix-announces-strategic-partnership-with-crossbeam-to-drive-ecosystem-led-growth-302323765.html

SOURCE Mindmatrix

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Bairong Wins Prestigious “ESG Financial Innovation Award”, Leading the Development of Green Finance

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HONG KONG, Dec. 5, 2024 /PRNewswire/ — At the recently concluded 4th ESG Finance Forum hosted by Cailian Press, Bairong was awarded the “ESG Financial Innovation Award”. This recognition highlights the Company’s outstanding contributions and leadership in advancing green finance through innovative practices. This award, presented by Cailian Press, celebrates financial institutions that excel in implementing ESG principles, underscoring Bairong’s leading position in the field of green finance innovation.

The forum, themed “ESG Driven, Collaborative Innovation in Green Finance and Industrial Development”, gathered over 100 representatives from government agencies, listed companies, financial institutions, and universities to discuss key ESG topics. Prominent speakers included Tang Yuli, Secretary of the Board of Directors of China Guoxin Holdings Corporation and Executive Director of Guoxin Consulting Co., Ltd., who emphasized the importance of ESG in transforming the financial system. Additionally, Hu Gang, General Manager of Cailian Press, emphasized that ESG principles are a core driving force behind the sustainable development of the financial industry.

Bairong’s Green Finance Digital Intelligence Platform leverages big data and advanced artificial intelligence technology to achieve intelligent identification of green finance opportunities, automated calculation of environmental benefits, and multi-dimensional monitoring of environmental risks. The application of these innovative technologies is not only improving the operational efficiency and management standards of financial institutions in green finance but is also actively supporting the “dual carbon” goals and fostering the green transformation of the economy.

Bairong’s Green Finance Digital Intelligence Platform has several core advantages:

– AI-Powered Intelligent Identification: Leverage proprietary NLP models and large language models to accurately identify and market green financial attributes.

– Integrated Cloud and End-Marketing Solutions: seamlessly integrating with in-house CRM systems to optimize customer identification and marketing to improve business efficiency.

– Comprehensive ESG Risk Monitoring: Embedding ESG elements in pre-loan evaluations to mitigate non-financial operational risks.

– One-Stop Reporting and Compliance: Compiling and submitting relevant data to meet regulatory requirements set by central banks and financial regulatory authorities, ensuring full compliance.

Bairong’s award serves not only as a recognition of its achievements in green finance but also as an affirmation of its leadership and exemplary role in advancing ESG practices. The Company will continue to deepen its research and implementation of ESG initiatives, collaborating with all stakeholders to promote the sustainable and healthy growth of ESG development.

For investor inquiries, please contact:
Bairong Inc.
Ms. Sandy Qin, CFA, CMA, GradCG
Email: ir@brgroup.com

For media inquiries, please contact:
Bairong Inc.
Email: brmarketing@brgroup.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/bairong-wins-prestigious-esg-financial-innovation-award-leading-the-development-of-green-finance-302324604.html

SOURCE Bairong Inc.

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Seizing the Pulse of Fintech to Shape a New Chapter in Wealth Management — “Finloop 2025: Fintech Empowering Wealth Management” Hong Kong Annual Summit Set to Open

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HONG KONG, Dec. 6, 2024 /PRNewswire/ — As fintech continues its rapid evolution and the Web 3.0 era dawns, the wealth management industry is undergoing a profound transformation, presenting both opportunities and challenges. To explore how fintech empowers wealth management and shape a new paradigm for industry growth amid digital transformation, Finloop Finance Technology Holdings Limited (“Finloop”), a leading digital intelligent wealth management platform incubated by Fosun Wealth, will host the “Finloop 2025: Fintech Empowering Wealth Management” Hong Kong Annual Wealth Management Summit on December 12, 2024. This forum will convene industry experts and business leaders to discuss topics such as digital technology applications, blockchain, and intelligent investing. Together, they will share deep insights into the industry’s current state and emerging trends, offering forward-looking perspectives and practical guidance.

Industry Heavyweights Discussing the Future of Wealth Management

Renowned experts from across the sector will join the summit to explore the future of wealth management in the era of digital intelligence. Wang Qunbin, Executive Director and Co-Chairman of Fosun International, will deliver the opening address, setting the tone for discussions on the industry’s evolving landscape. Other distinguished keynote speakers include Mr. CHAN Ho Lim, Joseph, Under Secretary for Financial Services & the Treasury of the HKSAR, Professor Yang Wang, Vice-President of the Hong Kong University of Science and Technology, and Mr. Gan Tian, CEO of ChinaAMC (HK). Keynote speeches by these policymakers and industry leaders will delve into cutting-edge topics, presenting fresh perspectives on industry growth and innovative applications.

Fintech Unlocking New Wealth Management Opportunities

Amid the era of digital transformation, the wealth management sector is navigating unprecedented opportunities and challenges. The rise of fintech and the shift toward Web 3.0 have introduced dynamic forces of innovation into the industry. This summit will bring together experts from government and industry to focus on emerging tools and applications, evolving business models, risk management strategies, and future practices. Collectively, they aim to explore the future trajectory of the industry, crafting a visionary blueprint for Hong Kong’s wealth management landscape.

As the Cross-boundary Wealth Management Connect Scheme 2.0 in the Greater Bay Area gains momentum, a more open and liquid financial environment is poised to drive sustained growth and tap into new business opportunities in the wealth management sector. As a trailblazer in the field, Finloop is actively embracing this transformative shift. During the summit, the company will unveil its groundbreaking system, “FinOne”. This innovative digital solution is designed to deliver professional services to the wealth management industry in the Greater Bay Area, helping financial institutions better meet the policy requirements of Cross-Boundary Wealth Management Connect, foster business growth, and advance the practical application of transformative technologies.

Comprehensive Insights Shaping Industry Perspectives

The summit will feature two thematic forums, each dedicated to examining the far-reaching impact of digital and intelligent transformation on wealth management and its practical applications. The first forum, “Digital and Intelligent Transformation Empowering the Future of Global Asset Allocation,” will delve into how advanced and intelligent technologies are reshaping global asset allocation amid the wave of digital transformation. Discussions will focus on more efficient and precise asset allocation strategies, enhancing cross-border capital flows, and unlocking global investment opportunities.

In the era of RWA (real-world assets), the wealth management sector is embracing unparalleled opportunities for innovation. Traditional asset portfolio strategies and transaction models are being reimagined through digital frameworks, delivering unprecedented efficiency and liquidity. The second forum, “New Opportunities for Wealth Management in the Era of RWA,” will explore how digital frameworks can optimize asset portfolios, enhance management efficiency, unlock new avenues for asset transactions, and revolutionize asset allocation and circulation. Attendees will envision a new landscape for wealth management in the digital age, sparking a wave of asset management innovations.

By bringing together the collective wisdom of industry elites and the power of cutting-edge technology, the “Finloop 2025: Fintech Empowering Wealth Management” summit is set to act as a catalyst for the future of wealth management. Looking ahead, Finloop remains committed to driving innovation and fostering deep industry collaboration, leveraging advanced technologies to propel industry development and deliver personalized, forward-thinking solutions to clients. This steadfast commitment will further solidify Hong Kong’s position as a global leader in fintech.

About Finloop Finance Technology Holdings Limited

Finloop Finance Technology Holdings Limited (”Finloop”)is a leading digital wealth management platform headquartered in Hong Kong. It provides comprehensive wealth management products and technology solutions for various financial institutions, covering commercial banks, securities companies, cross-border e-commerce, family offices, wealth management companies, insurance brokerage companies, fund companies, etc. Through its proprietary technology platform, Finloop provides a full range of wealth management products including cash management, public funds, private funds, structured products, bonds, insurance and virtual assets.

Finloop holds a leading position in the financial technology sector in Asia. It has industry-leading research and development capabilities and solution implementation capabilities. It is currently the only financial technology service provider that can provide a one-stop wealth management platform and solutions. Finloop is committed to becoming customers’ most trusted wealth management partner and helping promote innovation and development of the wealth management industry.

View original content:https://www.prnewswire.com/apac/news-releases/seizing-the-pulse-of-fintech-to-shape-a-new-chapter-in-wealth-management–finloop-2025-fintech-empowering-wealth-management-hong-kong-annual-summit-set-to-open-302324608.html

SOURCE Finloop Finance Technology Holdings Limited

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