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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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Omdia: Small medium OLED shipment to hit 1 billion units for the first time in 2025

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LONDON, Dec. 4, 2024 /PRNewswire/ — New data from Omdia has revealed that OLED (Organic Light-Emitting Diode) technology, which began with small displays under 10 inches two decades ago, is set to reach new heights in 2025. With advancements in technology, capacity and cost, OLED is poised for significant growth. Over the years, OLED has outperformed LCD displays in key areas such as color saturation, slimness, weight, flexibility and contrast. These advantages have accelerated the transition from LCD to OLED, particularly as production scales expand, especially in China.

According to Omdia’s latest OLED Display Market Tracker, small to medium OLED shipments are expected to surpass one billion units for the first time. The milestone includes displays ranging from 1-inch to 8-inch, covering a wide array of applications such as game consoles, AR/VR/MR headsets, near eyeglasses and head-mount displays, automotive displays, smartphones, sub displays, smartwatches and industrial displays.

OLED technology has seen significant growth in the smartphone market, driven by China OLED makers such as BOE, ChinaStar, EverDisplay, Visionox and Tianma as along with the vast technological advancements from Korean giants Samsung Display and LG Display. Additionally, OLED displays are expanding into the new applications including AR/VR and automotive displays.

David Hsieh, Senior Research Director, Displays in Omdia highlights, “Despite its higher cost and more complex manufacturing, OLED has proven ideal for small to medium displays due to its slim design, lightweight, excellent picture quality, efficient power consumption and flexibility. Beyond replacing TFT LCDs in these applications, OLED enables  innovative form factors like ultra-lightweight and foldable designs. Shipments of small to medium OLED display are projected to peak 1 billion units in 2025.”

Conversely, display manufacturers are refining OLED production processes while scaling up capacity scale with innovations such as Gen8.6 fabs, LTPO+ backplane, COE, fingerprint-on-display technology, under display cameras, hybrid OLEDs, Tandem RGB OLEDs, mask-less OLED photolithographic deposition and ink jet printing. These new developments aim to elevate OLED’s value proposition beyond mere volume growth.

Hsieh added, “However, new players are beginning to challenge the dominance of OLED. Samsung Display and LG Display have introduced stretchable Micro LED displays, while display manufacturers like AUO and Tianma are initiating mass production of small to medium Micro LED displays, supported by gradual improvements in cost and product readiness. After reaching its peak, small to medium OLED displays are expected to enjoy a golden era lasting for decades, though they may eventually be overshadowed by the emergence of Micro LED Display.”

ABOUT OMDIA
Omdia, part of Informa TechTarget, Inc. (Nasdaq: TTGT), is a technology research and advisory group. Our deep knowledge of tech markets combined with our actionable insights empower organizations to make smart growth decisions.

Contact: Fasiha Khan / fasiha.khan@omdia.com

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Delta Force New First-Person Shooter from the Team Behind Call of Duty: Mobile Now Available

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Free to Play PC Multiplayer Campaign Now Available on Steam; iOS, Android and Google Play Games on PC Launches Jan. 20; Black Hawk Down Campaign Follows Shortly After  

LOS ANGELES, Dec. 5, 2024 /PRNewswire/ — Mission launch! Team Jade today released their highly-anticipated multiplayer Open Beta for first-person tactical shooter Delta Force. Following a successful Steam Next Fest reception, where Delta Force was the 4th most wishlisted title and topped all three Steam Next Fest charts, Team Jade is excited to bring more expanded content such as new weapons and Operators, unique maps, engaging missions and more to the multiplayer campaign. 

 

Watch the Black Hawk Down Teaser Now

“The entire team at Team Jade is proud to release our vision for Delta Force upon the world,” said Shadow Guo, Game Director of Delta Force. “We’re truly excited to jump in with gamers across the globe in this exciting new shooter, who we hope will have as much fun playing the game as we had making it.”

Available at launch with Season Genesis, Delta Force will feature a diverse roster of multiplayer modes, a deep and customizable weapons arsenal, top notch graphics and more. An action-packed single-player/co-op campaign will be arriving in January of 2025. Furthermore, Delta Force will be available on the App Store, Google Play Store, and Google Play Games on PC January 20, 2025 with pre-registration begins today.

Get Delta Force Now

The PC Open Beta includes both multiplayer modes, including:

Warfare: A 32v32 player game mode where teams battle across massive maps of authentic terrain, utilizing a range of authentic and satisfying weapons and equipment, as well as military vehicles such as tanks and aircraft, to take on the enemy across the large objective-laden battlefields.Operations: Form a squad of three to take on rival teams and marauding AI-controlled mercenaries. Random events across huge mission-based maps will keep players on their toes, as they work together through PvE-focused missions full of valuable loot. 

For more information about Delta Force visit our official website and YouTube channel, with additional updates found on X, Facebook, Instagram, and TikTok.

About Delta Force

Delta Force is the upcoming free-to-play tactical shooter that is the next installment of the beloved Delta Force series, which will feature large-scale multiplayer modes, as well as an action-packed single-player/co-op campaign, a deep weapons arsenal for customization, and more. Delta Force PC Open Beta launches on December 5th and players can join the fray by getting the game for free via its website, Steam and Epic Games Store pages. Players can now also pre-register on the App Store, Google Play Store, and Google Play Games on PC for the January 20, 2025 launch.

About Team Jade

Team Jade is a notable branch of TiMi Studio Group renowned for Call of Duty: Mobile and Assault Fire, the latter being the most popular Chinese shooter game on PC for the past decade. With a roster of hundreds of industry veterans, the team has garnered multiple prestigious accolades, including BAFTA and TGA awards.

Video – https://www.youtube.com/watch?v=bLim7pmoAZc 

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/delta-force-new-first-person-shooter-from-the-team-behind-call-of-duty-mobile-now-available-302323264.html

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Korea Legal Industry Veteran Robert Surh Joins TransPerfect Legal

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NEW YORK and SEOUL, South Korea, Dec. 4, 2024 /PRNewswire/ — TransPerfect Legal, the global leader in legal technology, AI, and advisory services, today announced the hiring of Robert Surh as a Director in the company’s APAC region. Based in Seoul, Surh’s addition strengthens TransPerfect Legal’s presence in Korea and underscores its commitment to the region.

In his new position, Surh will take responsibility for the growth of TransPerfect Legal’s technology, services, and advisory offerings across Asia, with a particular emphasis on South Korea and neighboring markets. With over two decades of experience spanning litigation, corporate law, forensic consulting, and global account management, Surh’s expertise will have an immediate positive impact on clients.

Surh began his career as a US-licensed attorney, where he gained first-hand litigation experience. He honed his skills at prestigious law firms, managing complex federal and state commercial class action and mass tort cases. He later transitioned to corporate law, where he held the role of General Manager of Foreign Litigation at LG Electronics and Chief Legal Counsel of Foreign Legal Affairs at E.Land World Co., Ltd. Surh also served as Head Counsel and Director at Deloitte Anjin, LLC, followed by a Director role at AlixPartners, which further expanded his consulting and advisory skills.

Surh commented, “As a leader in legal technology, digital forensics, and language services, TransPerfect’s cross-border value proposition is the best there is, particularly in APAC where language and regulations can differ dramatically. I am excited to join the growing team and continue TransPerfect Legal’s expansion across the Asia-Pacific region.”

TransPerfect President and Co-CEO Phil Shawe stated, “It is my honor to welcome Robert Surh to the TransPerfect team. Our clients in Korea, and throughout all of APAC, will benefit greatly from his experience and expertise.”

About TransPerfect Legal
TransPerfect Legal is a global leader in legal technology, AI, and advisory services for Am Law 200 and Global 100 law firms as well as corporate legal departments. With offices in more than 140 cities worldwide, solutions include forensic technology and consultingeDiscovery and early data assessmentmanaged review and legal staffinglanguage servicesdeposition and trial support, and paper discovery, all offered alongside the Reef Technology ecosystem, TransPerfect Legal’s suite of proprietary applications that address the needs of legal and regulatory practitioners around the world. For more information, please visit www.transperfectlegal.com.

About TransPerfect
TransPerfect is the world’s largest provider of language services and AI solutions for global business. From offices in over 140 cities on six continents, TransPerfect offers a full range of services in 200+ languages to clients worldwide. More than 6,000 global organizations employ TransPerfect’s GlobalLink® technology to simplify the management of multilingual content. With an unparalleled commitment to quality and client service, TransPerfect is fully ISO 9001 and ISO 17100 certified. TransPerfect has global headquarters in New York, with regional headquarters in London and Hong Kong. For more information, please visit our website at www.transperfect.com.

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