Razer Fintech and Franklin Templeton Teams up to Design Digital Wealth Tools for the Youth
Franklin Templeton through its Singapore subsidiary, Templeton Asset Management, and Razer Fintech, the financial arm of Razer Inc, announced that they had signed a Memorandum of Understanding to foster a strategic collaboration in digital wealth management innovation, targeting youth and millennials.
Through the collaboration, Razer Fintech and Franklin Templeton plan to jointly design and create what they described as a0″ next generation digital wealth management platform”, tailored specifically to the needs of Razer Fintech’s youth and millennial customers at various stages of their financial journey.
They said customers can look forward to digital wealth offerings in multi-asset solutions across theme-based and goals-based portfolios, regular savings plans, money market funds and other products and investment vehicles.
This collaboration aims to cater to the investment needs of next generation of investors who are looking to start their asset accumulation journey from an early age to maximise returns and benefits from the full power of compounding, as they plan for different milestones in their lives. In addition, it is also aimed at improving their financial literacy.
This collaboration will initially focus on key markets for both organisations in Singapore, Malaysia, Philippines and Vietnam with plans to scale up as Razer Fintech expands its fintech operations in other countries across the globe.
Both entities will leverage each other’s strengths and capabilities to develop solutions that address the needs of this growing demographic in the world’s population. They will also be using this collaboration as an opportunity to partner and co-invest in fintech startups.
Lee Li Meng, Chief Executive Officer at Razer Fintech said,
“We are incredibly excited to partner with a world class financial institution, Franklin Templeton, on this exciting journey as we expand our fintech offerings and global network and revolutionise the digital wealth management industry through innovative technology.
We look forward to leveraging Franklin Templeton’s deep expertise in investment solutions, global network and unparalleled track record as one of the world’s most forward-looking and innovative financial institutions.”
Dora Seow, Country Head for Singapore at Franklin Templeton said,
“We are proud to enter this strategic collaboration with Razer Fintech in Southeast Asia, the heart of the youth, technology and growth. The reach of Razer Fintech’s iconic brand amongst the youth and millennials aligns with Franklin Templeton’s desire to target the new generation of investors, with next-generation investment solutions."
In January 2020, Razer Fintech applied for a digital banking license, to be issued by the Monetary Authority of Singapore. This application aligns with Razer Fintech’s vision to extend its fintech offerings into digital banking services by building a global youth bank, Razer Youth Bank, while exploring further jurisdictions in parallel to build its regional and global network progressively.
Source: Fintech News Singapore