Financial services

Kenanga partners with Ant Group to develop awesome financial services app

Malaysia’s largest independent investment bank, Kenanga, has tapped China’s Ant Group for its mobile development platform as the company seeks to launch a wealth management and financial services super app.

Kenanga partners with Ant Group to launch awesome financial services app

The super-app, Malaysia’s first according to Kenanga, will be powered by Ant Group’s mobile-as-a-service (mPaaS) platform and will combine stock trading, digital investment management, an e-wallet, crypto trading and forex capabilities. .

Kenanga Investment Bank Group Chief Executive, Datuk Chay Wai Leong, said the company plans to unify a wide range of financial offerings under one roof while making “wealth creation more accessible by democratizing financial services for the millions of Malaysians across the country”.

After spending a year designing the app, the bank signed a memorandum of understanding (MoU) with Ant Group’s digital technology unit “to develop this platform and bring it to life”, adds Datuk Chay .

The super-app is the latest digital product launched by Kenanga since it began its digital transformation journey five years ago, with an online stock trading platform and robo-advisor already launched.