SINGAPORE (Mar 29): SaxoInvestor, a digital platform providing access to investments, is set to hit Singapore tomorrow.
Operated by Danish investment bank, Saxo, the platform caters to a growing segment of retail investors both in Singapore and worldwide.
Built on the latest, front-end technologies and comprehensive client feedback, users can view and toggle between stocks, ETFs and mutual funds and bonds.
With access to over 26,000 cash products, ranging from 18,000 stocks, 3,000 ETFs and 5,000 bonds, investors can have a more diversified portfolio and “unlock a better future as their annual savings and returns could well translate into access to a better quality of life”, according to Kim Fournais, the bank’s CEO and founder.
The platform is also accessible on mobile apps, tablets and laptops.
SaxoInvestor is a step further than Saxo’s exisiting SaxoTraderPro and SaxoTraderGo, as it is catered to the masses, unlike the other two which target investors who already have substantial financial and investing background.
The platform’s unique selling point is the thematic categorisation of its products. They cover a wide spectrum, ranging from electric vehicles and battery technology to robotics and automation, renewable energy and cybersecurity.
This complements the traditional categories such as yields and mutual funds.
The Singapore platform, the bank’s first launch out of Denmark, will have customised, “localised” features, with “Asian-specific themes” such as “ageing gracefully”, to better-reach out to the Singapore investor.
“We wanted to ensure that the platform is user-friendly and attractive to our clients. That is why we made sure that the themes are interesting, diverse and most importantly, of relevance to our user”, says Adam Reynolds, the bank’s CEO for the Asia Pacific region.
Another feature is the “managed portfolios” section that caters to the more prudent, less financially-savvy investor. It allows users to invest in stocks that fit their profile a managed account set up, based on the advice given by professional stock brokers. “This feature gives clients access to the most relevant global markets and solutions” according to Fournais.
To date, the platform is only operational in Denmark, where it has been accessible for slightly over six months. Fournais and Reynolds say that their client base has been increasing 10-fold per month since the launch; currently some 6,000 investors use this platform.
Saxo anticipates “a significant pickup in the number of users in Singapore”, following the launch, especially as they have been “enjoying tremendous growth in the number accounts set up per month in 2017, 2018 and in the first few months of 2019”. Their confidence comes from a stringent “Know Your Client” process they go through, ensuring that they have a good understanding of each clients’ investment aptitude and appetite.
Saxo is going a step further with the platform by offering it as a White Label solution for other banks to leverage on their techonology, market access and innovation by adding their name and branding on the platform. They are in talks with collaborating with other banks on this, with Finish Bank Mandata being the first to come on board. Asian banks, brokers and insurers have shown interest, but their identities cannot be disclosed for now, according to Reynolds.
