U.K.-based global investment manager Schroders bolstered its financial technology capacity by acquiring a stake in a Singaporean digital wealth services firm.
Schroders will acquire a minority stake in WeInvest, a Singapore-based digital wealth services company. Founded in 2015, the fintech firm provides end-to-end platforms for banks, asset managers, wealth managers and independent financial advisers.
Completion of the investment is expected for June 2018, Schroders said in a statement. Financial details of the transaction have not been disclosed.
Digital Evolution
«We believe this investment opens up opportunities for closer collaboration with our distributors, through a platform that enables them to tailor solutions for their clients,» said Susan Soh, CEO Singapore at Schroders.
In December, the company launched Schroders GO, an online chatbot operating through Facebook messenger. Schroders claims it is the first asset manager in Singapore to digitize the investor service experience.
The chatbot allows clients to access information on any fund as well as market information at anytime of the day without having to download an app.
