The Point Zero Forum is more than just a series of dialogues, it is a catalyst for innovation and a hub for business collaborations that transform industries. We spotlight one such partnership that took root at the Point Zero Forum 2022 - between Kenanga Investment Bank and Ant Group Digital Technologies.
Kenanga, the largest independent investment bank in Malaysia, is helmed by Group Managing Director, Datuk Chay Wai Leong. The bank holds a strong reputation for fostering agile collaborations, championing trust, and maintaining a future-oriented perspective. These attributes were on display when Datuk Chay encountered Derrick Loi, General Manager of International Business at Ant Group Digital Technologies during the Point Zero Forum 2022.
The meeting resulted in a shared vision to revolutionise the wealth management sector. This vision brings together Kenanga's five-decade experience in wealth management and Ant Group’s comprehensive technical expertise to create an innovative financial solution.
This strategic collaboration led to the development of Malaysia’s first wealth-centric 'Super App', leveraging Ant Group Digital Technologies' Mobile Platform as a Service ("mPaaS"). This new digital platform brings together the best of Kenanga’s and its partners’ products and services to the fingertips of customers in a simple, easy to use mobile app. It provides a single view of a customer’s portfolio across all accounts and holdings, along with easy on-boarding for new products and services. Future products include unit trusts or mutual funds, options and futures, derivatives, forex, as well as insurance. Kenanga intends to launch the Kenanga Wealth Super App this year.
Datuk Chay noted, “Our strategic relationship with Ant blends the best of Kenanga’s fifty years of wealth management experience with Ant’s deep technical expertise to build Kenanga’s Wealth Super App, the first of its kind wealth-focused service in Malaysia and the region.”
Within a year, the chance meeting at the Point Zero Forum resulted in a functional prototype. This achievement underscores the power of serendipitous connections and the aligned visions of attendees.
Reflecting on the experience, Datuk Chay added, “One of the biggest takeaways from the first Point Zero Forum was meeting many like-minded people working to solve the challenges of modern finance and wealth creation, and I look forward to this year’s conversations.”
As we prepare for the next edition of the Point Zero Forum, we look forward to fostering more partnerships and contributing to the ongoing evolution of the financial sector.
The Point Zero Forum 2023 will be held from 26 - 28 June, in Zurich, Switzerland.