PETALING JAYA: Kenanga Investment Bank Bhd has entered into an agreement with AntChain Technology Pte Ltd, part of the Ant Group, to build Malaysia’s first wealth superapp using AntChain’s proprietary mobile platform solution.
This agreement follows from its recent memorandum of understanding with AntChain.
Kenanga’s superapp aims to help Malaysians save and grow their wealth through its interactive platform – one that delivers competitive financial products transparently, enabled by its experience in wealth creation and in today’s technology.
Kenanga group managing director Datuk Chay Wai Leong (pix) said the superapp will integrate a spectrum of financial and wealth offerings under one easy-to-access ecosystem, transforming how Malaysians view and approach wealth creation.
“A big part of Kenanga’s superapp success will ride on our ability to deliver a seamless and engaging digital customer experience. This is primarily the reason Kenanga is adopting AntChain’s mPaaS solution because it allows us to rapidly evolve the superapp to keep up with changing needs of our customers and react quickly in today’s fast-changing world,” Chay said in a statement today.
AntChain’s proprietary solution, known as the Mobile Platform as a Service (mPaaS), is a product which originated from Alipay app and a one-stop mobile app lifecycle management solution that will enable Kenanga to realise its superapp ambitions. The mPaaS product has been trialed and tested by numerous e-commerce and e-wallet brands around the region.
Ant Group Digital Technologies is a global leader in blockchain, privacy computing, security technologies and distributed databases.
The superapp will extend the suite of digital products that Kenanga has rolled out, from online stock trading platform Rakuten Trade to Kenanga Digital Investing, a robo-advisor that has amassed more than RM250 million in asset under management since its launch in February 2022.
