WeLab Bank, a digital bank specializing in creating intelligent banking services, just launched GoWealth Digital Wealth Advisory, making it the first entirely digital bank in Asia to do that without the assistance of traditional banking organizations in major Asian countries (GoWealth).
WeLab Bank creates a new realm of virtual banking by fusing the strength of people with the strength of fintech. It has developed a digital-first and digital-only bank using the most advanced mobile technology and the brightest financial minds to make banking easy, quick, sociable, and enjoyable. Since there are no physical branches, a huge amount of money is saved and passed on in the form of better rates, greater flexibility, and more intelligent ways to grow your money. We use technology and behavioral science to make your financial goals a reality at your fingertips.
With an end-to-end strategy, GoWealth integrates the FinTech ability of WeLab Bank with the investment know-how of Allianz Global Investors (AllianzGI), one of the world’s top asset management companies; enabling users to attain their financial goals “autopilot.”
A wealth advisory service with goals is called GoWealth. An end-to-end advice procedure, which includes financial planning, investment portfolio suggestions, fund transfers, and tracking of financial goals, connects the entire investing experience with customers’ goals. All of this is done within the WeLab Bank app.
Tat Lee, the CEO WeLab Bank, stated, “Most of the existing wealth management services focus on high-net-worth customer segments; some relationship managers cease following up and stop tracking investment performance after customers buy investment products. Understanding these pain points, WeLab Bank is determined to digitalize and democratize wealth advisory through GoWealth. By providing goal-based end-to-end investment, we are enabling everyone to get easy access to professional financial advisory in our mobile app. On this occasion, by launching GoWealth, we are proud to become Asia’s 1st purely digital bank to launch a digital wealth advisory solution1. We envisage that GoWealth will raise the bar for the wealth management industry and mark an important milestone for the entire banking industry.”
GoWealth regularly updates the “chance of success” to help consumers better understand the risks and equip them with risk management tools. It monitors the status of customers’ financial objectives and keeps them on track with intelligent alerts so they can manage their portfolios at their fingertips and prosper in any market environment.
Philip Tso, Head of Institutional Business, AllianzGI, commented, “We are excited to collaborate with WeLab Bank and deliver our expertise to more customer segments through fintech. GoWealth relies on the extensive portfolio simulation methodology and AllianzGI’s expertise in investment management. We believe we can work with WeLab to help democratize digital wealth management solutions for more customers in the city, helping them achieve their financial goals and needs.”