Thailand

Lu International and Kasikornbank announce Strategic Collaboration

Lu International and Kasikornbank have reportedly forged a partnership to establish an online wealth management platform in Thailand.

Lu International, a unit of China’s Lufax, an online wealth management platform backed by Ping An Insurance Group, and Kasikornbank will jointly operate the new digital platform, according to an article by Private Banker International, which will be made available to Thai retail investors.

The platform could also allow Lu International to expand its presence in the country, acting as a point of entry into the market.

The platform, named Lu Global, will allow customers 24/7 access to multiple investments, with the platform to leverage Lufax’s cloud-exporting model.

The new platform includes a risk management system with KYC and KYP parameters, and also includes AML and anti-fraud systems, according to the article.