Razer FinTech and Franklin Templeton announce Collaboration to Design Digital Wealth Tools for Youth
Franklin Templeton has announced that it has signed a Memorandum of Understanding (MoU) with Razer FinTech, the financial arm of Razer, to collaborate in the development of digital wealth management strategies targeting youth and millennials.
The collaboration is reportedly to facilitate the design and development of a “next generation digital wealth management platform,” reports FinTech News Singapore, which will aim to specifically address the needs of Razer FinTech’s youth and millennial customers at various stages of their financial journey.
The two companies have reported that customers can look forward to having access to digital wealth offerings in multi-asset solutions across theme-based and goals-based portfolios, reads the article, as well as regular savings plans, money market funds and other products and investment vehicles.
The collaboration is said to be looking to cater to those investors in the next generation who are looking to begin to invest at a young age to maximise returns and capitalise on the benefits of compounding, helping them to plan and prepare for various milestones in their lives. The collaboration is also said to be aiming to improve financial literacy, said the FinTech News article.
This collaboration will initially focus on key markets for both organisations in Singapore, Malaysia, Philippines and Vietnam, and will contribute to Razer FinTech’s plans to bolster its presence globally.
Through the MoU, both firms will leverage each other’s strengths to develop solutions to address this demographic’s needs, as well as cooperating to co-invest in FinTech start-ups.
Lee Li Meng, Chief Executive Officer, Razer FinTech, said: “We are incredibly excited to partner with a world class financial institution, Franklin Templeton, on this exciting journey as we expand our fintech offerings and global network and revolutionise the digital wealth management industry through innovative technology. We look forward to leveraging Franklin Templeton’s deep expertise in investment solutions, global network and unparalleled track record as one of the world’s most forward-looking and innovative financial institutions.”
Dora Seow, Country Head, Singapore, Franklin Templeton, said: “We are proud to enter this strategic collaboration with Razer Fintech in Southeast Asia, the heart of the youth, technology and growth. The reach of Razer Fintech’s iconic brand amongst the youth and millennials aligns with Franklin Templeton’s desire to target the new generation of investors, with next-generation investment solutions.”
Razer FinTech also recently applied for a digital banking license, aligning with the firm’s ambitions to further grow its FinTech offering by moving into the digital banking services space, with the aim to build a global youth bank, christened the ‘Razer Youth Bank,’ as well as bolstering its regional and global network progressively.