51 MANAGING OUR KEY ESG RISKS GOOD GOVERNANCE SUSTAINABLE ECONOMIC GROWTH ENVIRONMENTAL STEWARDSHIP EMPOWERING PEOPLE AND COMMUNITIES APPENDIX Digitalisation in Product and Services Greater Product Accessibility for Financial Inclusion We believe in advancing financial inclusion through digitalisation by embracing technological advancements and innovation. This approach aims to increase clients’ access to financial products and reach the underserved market segments. Innovative Product Platforms Our financial solutions platform continues to transform how clients manage their transactions. Prioritising user-friendly interfaces and security, we strive to provide tailored services for convenience and efficiency. Planned Initiative Key Highlights SuperApp We entered into a Memorandum of Understanding with Ant Group to create Malaysia’s first Wealth SuperApp in 2022. The SuperApp will serve as a central platform for our financial, and wealth solutions, which will be complemented by lifestyle offerings. Utilising AntChain’s state-of-the-art mobile Platform as a Service, the SuperApp is nearing completion and is ready to support our financial products including Single Customer Portfolios, Single Onboarding and integrated e-KYC which is expected to launch in 2024. Wealth-as-a-Service (“WaaS”) Along with the SuperApp, the upcoming introduction of WaaS to our ecosystem partners will allow our suite of wealth services to be embedded onto their platforms for their audiences at a swift go-to-market pace. It is anticipated that this will debut alongside the SuperApp in 2024. Treasury FX Platform This platform is aimed at empowering clients to conduct online foreign currency trades and transfer funds internationally. Our target for the official launch of the platform is set for 2024, following enhancements to user experiences. Product Key Highlights in 2023 Kenanga Digital Investing (“KDI”) Fully automated AI-driven robo-advisor aimed at simplifying the saving and investment process was introduced in 2022. Licensed by the Securities Commission Malaysia, the KDI platform offers two (2) convenient products – KDI Save and KDI Invest. KDI Save offers daily returns on savings with no lock-in or management fees, while KDI Invest enables wealth growth through access to global investment opportunities via US-listed Exchange Traded Funds (ETFs) at competitive fees. Total Assets Under Management of over RM235 million, serving 23,396 clients. Rakuten Trade Rakuten Trade Sdn Bhd (“Rakuten Trade”) is a joint venture between Kenanga and Japan-based Rakuten Securities Inc. has introduced the ease and access of online stock trading to hundred thousand of new traders and investors. In addition to introduction of trading access into the US market, foreign trading capabilities also include Hong Kong Exchange and US Fractional Share Trading, allowing Malaysian users a seamless and cost-effective option to further diversify their portfolio. A total of 19,410 new users signed up on Rakuten Trade in 2023, bringing the total customer base to more than 276,163. Over RM125 billion worth of stocks have been transacted since its inception in 2017. Kenanga Money Through partnership with Merchantrade Asia Sdn Bhd (“Merchantrade”), Kenanga entered the cashless payment sector through its first e-wallet platform, allowing its clients to move money from their stock trading account into an e-wallet with a prepaid card for retail payments, remittances, and withdrawals globally. Users also benefits from Merchantrade’s innovative multi-currency capability, which allows users to buy, sell, and keep up to 20 foreign currencies at any time at competitive exchange rates. Over 750 sign-ups since its release in 2020. In 2023, a total of over RM44,000 retail transactions were made via this platform. SUSTAINABLE ECONOMIC GROWTH
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