Saxo Bank wins Best Use of IT in Private Banking / Wealth Management in the Banking Technology Awards 2018

Saxo Bank, the leading fintech specialist focused on multi-asset trading and investment, has today announced that it has won Best Use of IT in Private Banking/Wealth Management in the Banking Technology Awards 2018.

The Banking Technology Awards recognise excellence and innovation in the use of IT in financial services worldwide and allow entrants to prove the value of their technology investments, showcasing their skills, commitment, creativity and execution.

The award was given to Saxo for its triparty collaboration with OCBC Bank, one of Singapore’s top three retail banks, and WeInvest, a digital wealth service provider across Asia and the Middle East, for its efforts to make quality wealth management advise and solutions more accessible and inclusive for all customers and radically transform how they engage with their investments. The service, known as RoboInvest, is a guided investment journey for first time investors and tech-savvy millennials to invest in stock and ETF portfolios as well as thematic baskets across six markets in South East Asia.

As the execution and custody partner, Saxo provides OCBC Bank with access to its leading capital markets infrastructure which is accessed through Saxo’s award-winning OpenAPI, ensuring hassle-free, quick time to market as well as cost savings. Saxo also provides the technology for automated allocation and rebalancing in addition to the tools to ensure efficient client on-boarding with direct plug-in to their CRM for real-time account opening.

Commenting on the win, Global Head of Wholesale Business, Henrik Alsoe, Saxo Bank said, “We are extremely pleased to have won this coveted industry award which recognises our collaboration with OCBC Bank and WeInvest. We are excited to be working with these two leading companies, while demonstrating our ability to facilitate access to unparalleled trading and investment opportunities in global capital markets across asset classes.”

Adding to this, Mr Aditya Gupta, Head of E-Business, OCBC Bank said, “Through the digitalisation of wealth management, we have taken another leap towards democratising wealth access - OCBC RoboInvest, developed with WeInvest and Saxo Bank, empowers customers to get started on their investment journeys and grow their wealth in a simple, smart and self-directed way. We are confident that this new digital investment platform will further engage core investor segments and will radically transform how customers engage with their investments.”