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.”
Saxo Bank Group (Saxo) is a leading Fintech specialist focused on multi-asset trading and investment and delivering ‘Banking-as-a-Service’ to wholesale clients.
For 25 years, Saxo’s mission has been to democratize investment and trading, enabling clients by facilitating their seamless access to global capital markets through technology and expertise.
As a fully licensed and regulated bank, Saxo enables its direct clients to trade multiple asset classes across global financial markets from one single margin account and across multiple devices. Additionally, Saxo provides wholesale institutional clients such as banks and brokers with multi-asset execution, prime brokerage services and trading technology, supporting the full value chain delivering Banking-as-a-Service (BaaS).
Saxo’s award winning trading platforms are available in more than 20 languages and form the technology backbone of more than 100 financial institutions worldwide.
Founded in 1992 and launching its first online trading platform in 1998, Saxo Bank was a Fintech even before the term was created. Headquartered in Copenhagen Saxo today employs more than 1500 people in financial centers around the world including London, Paris, Zurich, Dubai, Singapore, Shanghai, Hong Kong and Tokyo.