Singtel and UOBAM introduce a customized mobile robo-adviser for Dash customers. The robo-adviser, leveraging technology, data analysis and algorithm-based tools, will be able to provide advice on investment products personalized to the customer, making digital investments more accessible to consumers, and empowering them to grow their wealth simply and smartly. This paves the way for Dash to make its foray into wealth management and furthers its goals of digital and financial inclusion by expanding the app’s range of mobile financial services offerings. This differentiated robo-advisory service is the first collaboration of its kind between a non-banking mobile wallet and an established regional asset management firm. Dash customers will be able to invest in a portfolio of Exchange Traded Funds (ETFs), managed funds and/or other asset classes within the Dash app.
Investment portfolios offered through the robo-adviser will be highly personalized based on the customers’ risk profile, investment horizon and financial goals. Robo-advisory services are growing in demand as they offer greater convenience and access to individual investors. The assets under management in Singapore for the robo-advisers segment is projected to grow by an annual rate of 25.3% from US$1.06 billion in 2020 to US$2.62 billion by 2024. Users in this segment are expected to increase from about 104,900 this year to 192,500 by 2024, an increase of over 83%. Robo-adviser is expected to launch by the first half of 2021. Singtel and UOBAM will also explore opportunities to offer robo-advisory and other investment solutions through Singtel’s associates in the region, given the extensive presence of both companies in Asia including Indonesia and Thailand.