Fintech PR
Robo-Revolution in the Kingdom: KSA Robo-Advisory Market Zooms Ahead at 48% CAGR, Fueled by Tech Adoption and Millennials’ Power: Ken Research
GURUGRAM, India, Feb. 26, 2024 /PRNewswire/ — The Kingdom of Saudi Arabia’s wealth management landscape is experiencing a transformative shift, fueled by the rise of robo-advisors and the growing tech-savvy population. Ken Research’s insightful report, KSA Robo-Advisory in Wealth Management Market: Investing in the Future, delves into this dynamic market, projecting a remarkable 48% CAGR over the next five years. This press release summarizes the key findings and offers valuable insights for investors, financial institutions, and stakeholders seeking to capitalize on this flourishing trend.
Market Overview:
Several key factors are propelling the KSA robo-advisory market towards an automated future:
- Millennial Power: The growing millennial population, comfortable with technology and seeking low-cost investment solutions, is driving the demand for robo-advisors.
- Tech Adoption: Increasing internet and smartphone penetration, coupled with government initiatives like Vision 2030, creates a fertile ground for digital investment platforms.
- Financial Inclusion: Robo-advisors offer low minimum investments and personalized advice, making wealth management accessible to a wider audience.
- Affordability and Transparency: Automated algorithms and lower fees compared to traditional advisors make robo-advisors an attractive option for cost-conscious investors.
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Segmentation Spotlight:
Ken Research provides a detailed segmentation of the market, allowing you to pinpoint your target audience effectively:
- By Investment Type: Equity, fixed income, and hybrid portfolios are the primary offerings, with niche segments like Sharia-compliant investing emerging.
- By Target Client: Retail investors dominate, but robo-advisors are also targeting high-net-worth individuals and institutional investors.
- By Technology: Algorithmic-based robo-advisors hold the largest share, but hybrid models combining human expertise and AI are gaining traction.
- By Distribution Channel: Direct-to-consumer platforms are popular, but partnerships with banks and wealth managers are becoming increasingly common.
Competitive Landscape:
The KSA robo-advisory market features a mix of established players and innovative newcomers:
- Global Giants: International players like Stash Away and Nutmeg are entering the market with their global expertise and advanced technologies.
- Regional Powerhouses: Homegrown players like Sarwa and AlRajhi Bank’s “Sadeem Invest” offer localized solutions and cater to specific market needs.
- Fintech Startups: Agile startups are disrupting the market with niche offerings, focusing on specific investment strategies or targeting millennial investors.
Recent Developments:
- Regulatory Sandbox: The Saudi Arabian Monetary Authority (SAMA) has established a regulatory sandbox to facilitate innovation and support the growth of new robo-advisor platforms.
- Open Banking Initiatives: Open banking APIs enable collaboration between robo-advisors and traditional institutions, offering a wider range of investment options and data-driven insights.
- Focus on Investor Education: Financial institutions and regulators are collaborating to educate investors about robo-advisors and promote responsible investment practices.
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Future Outlook:
The KSA robo-advisory market is poised for exciting developments in the coming years:
- Personalization and Customization: AI-powered platforms will offer hyper-personalized investment strategies and wealth management advice.
- Integration with Fintech: Robo-advisors will integrate with other fintech solutions like robo-retirement and budgeting tools, creating holistic financial management experiences.
- Focus on Sustainability: Environmentally and socially responsible investing (ESG) options will become increasingly available through robo-advisors.
- Expansion into Emerging Segments: Robo-advisors will target new segments like Islamic wealth management and micro-investing.
Challenges to Address:
Despite its promising future, the market faces some hurdles:
- Consumer Trust: Building trust in automated investment platforms and overcoming the “black box” perception remain crucial challenges.
- Cybersecurity Concerns: Robust cybersecurity measures are essential to protect sensitive financial data and ensure investor confidence.
- Regulatory Uncertainty: Navigating the evolving regulatory landscape can be challenging for new entrants.
Why This Report Matters:
This report empowers various stakeholders to navigate the KSA robo-advisory market:
- Investors: Identify the right robo-advisor platform based on their investment goals, risk tolerance, and financial literacy level.
- Financial institutions: Understand the competitive landscape, develop their own robo-advisory offerings, or partner with existing platforms.
- Fintech startups: Identify niche opportunities, develop innovative solutions, and navigate the regulatory environment effectively.
- Policymakers: Develop policies that foster innovation, promote investor protection, and ensure a level playing field in the market.
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Taxonomy
By Type
- Hybrid Robo Advisors
- Pure Robo Advisors
By Age-Group
- 19-28 years
- 29-38 years
- 39-45 years
- 45+ years
By Region
- Riyadh
- Makkah
- Eastern Region
- Others
By End User
- Retail Investor
- High Net Worth Individuals
For More Insights On Market Intelligence, Refer To The Link Below: –
KSA Robo Advisory in Wealth Management Market
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PALO ALTO, Calif., Jan. 15, 2025 /PRNewswire/ — BitGo, the leading digital asset infrastructure solutions provider since 2013, is pleased to announce that Brett Reeves has been appointed Head of European Sales, a role he takes on in addition to his existing position as Head of Go Network. His new title is Head of Go Network and European Sales.
Brett joined in May 2024 and has since then overseen the expansion of BitGo’s presence in Europe, which includes onboarding new clients and partners and expanding the volume and scope of business across multiple jurisdictions within the European Union and UK.
Brett Reeves, Head of Go Network and European Sales, said:
“Since joining BitGo last year, it has been an intense and rewarding journey. Alongside growing the business our focus has been on obtaining the necessary licenses to achieve MiCA compliance, ensuring we are fully prepared for a comprehensive rollout of our Custody, Wallets, Staking, Trading and Financing services across Europe. With a growing team and increasing demand for secure, well-regulated digital asset solutions, we are highly optimistic about the opportunities 2025 holds for us.”
Brett has twenty years’ experience in the financial services industry having worked at Citibank, Nomura and Standard Chartered Bank. His background includes working within Prime Brokerage and OTC teams within the FX and interest rates markets. Most recently Brett was the Head of Business Development at the Bequant, a regulated digital asset Prime Broker.
About BitGo
BitGo is the leading infrastructure provider of digital asset solutions, offering custody, wallets, staking, trading, financing, and settlement out of regulated cold storage. Founded in 2013, BitGo is the first digital asset company to focus exclusively on serving institutional clients. BitGo is dedicated to advancing a digital financial services economy that is borderless and accessible 24/7. With multiple Trust companies around the world, BitGo is the preferred security and operational backbone for more than 1,500 institutional clients in 50 countries, including many of the world’s top brands, cryptocurrency exchanges, and platforms. BitGo also secures approximately 20% of all on-chain Bitcoin transactions by value and is the largest independent digital asset custodian.
W: https://www.bitgo.uk/
L: https://www.linkedin.com/company/bitgo/
X: https://x.com/BitGo
View original content:https://www.prnewswire.co.uk/news-releases/bitgo-appoints-brett-reeves-as-head-of-european-sales-complementing-his-go-network-role-302350962.html
SINGAPORE, Jan. 15, 2025 /PRNewswire/ — Markel, the insurance operations within Markel Group Inc. (NYSE: MKL), today announced that Wanshi Lin has been appointed as the Head of Singapore, effective immediately.
In this newly created position, Lin will oversee the company’s underwriting team in Singapore and spearhead business planning and market engagement on the company’s Lloyd’s Singapore platform. The establishment of a new leadership role in Singapore is demonstrative of Markel’s ongoing commitment to expanding its Asia Pacific operations and underwriting capabilities.
Lin will report to Christian Stobbs, Managing Director – Asia Pacific, in her new capacity.
Stobbs commented: “I’m thrilled about the energy and innovative ideas Wanshi will bring to this pivotal role. Singapore is our largest marketplace in the region for specialty products, and I’m confident that, under her leadership, we’ll further enhance our relationships with brokers and clients while building on the strong momentum achieved in recent years.”
Kevin Leung, Chief Underwriting Officer – Asia Pacific, adds: “It’s a delight to see Wanshi progress to take on this role. Her extensive experience, strategic insight and understanding of the Singapore market will be instrumental in strengthening our commitment to providing underwriting excellence to this important regional hub.”
Lin joined Markel in 2018 as an Assistant Underwriter – Marine, and since 2023 has been Senior Underwriter – Marine. Prior to Markel, Lin was Assistant Vice President at Marsh Singapore.
About Markel
We are Markel, a leading global specialty insurer with a truly people-first approach. As the insurance operations within Markel Group Inc. (NYSE: MKL), we operate the Markel Specialty, Markel International, and Markel Global Reinsurance divisions, as well as State National, our portfolio protection and program services operations, and Nephila, our insurance-linked securities operations. Our broad array of capabilities and expertise allow us to create intelligent solutions for the most complex risk management needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide.
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Fintech PR
FinVolution’s SVP Ming Gu speaks at Asian Financial Forum, highlighting opportunities in CreditTech for Southeast Asia’s underserved
HONG KONG, Jan. 15, 2025 /PRNewswire/ — FinVolution Group (NYSE: FINV), a leading fintech service provider in the pan-Asian region, reaffirmed its commitment yesterday to advancing financial inclusion through cutting-edge credit technology and strategic partnerships at the Asian Financial Forum 2025 in Hong Kong.
Dr. Ming Gu, Senior Vice President of FinVolution Group, shared his insights on how fintech innovation is transforming access to credit for underserved populations in Southeast Asia.
“Fintech is creating new pathways for underserved populations to access credit and financial support, empowering them to invest in their futures,” he said at a thematic workshop on the future of fintech in Southeast Asia.
Driving financial inclusion through innovation
Gu emphasized FinVolution’s mission to bridge the gap between financial institutions and underserved communities by leveraging advanced credit technology.
The company has built its business around serving young workers and small business owners from grassroots backgrounds, whose financial needs are often overlooked by traditional banks and other financial institutions.
Through user-friendly digital lending platforms and collaborations with local partners, FinVolution has supported over 6 million borrowers and facilitated loans exceeding US$3 billion in its markets outside China as of Q3 2024.
FinVolution’s AI-powered tools enable financial institutions to better assess creditworthiness, particularly for those without traditional credit histories, Gu explained.
Opportunities and challenges in Southeast Asia’s market
Gu highlighted Southeast Asia’s potential as a key growth market for fintech, driven by its young population, e-commerce growth, and credit-driven consumption habits.
“Very few regions in this world can meet all these criteria,” he said, highlighting the underpinnings of Southeast Asia’s ascent as a fintech powerhouse. “Digital lending always goes hand in hand with the growth of e-commerce.”
“The number one factor driving financial inclusion and literacy is GDP per capita,” Gu said. “Fintech and other technologies serve as a tool to facilitate this process, but it is GDP per capita that remains the cornerstone of development.”
For instance, Indonesia’s ambitious Golden Indonesia 2045 Vision aims to accelerate the nation’s economic growth by at least 5% annually over the next two decades.
This initiative reflects the nation’s commitment to fostering financial inclusion and leveraging technology as a catalyst for sustainable progress.
“Indonesia is the place to watch over the next five to 10 years,” Gu added. “We are very bullish on Southeast Asia.”
Symbiotic relationship with regulators and financial partners
Despite these opportunities, challenges such as the lack of credit histories and increasing fraud risks persist, threatening the future of fintech in this region.
FinVolution combats these issues with advanced proprietary risk management systems and fraud prevention technologies.
Gu stressed the collaboration with regulators and financial institutions in creating a robust and inclusive financial ecosystem.
FinVolution itself adheres to stringent regulatory standards, securing necessary licenses and aligning with local laws. This endeavor coincides with steady improvements to Southeast Asia’s regulatory stringency in recent years, which are credited for creating an environment conducive to fintech innovation.
“I believe a symbiotic relationship between regulators and fintechs like us is crucial to Southeast Asia’s rise as a key global fintech hub,” Gu noted.
With over 100 financial institution partners, including digital banks and consumer finance companies, FinVolution provides end-to-end credit tech solutions that streamline processes and expand outreach.
FinVolution Group remains dedicated to driving financial inclusion and innovation in Southeast Asia. With a focus on technology and collaboration, the company aims to empower individuals and communities while fostering a thriving fintech ecosystem in the region.
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View original content:https://www.prnewswire.co.uk/news-releases/finvolutions-svp-ming-gu-speaks-at-asian-financial-forum-highlighting-opportunities-in-credittech-for-southeast-asias-underserved-302351545.html
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