A Voice of Unheard
SINGAPORE – Media OutReach – 18 August
2020 – Lu International
(Singapore) Financial Asset Exchange (PTE) Ltd. (‘Lu International’), a
subsidiary of China’s leading retail fintech enterprise Lufax Holding, and
KASIKORNBANK, one of Thailand’s largest banks, have recently announced a
strategic partnership to meet rising demands for digital financial services in
Thailand. The partnership allows KASIKORNBANK to leverage Lu International’s
technology and expertise to establish a comprehensive online wealth management
platform for retail investors in Thailand. This platform will be jointly
operated and managed by both parties.
Lufax Holding leverages
its innovative ‘cloud-exporting’ model to empower the banking customer with its
technological and operational advantages. The jointly built wealth management
platform will be deployed on a fintech empowering platform developed by Lufax
Holding. In recent years, Lufax Holding has adopted big data, artificial
intelligence, cloud computing and other emerging technologies to successfully
develop a number of fintech solutions, some of which have already been rolled
out — such as the investor suitability management system, ‘Know Your Intention
(KYI)’ model that integrates the company’s rich experiences in financial
operations, and strong research and development capabilities.
“This strategic
cooperation with KASIKORNBANK is a strong and mutually-beneficial alliance.
Lufax Holding, together with Lu International, has the technological
capabilities and wealth of experience in doing business globally to help
address a gap in the Thailand market.” Weighed in Greg Gibb, CEO of Lufax
Holding, “Together with KASIKORNBANK who has a long history of local operations
and has built a strong customer base in this market, we believe this
partnership will accelerate the pace of digital transformation within the
financial institution industry in Thailand and across the Southeast Asian
region.”
Lu International was set
up in Singapore in 2017 as Lufax Holding’s first international arm. Since then,
it has progressively extended its operations and market reach, which now spans
several markets in Asia, with over 380,000 registered customers.
Kit Wong, CEO of Lu
International, commented on the move, “Being based in Singapore, a gateway to
Southeast Asia, as well as being one of Singapore’s first wealth management
platforms providing end-to-end online account opening services and investment
operations, we are well positioned to be the fintech enabler of choice for
traditional financial institutions in the region that want to provide
convenient, efficient, intelligent and personalised digital financial services
to investors.” In the coming months, Wong added, “We will continue to grow our
capabilities in Southeast Asia, extending our footprint in the region to meet
the needs of our customers and support the business growth of our partners.”
LU Global is the online
wealth management mobile platform operated by Lu International that offers
customers with round-the-clock access to a wide range of high-quality
investments. Utilising the technology developed by Lufax Holding, LU Global has
instated a robust risk management system that adopts strict Know Your Product
(KYP) and Know Your Customer (KYC) compliance procedures, alongside an
Anti-Money Laundering (AML) and anti-fraud system.
Kattiya Indaravijaya, CEO
of KASIKORNBANK, said, “The world is about to enter another wave of digital
disruption as big players like commercial banks morph into fintech
organisations. It is imperative that we quickly adjust ourselves and strengthen
our capabilities to seek new business opportunities. With the necessary
technical support coupled with fintech innovation, KASIKORNBANK has
successfully achieved digital transformation through the partnership with Lu
International, as well as the help of an open banking services model. We are
ready to create a digital service platform to allow Thai individuals and
businesses to go beyond borders to capitalise on massive opportunities in the
‘Era of Asia’.”
Established in 1945,
KASIKORNBANK is the fourth-largest commercial bank in Thailand. It has an
extensive customer base in the country with 17.3 million customers, including
12.7 million online users. KASIKORNBANK has been actively promoting the
digitisation process in recent years and is committed to providing a full range
of financial services through digital platforms to its customers.
Lufax Holding is a
China-leading retail fintech enterprise operating in businesses mainly
including retail credit facilitation and online wealth management. In wealth
management, Lufax Holding provides diverse and customised products and services
for the Chinese middle-class and affluent investors through
the platform LU.com. Currently, it has established a wide range of asset-end
cooperation ties with over 400 financial institutions.
LU Global is the online
wealth management platform operated by Lu International (Singapore) Financial
Asset Exchange Pte Ltd (Co. Reg No 201702479G). Lu Global is a mobile
investment and wealth management platform operated out of Singapore. It offers 24/7 online access to a wide range of high
quality investments, and offers investors the
opportunity to invest easily with small investment amounts, and with low
commitment. The customers have the ability to
invest with maximum flexibility while still being able to benefit from superior
returns. For more information, please visit https://www.lu-global.com/.
SINGAPORE – Media
OutReach – 7 December 2020 – NIPSEA Technologies and the Agency for
Science, Technology and Research (A*STAR) have joined forces in the field of
coating solutions for autonomous navigation. Over the next three years, this
groundbreaking collaboration will be developing coating solutions for C.A.S.E.
(connected, autonomous, shared and electric mobility) which offers a glimpse
into the future of automobiles and its rapid developments.
Established
in 2011, NIPSEA Technologies is the Research and Development facility of Nippon
Paint Group, outside Japan and China. NIPSEA’S current collaboration with
A*STAR paves the way to promote innovative R&D projects, leveraging
expertise in chemicals, engineering sciences, and infocomm technologies.
“This current
project is part of our goal to contribute to the innovations in the rapidly
changing automotive industry. We are very honoured to have A*STAR as our
partner in this attempt to develop disruptive technologies,” said Mr. Wee Siew
Kim, Group Chief Executive Officer of NIPSEA Group.
From
L-Rt: Mr WANG Chyang (Managing Director of Nippon Paint Singapore Group), Mr.
WEE Siew Kim (Group Chief Executive Officer of NIPSEA Group), Mr. Frederick
CHEW (Chief Executive Officer of A*STAR) and Prof. TAN Sze Wee (Assistant Chief
Executive, Enterprise A*STAR)
This exciting
partnership is yet another milestone for NIPSEA and A*STAR, who have previously
worked on several key initiatives over the past eight years. This includes the
ICAP (Industrial Coating and Packaging) consortium project which produced
packaging films that protect foods and medicine from oxidation, by keeping
moisture out and blocking UV rays. The parties also worked on the Cool
Singapore project helmed by Nanyang Technological University (NTU) in 2017,
yielding a total cool paint solution to reduce Singapore’s ambient temperature
by 2 °C. Through this collaboration, NIPSEA has developed full cool paint
systems by modification and development of coatings for cool walls, roof and
road applications. More recently in 2019, the two cutting-edge organisations
also collaborated on an anti-microbial coating project which was successfully
implemented for solvent-borne auto interior coatings in China.
The current
project is part of NIPSEA’s aim to develop coating technologies for the evolving
needs of the automotive and transportation industry. Over the next three years,
the two organisations will work on several fronts in the field of autonomous
navigation. This includes the development of new coating solutions that
addresses the key challenges of safety and cost in autonomous driving, as well
as the employment of machine and deep learning approaches to increase
productivity in coating research and development.
“We
have worked together with A*STAR since 2012 and have achieved many milestones
together. However, this project, in particular, is very exciting as for the
second consecutive year, Singapore ranks at the top of the list of countries
ready to embrace autonomous vehicles (AVs), according to the 2019 Autonomous Vehicles
Readiness Index (AVRI) conducted by KPMG. Hence, this allows NIPSEA to lay an
excellent foundation to be the pioneer in autonomous navigation, over the next
decade,” said Dr. Hong Jiang, Chief Technology Officer of NIPSEA Group.
Dr.
HONG Jiang (Chief Technology Officer of NIPSEA Group) in NIPSEA Group R&D
Innovation Center, Shanghai
Similarly,
NIPSEA’s commitment to this cutting-edge project is echoed by A*STAR. Together,
the organisations are looking forward to continuing their working relationship.
“Working
alongside NIPSEA has been a happy journey for us, as both organisations place
high emphasis on innovations that benefit society in a sustainable way. In this
emerging and dynamic field of autonomous navigation, we are building upon our
long-standing collaboration to create a technology solution for a safer
environment,” said Professor Alfred Huan, Assistant Chief Executive, Science &
Engineering Research Council, A*STAR.
This
collaboration is firmly in line with NIPSEA’s DNA to push the boundaries of
innovation. This project will also provide major long-term benefits to
Singapore and to the future of autonomous navigation. For more information and
updates on this collaboration, visit http://www.nipponpaint.com/.
NIPSEA was founded by entrepreneur Mr.
Goh Cheng Liang in Singapore in 1962. NIPSEA has established its position as
one of the largest paint and coatings specialists in Asia, known in the
marketplace by its brand as “Nippon Paint” and is responsible for expanding its
operation and development of Nippon Paint in Asia. It has become the best
coatings partner for architectural, automotive, industrial, marine, O&G,
specialised clients and millions of families across the world. The brand is recognised for its dedication to
quality, innovation and excellent customer service.
With more than 107 NIPSEA companies spread throughout
Asia, NIPSEA understands the local needs of its customers in every community.
The company embraces diversity and operates as a multinational corporation.
NIPSEA Group has over 22,000 employees with 82 manufacturing facilities and
operations in 18 geographical locations with its headquarters in Singapore,
efficiently serving all aspects of the business, from production to customer
satisfaction.
For more information about NIPSEA Group, visit http://www.nipponpaint.com/.
With 82% of Singaporeans willing to consider paying more for eco-friendly homes, PropertyGuru champions sustainable urban living SINGAPORE – Media OutReach –…