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Komfie Manalo, Opalesque Asia: China and Japan are pushing the global trends of financial inclusion and robo-advice to new levels in Asia. Singapore-based Eurex executive Roland Schwinn is pointing to China’s social media platforms like WeChat, which started as a chatting platform but has now become a financial service provider on a very, very large scale in different areas.
He told participants of the latest Opalesque 2016 China Roundtable, "In China, WeChat is not even disrupting industries here but actually providing services which were not available before. Other countries would say disrupting because they may have had some of those services. I am talking about things like peer-to-peer lending, crowd funding, or payments which used to be dominated, at the least in the western world, by the banks, and which now is being taken on by smaller players, and of course, PayPal is already an old example for that."
He added that these technologies and platforms will also spread into the financial investment industry. This is already happening in the U.S. and in Europe and it is slowly now picking up in Asia, with Japan being on the forefront in the region.
Robo-advisory to potentially bring quality service to the masses
Robo-advisory technologies can be described as an automated platform that offers liquid instruments via an automatic intelligent advisory service to the masses, ...................... To view our full article Click here
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