Affin Bank recently revealed that it had entered a partnership with GAX MD (MYTHEO), a Robo-advisor that’s regulated by the Securities Commission Malaysia.
MYTHEO is an algorithm-based and automated discretionary investment portfolio management service that’s enhanced by Al.
This latest partnership is the “first” of its kind between AFFIN BANK and a Robo-advisory service provider.
It may enable new and existing clients of AFFIN AVANCE, a financial and wealth segment for the mass affluent, to diversify their investments across the international markets and effectively automate their portfolio rebalancing based on changing market conditions.
Clients who may be interested in learning more about AFFIN MYTHEO are able to visit any of the banking institution’s branches within their respective areas, contact its personal financial consultants, or choose to submit an enquiry via the bank’s official website.
Datuk Wan Razly Abdullah, President & Group CEO at Affin Bank stated:
“This partnership, which is our first collaboration of its kind with a robo-advisor, offers an alternative investment option to our new and existing AFFIN AVANCE customers, thus further enhancing our line-up of financial solutions and products offering. Malaysia’s mass affluent category is performing exceptionally well, with an upward growth trend. There is an increasing demand for more convenient avenues to invest.”
Ronnie Tan, CEO and MD at GAX MD, remarked:
“The partnership is another step in the company’s vision to help more people achieve their financial goals. Today, I am pleased to announce that we are collaborating with Affin Bank to offer the bank’s customers an opportunity to enjoy the benefits of digital wealth management service with a personalised touch.”
As noted by its management, the AFFIN Bank Group is “a financial services conglomerate.”
The AFFIN Bank Group’s activities “focus on commercial, Islamic and investment banking services, money broking, asset management and underwriting of life and general insurance business.”
Affin Bank Berhad (AFFINBANK) provides “a suite of financial products and services that is catered to both retail and corporate customers.”
The target business segments “are categorized under key business units such as Consumer Banking, SME & Commercial Business Banking, Corporate Banking and Treasury.”
Their tagline of “Banking Without Barriers” signifies “the removal of boundaries within the processes of the Bank as well as it’s attitude in servicing its customers.”
The latter “means reaching out to the customers, improving relationships with them, making each one of them feel privileged and enhancing a new approach to banking and changing the face of conventional banking.”
Affin Islamic Bank Berhad (AFFIN ISLAMIC), a wholly owned subsidiary of AFFINBANK commenced operations on 1st April 2006 “as a full-fledged Islamic bank, and offers a complete range of Islamic Banking products and services for individuals and corporate which are in compliance with Shariah principles and laws.”
As noted by its management, AFFINBANK has “a network of 110 branches in Malaysia.”