Kenanga Investment Bank, AntChain to Adopt ‘mPaaS’ Tech for Malaysia’s Wealth SuperApp

Kenanga Investment Bank Berhad has entered into an agreement with AntChain Technology Pte. Ltd., part of the Ant Group, “to build Malaysia’s first wealth SuperApp using AntChain’s proprietary mobile platform solution.”

This agreement “follows from its recent MoU with AntChain.”

Kenanga’s SuperApp aims “to help Malaysians save and grow their wealth through our innovative and interactive platform – one that delivers our competitive financial products simply and transparently, enabled by our extensive experience in wealth creation and in today’s leading technology.”

Datuk Chay Wai Leong, Group Managing Director, Kenanga, said:

“The SuperApp will integrate a spectrum of financial and wealth offerings under one easy to access ecosystem, transforming how Malaysians view and approach wealth creation. A big part of Kenanga’s SuperApp success will ride on our ability to deliver a seamless and engaging digital customer experience. This is primarily the reason Kenanga is adopting AntChain’s mPaaS solution because it allows us to rapidly evolve the SuperApp to keep up with changing needs of our customers and react quickly in today’s fast-changing world.”

AntChain’s proprietary solution, “known as the Mobile Platform as a Service (mPaaS), is a cutting-edge product which originated from Alipay App and a one-stop mobile app lifecycle management solution that will enable Kenanga to realize its SuperApp ambitions in an expedient yet robust and secure manner.”

The mPaaS product “has been trialed and tested by numerous successful e-commerce and e-wallet brands around the region.”

Geoff Jiang, President of Digital Technology Business Group, Ant Group, remarked:

“We are excited and honored to provide mPaaS to Kenanga, and support Malaysia’s leading investment bank in building its wealth SuperApp with speed and reliability.” 

Ant Group Digital Technologies claims it is “a global leader in blockchain, privacy computing, security technologies and distributed databases.” The technology provider “is proactively committed to driving change and enhancing trust with its leading-edge digital services and solutions for consumers, businesses and partners in the digital economy.”

The SuperApp will “extend the suite of digital products that Kenanga has successfully rolled out, from Rakuten Trade, Malaysia’s fastest growing online stock trading platform, to Kenanga Digital Investing, a robo-advisor that has amassed more than RM250 million* in AUM since its launch in February 2022.”

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