The Business Times
business-time-50
SUBSCRIBERS

Grab ventures into retail wealth management with Bento buy

Acquisition of robo-advisory startup allows it to offer financial solutions to its users, drivers, merchants via its app

google-preferred-sourceAdd BT as a preferred source
Published Tue, Feb 4, 2020 · 09:50 PM

    Singapore

    TAKING a clear step towards offering wealth management for the masses, digital bank contender Grab has acquired Singapore-based robo-advisory startup Bento for an undisclosed sum.

    With this move, Grab will be able to offer retail wealth management and investment solutions to its ecosystem of users, drivers and merchants via its app.

    Singapore digital banksGrab

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    The bank on Tuesday priced 500 million euros (S$746.9 million) worth of fixed rate covered bonds due in 2029.

    Stocks to watch: OCBC, OUE, SIA Engineering Company, OUE Reit

    ​OCBC head of global consumer financial services Sunny Quek says: “All of us (financial institutions) have a wealth strategy. What’s really going to differentiate one bank from another is the execution."

    OCBC consumer banking chief Sunny Quek aims to double wealth business by 2029

    UBS' Young Jin Yee (left) and Conrad Huber present the Global Next Generation Report, which surveyed more than 170 next-generation wealth holders globally.

    Asia’s wealthy families shed taboo on succession planning as US$83 trillion changes hands: UBS

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More