Hong Kong’s virtual bank WeLab announced that it has launched its digital wealth advisory solution, GoWealth Digital Wealth Advisory (GoWealth).

Customers can now kick start their personalised investment plan from HKD100.

In April this year, WeLab was granted Type 1 (dealing in securities) and Type 4 (advising on securities) licenses from the Hong Kong Securities and Futures Commission (HKSFC).

Following this, WeLab’s new offering received over 65,000 beta users over a two-month trial period.

GoWealth taps the investment expertise of asset management firm Allianz Global Investors (AllianzGI) to enable WeLab’s customers to reach their financial goals with an end-to-end approach.

It offers financial planning and investment portfolio recommendations to fund transactions and financial goal tracking within the WeLab app.

Tat Lee, Chief Executive at WeLab Bank said,

“By providing goal-based end-to-end investment, we are enabling everyone to get easy access to professional financial advisory in our mobile app.

 

On this occasion, by launching GoWealth, we are proud to become Asia’s 1st purely-digital bank to launch a digital wealth advisory solution.”

Philip Tso, Head of Institutional Business for Asia Pacific at AllianzGI said,

“We are excited to collaborate with WeLab Bank and deliver our expertise to more customer segments through fintech. GoWealth relies on the extensive portfolio simulation methodology and AllianzGI’s expertise in and investment management.

 

We believe we can work with WeLab to help democratize digital wealth management solutions for more customers in the city, helping them achieve their financial goals and needs.”