The fintech arm of Hong Kong-listed gaming firm Razer and asset manager Franklin Templeton are jointly launching a digital wealth management platform for youths and millennials, the companies announced in a statement on Monday.
Razer chief executive Tan Min-Liang told KrASIA last week in an exclusive interview that banking and fintech have become a core objective for the company. “I think that young people are being overlooked by traditional banks,” he said, emphasizing that the field represents a “huge opportunity.”
The platform will target Razer’s younger customer base, providing wealth management solutions such as regular savings plans and money market funds that “cater to the investment needs of next generation investors.” The initial launch will focus on Singapore, Malaysia, the Philippines, and Vietnam, with plans to scale up as the firm expands into other countries.
“We look forward to leveraging Franklin Templeton’s deep expertise in investment solutions, global network, and unparalleled track record as one of the world’s most forward-looking and innovative financial institutions,” said Razer’s fintech head Lee Li Meng.
Razer Fintech was established in April 2018. It currently operates merchant services and B2B payment solutions, as well as Razer Pay, a mobile wallet targeting youths, millennials, and underbanked populations. In January 2020, the firm applied for a digital bank license in Singapore as part of its vision of building “the world’s first global youth bank.”
