Grab to launch retail investment product, consumer loans platform

Fees charged by managers of the underlying funds will be reflected in the user's in-app portfolio performance; these fees will work out to less than 0.45 per cent per annum. Grab takes a cut of the fund fees.

The invested sum can be withdrawn at any time, with no penalties, to spend on Grab services or at any merchant accepting the GrabPay Card. Grab does not charge any transaction fees for investing in the AutoInvest solution.Meanwhile, under GFG's consumer loan platform, users will have access to personal loans offered by licensed bank partners. Bank partners and GFG will integrate their application programming interfaces so users can securely apply for the loans directly within the Grab app.

On the significance of the digibank licence, Mr Lai said:"When we launched GFG two years ago, our aim was really to unbundle banking products. But what we also observed was that as we launched each one of these products, digibank really does allow us to wrap everything, or rebundle everything, back together again in a more way."

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Grab announces new investment, consumer loan products as part of financial services driveSINGAPORE: Grab Financial Group announced a slew of new financial products and services on Tuesday (Aug 4), including a micro-investment ...
Källa: ChannelNewsAsia - 🏆 6. / 66 Läs mer »

Grab expands finance business with consumer loans services, wealth managementGrab, Southeast Asia's biggest ridehailing firm, deepened its finance sector push on Tuesday by announcing that it will offer consumer loans services in Singapore and roll-out wealth management products in the fast-growing but crowded sector. Backed by heavyweight investors including SoftBank Group
Källa: YahooSG - 🏆 3. / 71 Läs mer »

Grab snags US$200 million investment from South Korean private equity firmSINGAPORE (BLOOMBERG) - South-east Asian ride-hailing leader Grab Holdings is raising US$200 million (S$275 million) from South Korean private equity firm Stic Investments, according to people familiar with the matter.. Read more at straitstimes.com.
Källa: The Straits Times - 🏆 8. / 63 Läs mer »