A New Era for Malaysian Fintech: Kenanga Investment Bank Launches "Mini Program" Architecture Super App, Partnering with Ant Group to Drive Inclusive Finance

Tech 2024-08-27 15:51:55 Source: Network

A New Era for Malaysian Fintech: Kenanga Investment Bank Launches "Mini Program" Architecture Super App, Partnering with Ant Group to Drive Inclusive FinanceKenanga Investment Bank Berhad, the largest investment bank in Malaysia, has recently launched its wealth management super app "KDiGO". The app is powered by Ant Group's mobile development platform mPaaS, which provides a complete set of development solutions and is built upon the innovative concept and technical architecture of China's "mini programs"

A New Era for Malaysian Fintech: Kenanga Investment Bank Launches "Mini Program" Architecture Super App, Partnering with Ant Group to Drive Inclusive Finance

Kenanga Investment Bank Berhad, the largest investment bank in Malaysia, has recently launched its wealth management super app "KDiGO". The app is powered by Ant Group's mobile development platform mPaaS, which provides a complete set of development solutions and is built upon the innovative concept and technical architecture of China's "mini programs". KDiGO integrates various financial services such as savings, remittance, stock trading, e-payment, and financial management into a single app, providing users with convenient and efficient service experience while enhancing development efficiency by 80%. This makes Kenanga Investment Bank the first bank in Malaysia to adopt the Chinese "mini program architecture".

In the past, different financial services were typically scattered across different apps, requiring users to download multiple apps to access different services, which not only inconvenienced users but also increased usage costs. The emergence of KDiGO has changed this situation by integrating various financial services into one app, providing users with a one-stop service experience and enabling them to manage their wealth anytime, anywhere.

"We used to rely on complex Excel spreadsheets to combine and analyze all our investment and wealth management data, but with the super app, all investment portfolios are readily available at a glance, making things much easier," said William Sia, Group Managing Director of Kenanga Investment Bank Berhad. "We hope to leverage this to make financial services in Malaysia more inclusive, enabling millions of people to access better, more convenient, and low-cost financial services."

"We collaborated with Ant Group and completed the app development in just three to four months, and we are highly satisfied with the entire process," Sia added.

"The innovative mini program architecture in China offers numerous advantages over the commonly used development solutions abroad," said Yan Juan, Senior Regional Sales Manager of Ant Group's International Business Department. "For instance, it breaks the traditional model of 'every bug fix and feature change requires users to update the app', enabling seamless optimization for users and significantly reducing app update frequency. Additionally, the development team can independently develop and test multiple mini programs in parallel, offering greater flexibility compared to traditional methods, and reducing operational costs by 90%."

Besides KDiGO, Malaysia's largest e-wallet TNGewallet, and smart community SetiaGO, among other applications, have also adopted the mini program architecture based on mPaaS, providing a leading technical foundation for building a rich merchant ecosystem.

Kenanga Investment Bank's introduction of the "mini program" architecture not only delivers convenient and efficient service experience for users but also sets a new benchmark for the development of Malaysia's fintech industry. As a pioneer in China's "mini program" technology, Ant Group has been continuously expanding its presence in overseas markets, achieving remarkable results. Its security technology platform ZOLOZ, mobile development platform mPaaS, cloud-native PaaS platform SOFAStack, and Web3.0 technology services ZAN have expanded to regions including Malaysia, the Philippines, Indonesia, and Singapore, with revenue growth exceeding 300% in the past year.

Ant mPaaS has provided standardized services and component-based tools to hundreds of institutional and corporate clients in China, facilitating the development of over 2,000 super apps and offering valuable experience for overseas expansion. Kenanga Investment Bank's collaboration with Ant Group leverages Ant Group's leading expertise in "mini program" architecture, further driving the development of Malaysia's fintech industry and contributing to the realization of inclusive finance.

In the future, as the "mini program" architecture continues to mature and gain wider adoption, more and more financial institutions will embrace this trend, providing users with a more convenient and efficient financial service experience and driving continuous innovation in the fintech industry.

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