Principal Onboard 1.5 Million Malaysian Customers in Three Months Through Innovation
Asia Fintech Paytech

Principal Onboard 1.5 Million Malaysian Customers in Three Months Through Digital Solutions

Principal Asset Management (“Principal”) remains committed to championing financial inclusivity through innovative digital investment solutions and consumer education that can help its 1.5 million customers and Malaysians save enough, have enough and protect enough to achieve their long-term financial goals. These efforts are in tandem with Principal’s purpose, to foster a world where financial security is accessible to all Malaysians.

“Throughout the pandemic, understanding the pain points on the ground and reaching out to them regardless of their financial background and stage of life has become our number one priority,” said Munirah Khairuddin, CEO of Principal Asset Management. “We accelerated our digital transformation efforts and focused on educating consumers on the importance of good financial planning, and developing digital investment solutions that address their ever-changing needs. Inclusion is part and parcel of the journey, and we continue to diversify and broaden the latitude of our outreach.”

“With our latest endeavour in the mainstream e-Wallet space through GO+, we see strong participation from mass public and out of Klang Valley too. We prioritise their journey and as a companion of every level of financial background, Principal is here to share, provide and ultimately help Malaysians achieve their financial goals,” she added.

On 29 March 2021, Principal through its smart partnership with TNG Digital Sdn Bhd (“TNG Digital”), launched the GO+ e-Wallet investment solution, one of its key financial inclusivity initiatives allowing Malaysians to gain access to low-risk money market investments for as low as RM10. The solution has helped to onboard 1.5 million customers in just over three months. Principal will also continue to advance its digital solutions including the addition of more funds including shariah-compliant funds into the Touch ‘n Go eWallet ecosystem by the second half of this year as customers become financially better-informed.

Apart from GO+, its financially inclusive investment solution, Principal offers other digital solutions such as the EPF i-Invest online platform that allows EPF account holders to invest their money into unit trust funds.  This platform can help them grow their EPF savings and enable them to prepare and live comfortably post-retirement.

CEO of Principal ASEAN, Juan Eyzaguirre said, “As our firm begins transitioning from responding to recovering, our focus is centred on how to help our customers emerge stronger and thrive even better in the future. Substantiating that, we are pleased to share that, Principal has been announced as the Best Online and Mobile Platform (Asset Manager); Best Fund with the optimal Sharpe ratio; and Best Fund Manager for Pension Mandates and Private Retirement Schemes for the Malaysian market at the 12th Annual Fund Management Awards 2021 by Alpha Southeast Asia.”

Author

  • Francis is a junior journalist with a BA in Classical Civilization, he has a specialist interest in North and South America.

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