- Singapore’s MariBank hit $149M assets under management.
- Over one-third of savings account holders use its investing platform.
- Parent Sea Group injected $172.5M, aiming to differentiate through digital wealth management.
Singapore-based digital bank MariBank has achieved a new milestone, crossing S$200 million (US$149 million) in assets under management (AUM) for its investment platform Mari Invest.
The robo-advisor service gives MariBank customers access to managed investment products like the Lion-MariBank SavePlus Fund.
The SavePlus Fund
Powered by asset manager Lion Global Investors, the SavePlus Fund combines Singapore government bonds and fixed-income assets. MariBank said over one-third of its savings account holders have utilized Mari Invest since its launch last March.
Digibank attributes the strong adoption to ease of use and low barriers to investing.
A US$172.5 million cash injection
As Singapore’s third digital bank, MariBank aims to differentiate itself through user-friendly digital wealth management. The bank offers personal and business accounts in addition to its investing platform.
Parent company Sea Group, which also operates Indonesian digibank SeaBank, has provided significant capital support, including a US$172.5 million cash injection last July.
Things are looking good so far
Robust customer demand for hybrid banking-investing offerings and MariBank’s early success bode well for Sea Group’s aspirations in Singapore’s competitive digital banking space.
Streamlined digital wealth management and strong capital reserves could be key competitive advantages as MariBank vies for market share.
