Lu International, a member of Chinese conglomerate Ping An Group, has introduced a new online wealth management platform for accredited investors in Singapore as well as investors in Asia.
The new platform, called Lu Global, will provide the investors access to different wealth management products, which were primarily available for private banking and institutional clients.
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Lu International CEO Kit Wong said: “Our mission is to make investing intuitive, accessible and self-directed. Investors will experience this as they register themselves on Lu Global.
“From onboarding to selecting their investment portfolio, investors will be equipped with financial information sufficient to make sound investment decisions.”
In 2017, Lu International was established in Singapore by Shanghai Lujiazui International Financial Asset Exchange (Lufax), the operator of China’s wealth management platform Lu.com.
The new solution Lu Global utilises Ping An’s technology to offer a strong risk management system.
It also leverages latest technology in the areas of big data, optical character recognition (OCR), GPS verification, facial recognition and artificial intelligence.
Besides Anti-Money Laundering (AML) and anti-fraud system, the new online wealth management platform complies with the Know Your Product (KYP) and Know Your Customer (KYC) procedures.
Ping An deputy group CEO, group COO and CIO Jessica Tan said: “Our technology will play an important role in opening up a fully automated wealth management tool to investors across Asia.
“The launch of Lu Global in Singapore marks a big step in Ping An’s business strategy. We are looking forward to seeing what a difference our technology will make to investors and their investment experience, through Lu Global.”
