Tiger Brokers (Singapore) Launches B2B Platform With Institutional Partners

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Signs its first Financial Advisory Firm, PFPFA, as Tiger Brokers Takes Aim at Institutional Investment Space

DigitalCFO Newsroom | 23 August 2021

  • The onboarding of PFPFA marks Tiger Brokers foray into the B2B business segment catered to institutional partners. It complements Tiger Brokers’ Singapore consumer platform ‘Tiger Trade’, where the company has amassed close to 300,000 users in under 1.5 years

  • Through the partnership, PFPFA’s clients will have direct access to Tiger Broker’s technologically enabled online brokerage and platform 

  • Tiger Brokers looks to rapidly grow its B2B segment in the coming months by offering its services to more financial institutions, including robo advisors, banks, neo-banks and fund managers

Tiger Brokers (Singapore) Pte Ltd (“Tiger Brokers”), the Xiaomi-backed online brokerage today announced that it has formally launched its business-to-business (B2B) segment for financial institutions. The firm marked an important milestone by entering into a partnership with Singapore-based financial advisory firm PFPFA Pte Ltd (“PFPFA”) as its first partner for its B2B platform. Through this partnership, clients of PFPFA will gain access to Tiger Broker’s first in class technology-driven trading platform. 

Tiger Brokers’ institutional division provides clients with comprehensive technological solutions that include advanced portfolio and risk management tools. With its sophisticated client management tools and functions, fund managers and professional advisors can manage accounts and assist clients to invest seamlessly. It builds on the firm’s highly successful Singapore consumer business, Tiger Trade, which amassed close to 300,000 users in the one and a half years since its launch. 

Grace Yong, Director of Institutional Sales, Tiger Brokers, said: “A Temasek survey showed that only 13 percent of the banking and insurance industry use AI solutions. We see the power of technology in disrupting the digital investment space globally, especially in Singapore, which is why we are immensely excited to launch our B2B segment. The launch follows the highly encouraging uptake which we have seen in Singapore for our consumer business on Tiger Trade, something we hope to replicate. For Tiger Brokers’ B2B partners and clients, this brings a proven technology platform and leverages the direct credibility of Tiger Brokers’ parent company, UP Fintech Holding Limited. We hope to bring the same to the B2B segment and allow institutional partners to also tap on our technology to grow their business in our ecosystem. We are thrilled to formally launch our B2B segment with a strong and valued partner in PFPFA, together with whom we are committed to transforming the financial advisory landscape”

According to research from Google, Bain & Co and Temasek’s e-Conomy SEA report, digital financial services are experiencing a healthy growth trend. Southeast Asia saw a total investment asset under management (AUM) of US$21 billion in 2020, and is expected to grow 32% CAGR to US$84b by 2025. However, segments of the financial advisory industry have yet to undergo many transformations to reap the benefits of digitalization. 

Simon Ng, Managing Director for Partnership and Distribution Operation, PFPFA Pte Ltd shared: “We are delighted to be Tiger Brokers first partner in the Financial Advisory space. PFPFA prides itself by putting our client’s interests first, we support their current aspirations while also thinking about what our clients’ future needs will be. Incorporating the latest technological advancements and innovations is core to our philosophy, we believe that by leveraging on Tiger Brokers’ one-stop wealth management solutions, we can create more value for our clients.”

Earlier this year, Tiger Brokers won the Best Sub-custodian Mandate, Broker-dealer (Singapore) presented by The Asset Triple A Sustainable Investing Awards 2021 for Institutional Investor, ETF and Asset Servicing Providers. The company also received approval-in-principle to be admitted as a Clearing Member of The Central Depository (Pte) Limited (“CDP”) and approval-in-principle from Singapore Exchange Securities Trading Limited (“SGX-ST”) as well as Singapore Exchange Derivatives Trading Limited (“SGX-DT”) for admission as a Trading Member.

About Tiger Brokers (Singapore) Pte Ltd.

Tiger Brokers (Singapore) Pte Ltd is a subsidiary of UP Fintech Holding Limited, known as “Tiger Brokers” in Asia, a leading online brokerage firm focusing on global investors. Founded in 2014, Tiger Brokers became #1 in the U.S. equity trading by volume among trading platforms catered to Global Chinese investors in less than two years. Tiger Brokers was awarded “2017 Fintech 250” by CB Insights and shortlisted for “China Leading Fintech 50” for two years in a row by KPMG China. The company was listed on NASDAQ under “TIGR” in 2019 and has offices in China, United States, Australia, New Zealand and Singapore. Tiger Brokers has over 1.4 million customers worldwide currently, with a total trading volume exceeding USD123.8 billion in Q1 2021. The company is backed by well-known investors such as Xiaomi, as well as investment guru Jim Rogers.

For more information, please visit https://www.tigerbrokers.com.sg

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