Tiger Brokers’ Wise integration bags Financial Services award in SBR’s Technology Excellence Award
The company’s new feature in the Tiger Trade app offers investors a faster, cheaper, and more convenient way to transfer foreign currency directly into their trading accounts to invest in multiple products such as stocks, options, futures, unit trusts, ETFs and REITs.
Tiger Brokers (Singapore) has bagged an award for Financial Technology under Financial Services award in SBR Technology Excellence Awards 2022.
Now on its fourth year, the prestigious awards program lauds companies who ride the digital disruption wave with technological innovations that have successfully transformed industries and business models, from merely adapting to the changing needs to going beyond expectations.
Digital investment continues to be on the rise in Southeast Asia and last year alone the region saw an increase in the number of users on investment platforms from 9 million in 2020 to 12 million in 2021.
Trusted by millions of registered users worldwide, Tiger Brokers is an online broker listed on NASDAQ that holds 50 licenses and qualifications in Australia, US, Hong Kong, Singapore and New Zealand.
Tiger Brokers (Singapore) aims to provide digital-first and financially savvy investors in the region the ability to grow their financial portfolios with digital convenience, updated financial information at their fingertips, affordable fees, and to diversify their portfolio with access to global exchanges without the need to go through 3rd party or intermediaries.
As the region is expected to see 25 million users on digital investment platforms by 2025, Tiger Brokers (Singapore) partnered with Wise, a global technology company building the best way to move money around the world, in January this year.
This partnership with Wise enables investors to seamlessly transfer funds from their overseas bank accounts to their Singapore Dollar (SGD) trading account wallet on the Tiger Trade app in real-time and execute trades within minutes. Users will be able to get real-time exchange rates and see the fees upfront with no hidden costs. Customers only need to link their Wise account once and this one-time process shortens the time needed to move funds between their bank accounts and trading account at Tiger Brokers.
In 2021, Tiger Brokers’ account opening customers increased to 1.8 million, nearly doubled the number at the end of the same period last year. In the last quarter of 2021 alone, over 90% of newly funded accounts in Q4 came from non-Mainland China regions.
As a result, the number of new funded accounts in 2021 increased by more than 400 thousand, more than all of its past annual funded account growth combined.
Tiger Brokers’ focus on understanding today’s investors has led to innovative product features to meet their trading needs with accessibility and convenience in mind. The company looks forward to delivering knowledge, innovation, and next-generation technology for investors to reach their full potential.
Watch the interview below to know more about their winning project:
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