MoneyOwl garners SBR award for fintech and consumer services

Bionic Financial Advisory, a pioneering planning service, combines human and mechanical elements for extensive financial planning.

As society rapidly evolves and moves into the future, one of the most significant roles of technology include simplifying and improving the lives of people through problem-solving capacities and convenient solutions.

Therefore, Singapore Business Review (SBR) recognises the accomplishments of ventures that target the fulfilment of this role through their trailblazing products, services and strategies. A notable roster of winners has been hailed in the SBR Technology Excellence Awards 2020 for the distinction and innovation, success and influence as well as vigor of their work.

As Singapore’s first bionic financial adviser, MoneyOwl Pte Ltd is powered by its mission to supply planning services that constantly meet their clientele’s needs by combining the best of both worlds: humans and technology. It has redefined financial planning by seamlessly integrating technology to complex financial models without forsaking accuracy, convenience as well as the personal and emotional aspects that are tied together with handling monetary assets.

The inclusive financial planning service covers a virtual journey and a face-to-face consultation. Delivered through the joint efforts of fully employed advisers and MAS Technology Risk Management compliant technology solutions, this all-inclusive financial planning service covers financial health, insurance planning, estate planning, investment advisory and a retirement withdrawal system integrating CPF LIFE, Singapore’s national annuity scheme.

MoneyOwl has hit many firsts in the industry. It is Singapore’s first insurance comparator that has supplied half a million insurance quotes as of writing. It is also the first financial adviser to provide online will-writing service.

Besides this, MoneyOwl is the first financial advisory investment platform that permits straight-through investment account establishment, which spans compliance clearance and setup with SingPass and MyInfo. This ensures that the account is ready for funding in six minutes.

It is also the first and only ISO27001-certified financial advisory platform. This guarantees security for the company’s information assets such as financial information as well as data trusted by external parties.

When availing this service, clients are required and requested to fill in an application that equips MoneyOwl with as much vital information as they can receive in order to provide a bespoke and befitting action plan that caters to the customer’s financial planning needs.

Once this has been analysed, MoneyOwl will email their comprehensive financial plan report and set up an appointment for the two-hour consultation. The report covers a personalised financial health check, protection needs analysis, and attainment of retirement and education goals.

Afterwards, a MoneyOwl adviser will meet with clients to discuss the report, clarify the analysis, set targets, and further individualise the provided financial plan. The adviser will also recommend fit-for-purpose low cost products the client can consider and to implement for them, if he or she chooses to.

The process does not stop there, since MoneyOwl will constantly remind clients that the financial process is an ongoing voyage and will encourage them to revisit their plans at least once a year.

Leveraging advanced technology, MoneyOwl fuses several financial aspects and provides clients more. Through the platform, they are able to acquire a robust financial health check, an analysis of their protection needs, a plan to achieve children’s education, a check on their retirement or financial independence goals as well as an intricate examination of national schemes such as CPF.

Watch the interview below to know more about their winning project:

The Technology Excellence Awards, presented by Singapore Business Review, was held via video conferencing throughout the first and third week of June.

This year’s nominations were judged by a panel consisting of Daryl Pereira, Head of Cyber at KPMG; Cheang Wai Keat, Head of Advisory Services in Singapore and ASEAN Technology Consulting Leader at Ernst & Young; Chin Chee Choon, Advisory Leader and Assurance Director at Nexia TS; Rizwi Wun, Partner, Acting Head of Intellectual Property and Technology Practice Group at RHTLaw Asia; Carolyn Chin-Parry, Managing Director and Digital Accelerator Leader at PwC.

If you would like to join the 2021 awards and be acclaimed for your company’s exceptional technological innovations, please email Julie Anne Nuñez at [email protected]