50 51 Environmental Stewardship About This Report Who We Are Progressing Towards A Sustainable Future Managing Our Sustainability Risks Good Governance Sustainable Economic Growth KENANGA INVESTMENT BANK BERHAD Sustainability Report 2022 Awards and Recognitions Empowering People and Communities GRI Content Index ESG Performance Data Going Digital at Kenanga Kenanga is committed to advancing financial inclusion through digitalisation by embracing technology advancement and innovation as means to increase clients’ seamless access to financial products as well as to reach the underserved segment. IT Strategy 2023-2027 In 2022, a 5-year IT Strategy was developed to provide prudent guidance on how digitalisation will be prioritised to support wider enterprise goals while promoting economic growth. The strategy will be rolled out in phases from 2023, and will be reviewed annually to ensure it remains relevant and effective. Ease of Operations Simplify operations model and reduce manual manpower and further repurpose human resources. Create additional workstreams to boost business revenue. Improve Business Revenue Improve application time to market and gain velocity to support Digital and Digitisation initiative. Reduce technology and business risks to ensure business runs as usual. Time to Market Reduce Risks Cost Reduction Reduce and repurpose OPEX to other work initiatives. Principles of the IT Strategy 2023-2027 SUSTAINABLE ECONOMIC GROWTH “We have provided a wide spectrum of financial services to all of our valued clients from all walks of life, yet many still see investing as being only for the wealthy. We continue to strive towards making wealth management and investment banking accessible and inclusive, so that everyone can build their wealth, invest in themselves, and plan for their future – whether that is saving for your retirement, planning for your family, or growing your business.” SUSTAINABLE ECONOMIC GROWTH IAN W. LLOYD Chief Digital Officer, Kenanga Investment Bank Berhad INCREASING ACCESS TO FINANCIAL SOLUTION SuperApp In 2022, we signed a Memorandum of Understanding with Ant Group to develop Malaysia’s first Wealth SuperApp. The SuperApp will serve as a central platform for our financial, and wealth solutions, which will be complemented by lifestyle offerings. The SuperApp will be built on AntChain’s proprietary cutting-edge solution, Mobile Platform as a Service, allowing for a product that is robust and secure. Wealth-as-a-Service (“WaaS”) Along with the SuperApp, the upcoming introduction of WaaS to our ecosystem partners will allow our suite of wealth services to be embedded onto their platforms for their audiences at a swift go-to-market pace. New Digital Client On-boarding (“DCO”) Service The new Digital Client On-boarding service was launched on 13 October 2022, allowing clients to open an account online from the comfort of their own homes without having to visit a Kenanga branch. The digital platform offers equity trading, futures and options trading, and treasury products. The account opening process takes as little as 15 minutes and can be completed through a web-browser on a PC, laptop or mobile device. Our Progress for FY2022 Kenanga Digital Investing In February 2022, Kenanga launched Kenanga Digital Investing (“KDI”), a fully automated A.I.-driven robo-advisor designed to simplify how Malaysians save and invest. Licensed by Securities Commission Malaysia, the KDI platform offers two (2) convenient products – KDI Save and KDI Invest. KDI Save allows users to earn daily returns on their savings with no lock-in period and zero management fees, while KDI Invest allows customers to grow their wealth with access to global investment opportunities through US-listed Exchange Traded Funds (“ETFs”) at one of the most competitive fees in the market. At the end of 2022, Asset Under Management stood at almost RM250 million with 17,000 clients. Kenanga Money Kenanga Money is the product of a partnership between Kenanga Investment Bank Berhad and Merchantrade Asia Sdn Bhd Kenanga has entered the cashless payment sector, allowing its clients to effortlessly move money from their stock trading account into an e-Wallet with a prepaid card for retail payments, remittances, and withdrawals globally. Users will also benefit from Merchantrade’s innovative multi-currency capability, which allows users to buy, sell, and keep up to 20 foreign currencies at any time at cheap exchange rates. In FY2022, there were over 700 sign-ups. Rakuten Trade Since its launch, Rakuten Trade Sdn Bhd (“Rakuten Trade”) a joint venture between Kenanga and Japan-based Rakuten Securities, Inc., has introduced the ease and access of online stock trading to hundred thousands of new traders and investors. In 2022, it further advanced its financial inclusion agenda by introducing trading access into the US market. Trading US stocks is now a feature on the same platform, allowing Malaysian users a seamless and cost-effective option to diversify their portfolio. Approximately 21,000 new users signed up on Rakuten Trade in 2022, bringing the total customer base to more than 257,000. A total of RM111 billion worth of stocks were transacted since its inception in year 2017.
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