Friday, March 24, 2023

U Mobile to offer a wide range of unit trusts from FSMOne

U Mobile Services Sdn. Bhd. (U Mobile Services), the subsidiary of the data-centric and multiple award-winning U Mobile Sdn. Bhd. (U Mobile), signed a collaboration agreement with iFAST Capital Sdn. Bhd. (iFAST Capital), one of Malaysia’s leading online investment platform.

u mobile FSMOne unit trust
L-R: Neil Tomkinson, Chief Information Officer of U Mobile; Alex Tan Kok Leong, Director of U Mobile Services; Dennis Tan Yik Kuan, Managing Director of iFast Capital; Wong Weiyi, General Manager of FSMOne Malaysia

This collaboration will enable the Telco to offer a wide range of unit trusts from FSMOne – iFAST Capital’s B2C online distribution arm. FSMOne’s unit trust offerings will be made available on the telco’s soon to be launched e-wallet called GoPayz. To simplify customer experience, transactions of FSMOne’s unit trusts may be done digitally either via the U Mobile GoPayz app or on its website. 

Director of U Mobile Services, Alex Tan, revealed that U Mobile Services, together with its parent company, has been aggressively expanding its range of digital services to transform their customer experience to one of greater efficiency and ease. “U Mobile and U Mobile Services are always looking at ways to enable customers to reach their unlimited potential. In this instance, iFAST Capital is a perfect partner for us to bring unit trust investments to customers as they have a proven track record and they are equally known for innovation.”

He adds that U Mobile has achieved many firsts for the industry and is delighted to be able to add unit trust offerings to its list of firsts. “This collaboration will make unit trust investment accessible to all customers. Firstly, they will be able to make informed decisions based on objective and comprehensive insights shared on FSMOne. Secondly, customers will enjoy greater convenience as they may invest in FSMOne’s unit trust offerings via the GoPayz app and website. Thirdly, as everything is transacted digitally, customers get to enjoy lower sales charges that are between 0% to 1.75% when investing in unit trusts on FSMOne’s online investment platform. The charges are lower than what one would pay when they transact offline as those sales charges are usually between 3% to 5%.”

Managing Director of iFAST Capital, Dennis Tan echoed Alex’s enthusiasm on the new collaboration. “We are delighted to partner with U Mobile and share in the Telco’s vision of making investment accessible and inclusive to all. Not only will customers enjoy low sales charges, but they will also benefit from a low barrier of entry where the minimum investment amount for most of the unit trusts on FSMOne is only RM1,000,” he shared.

FSMOne’s unit trust offerings will be made available on the GoPayz app and website from the third quarter (3Q19) of this year.

Kugan is the co-founder of MalaysianWireless. He has been observing the mobile industry since 2003. Connect with him on Twitter: @scamboy

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