FinTech Company of the Year, Rakuten Trade Sdn Bhd turns one this month with over 12,000 clients, of which a little over 40% were first-timers to the equity broking market in Malaysia. Rakuten Trade, the country’s first completely digital equities broker, says this was a feat for the start-up and a clear testament to its first-in-market FinTech business model.
Rakuten Trade Managing Director, Kaoru Arai, says, “Our quantum jump in the industry demonstrates that the more digitally inclined investors in Malaysia are ripe for a fresh trading experience. Almost 80% of our clients are below the age of 40 and most of them are active traders. In addition to the growing number of clients, we are continuously experiencing healthy trading activities in terms of both volume and value.”
He adds the company’s growth was also due to the support received from both Kenanga Investment Bank Berhad, Rakuten Securities, Inc., local regulators, business partners and Rakuten Trade employees. It also attributes its client appeal on its Rewards Eco System, the first of its kind in Malaysia, that offers access to three of the country’s biggest loyalty points providers like AirAsia BIG, B Infinite and BonusLink under one platform.
Rakuten Trade is the result of a joint venture between Malaysia’s leading independent investment bank Kenanga Investment Bank Berhad and Japan’s Rakuten Securities, Inc. which is part of Rakuten Group, a global innovation leader. The Rakuten Group empowers society, while providing convenience to customers around the world with easy-to-use and innovative services.