Versa partners with Affin Hwang to offer an alternative platform for finance and savings management

Versa has partnered with Affin Hwang Asset Management to provide a comprehensive platform that aims to educate Malaysians on better financial management.

Derived from the concept of a money market fund (MMF), a type of mutual fund available in the market, Versa offers benefits to ordinary investors due to its low risk and high liquidity nature. Accessible as a mobile application, users can create an account and acquire returns that are similar to other low-risk deposit options while enjoying the flexibility of a savings account. 

We are currently in an economic climate where average Malaysians, especially the younger generations, are paying more attention to their financial circumstances. Hence, we are grateful to have the full support of Affin Hwang Asset Management in launching Versa during these trying times. Moving forward, we hope that Versa’s digital cash management platform can alleviate their financial worries, and introduce better and more practical investment alternatives over traditional ones such as fixed deposits and trading,” said Teoh Wei-Xiang, Chief Executive Officer, Versa. 

“With Versa’s low-risk money management model that complements their spending patterns, they can kick start their investment journey with a low entry fee, and at the same time have full access to their funds, enabling them to withdraw money within a 24-hour window without any penalties incurred,” Teoh added. 

Managing Director, Affin Hwang, Teng Chee Wai believes this initiative will bring new solutions to clients and diversify their investments as well as maximise the potential of their cash reserves in their portfolio.

“This partnership will allow Malaysians to seamlessly tap into money market funds which were not commonly accessible to retail investors in the past,” he said.

As the platform is connected to every bank in Malaysia through the convenient and secure online payment solution, FPX, users who wish to sign up for a personal account can easily transfer a deposit from external savings account to begin their cash management journey with Versa. 

Versa users can also benefit from the platform’s null lock-in period and return rates that are similar to the rates of other fixed deposits in the market. This feature allows users to make full use of their idle cash by transforming them into money-earning opportunities without any strings attached. 

Additionally, Versa account holders have the autonomy to withdraw their funds at any moment without incurring any penalties, which is useful for emergencies. Versa’s model excludes any sales, transfer, and exit fees. With these features, the platform intends to appeal to investors rather than alienating them.

The platform has received approval and license from the Securities Commission Malaysia (SC). Moving forward Versa will establish itself as an instrumental cash management platform suitable to Malaysian current needs. 

Previous articleMDEC to partner with 11 crowdfunding operators to help entrepreneurs brace Covid-19 storm
Next articleTurning wearable pop-art into an investment


Please enter your comment!
Please enter your name here