Non-bank Financial Institution Casebook

20 | The Problem StashAway sought to expand their presence in the fast-growing APAC markets and deliver their proposition of intelligent and personalized portfolio management to individual investors. StashAway’s priorities included accelerating product development and rolling out to new markets quickly and efficiently using digital automation, with minimal manual touchpoints. To address these specific needs, Stashaway sought a strategic banking partner with the geographical footprint to support their Asia expansion plans, with the ability to deliver a standardized product suite consistent across several fast-paced operating environments while catering to local demands and conditions. The Solution Stashaway worked with Citi to develop a comprehensive solution across three markets — Malaysia, Singapore and Thailand to help meet its needs regionally. With Citi’s Digital Onboarding process, StashAway could open bank accounts electronically with other Citi branches as they expanded their presence regionally, leveraging on existing documentation already provided for the shortest turnaround time. They were able to get their accounts up and running in Singapore in seven days. To handle its cross-border fund transfer process for investment funds received from individual customers in local currencies (Singapore dollar, Malaysian Ringgit, Thai Baht), Stashaway leveraged Citi’s Transaction Initiation Application Programming Interface (API) to streamline this process. With the initiation from their treasury StashAway Singapore Accelerating Product Development and Rolling Out to New Markets Quickly and Efficiently StashAway is a digital wealth management platform for both retail and accredited investors. Its technology delivers automated, personalized portfolio management for each client’s individual portfolios. STASHAWAY