Saxo Bank, the multi-asset investment and trading specialist, and Phoenix Finance, a financial technology firm, signed a MOU to form a white label partnership. The integration process will start in Q1 2017.
Phoenix Finance is a financial technology firm headquartered in Beijing, China. The company operates an online financial information and wealth management platform focused on providing users with public and private investment opportunities worldwide. Currently, Phoenix Finance has over 3 million registered users and total transaction volume of around RMB 30 billion.
Commenting on the partnership, Adam Reynolds, CEO, Asia Pacific, Saxo Bank said,
“We are delighted to be working with Phoenix Finance on this new partnership which demonstrates our ongoing commitment to becoming a trading facilitator and technology provider for banks and brokers around the world.
The partnership is a good example of win-win created through collaboration in the financial sector. Without having to develop its own solution, which might take years and be costly, Phoenix will be able to offer their clients a stronger investment and trading product by utilizing Saxo’s award-winning technology. Saxo Bank on the other hand gets a new distribution channel in new markets and segments as Phoenix Finance has an unparalleled reach to overseas Chinese investors.”
Adding to this, Vince Zhang, President, Phoenix Finance said, “Phoenix is ecstatic about partnering with Saxo Bank, the leading global financial technology provider. Through this relationship, Phoenix will be able to expand its product depth and provide our millions of investors with a more diverse product portfolio and innovative analytical tools.”