Cake by VPBank (CAKE) ties up with Dragon Capital VietFund Management JSC (DCVFM) to launch a micro-investment option to customers under CAKE’s ecosystem.
|CAKE by VPBank signs partnership with Dragon Capital for micro-investment product |
With the newly-launched micro-investment product, CAKE’s customers can join the DC Income Plus Bond Fund under the management of DCVFM with an initial investment of at least VND10,000 ($0.44).
Customers can optimise their cash flow quickly with just a few simple steps on the CAKE app. The new feature also allows customers to gain access to a more suitable and convenient affordable investment option to build assets without much time and effort.
The micro-investment product targets young customers who are tech-savvy and in favour of simplicity and flexibility in financial management. Rather than depositing money into a savings account, they want to find an investment channel that accepts small capital with increased safety and transparency.
By investing with CAKE, customers can feel secure as their assets are managed by Dragon Capital – a longstanding fund with the most diverse products on Vietnam’s capital market. The fund's investment is audited annually by PriceWaterHouse Cooper – one of the largest auditing firms in the world. Standard Chartered is in charge of supervising the operation of the fund while the Vietnam Securities Depository acts as a transfer agent.
Nguyen Huu Quang, CEO of CAKE said, “CAKE’s digital banking platform offers a one-stop service for individual customers. We deliver financial solutions that meet the versatile demand of young customers including payments, investments, savings, consumer loans, and salary advances. With CAKE’s micro-investment product, even a young graduate can make investments easily without any capital barriers.”
Quang emphasised, “We believe that this is an opportunity for young people to learn more about financial management skills.”
The tie-up between CAKE and Dragon Capital is expected to create synergies. In 2022, more financial products by DCVFM will be rolled out on CAKE such as the DC Bond Fund, the DC Dynamic Securities Fund, and the DC Blue-Chips Investment Fund, which will add more variety to serve customers' diverse financial demands.
By Thanh Va