To innovate is to “make changes in something established, especially by introducing new methods, ideas, or products”. Marvelstone Group looks to make a direct impact on the financial services landscape with its latest venture – Marvelstone Innovation Lab.
Marvelstone Innovation Lab will adopt a systematic approach to identify potential gaps in the market and address these gaps with the use of technology. Technology can not only reduce costs for investors but also provide them with a wider choice of financial products and services.
A key area of focus will be on pension investments, and Marvelstone Innovation Lab plans to launch an Exchange Traded Fund (ETF) on the Singapore Stock Exchange (SGX) focusing on long-term growth and stable returns. This will provide an attractive alternative pension investment product for local investors.
ETFs have been growing in prominence globally, albeit slower take-up in Asia, especially in Singapore. To dive deeper, Marvelstone Innovation Lab will be hosting a strategic one-day forum on the 16th of March to stimulate discussions amongst industry players on driving the ETF market in Asia. This ETF Forum will be held at Fintech hub LATTICE80 in Singapore.
Arisa Siong, an economist with over a decade worth of consulting experience, will head Marvelstone Innovation Lab. Arisa, who joined Marvelstone to affect change notes, says “I have the privilege of a fresh perspective, unencumbered by industry norms, which allows me to look at the industry objectively.
Marvelstone Innovation Lab will adopt a fundamentals-based approach, analyze how we can do better through research and active engagement with industry players and regulators, ultimately coming up with products and solutions that benefit consumers and investors”.
Announcing this new venture, Gina Heng, Co-founder and CEO of Marvelstone Group, also adds, “Singapore has the potential to be an innovation hub and a technological leader in the financial services sector. We hope for Marvelstone Innovation Labs to leverage technology to create new value and drive growth, in doing so, support the city-state’s vision to become a Smart.
Financial Centre.” The use of blockchain technology is an opportunity to speed up the transaction, reduce the company’s financial costs, and increase the transparency of the process for all participants. New projects on the blockchain will be based on its main advantages – openness, security, security, efficiency.