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 Business

Neurogine, UMSKAL team up to groom financial services talent

28th February, 2020

LABUAN: Malaysian-based mobile banking and investment trading platform provider, Neurogine Group, has announced its collaboration with Universiti Malaysia Sabah’s Labuan International Campus (UMSKAL) to groom and mentor talents as well as provide new solutions for global financial markets.

“We need to institutionalise mentoring the right skill sets and aptitude to empower communities, enable commerce and enhance trade that is sustainable, and we see this happening in the UMS Labuan ecosystem,” Neurogine Group chief executive officer, Owen Chen Chee Onn said at the Letter of Intent (LoI) signing here Thursday.

He said the collaboration fits well with the group’s expansion strategy into key growth markets in Asia specifically Indonesia, Japan and China, with markets in Cambodia, Myanmar, Vietnam, Laos and Thailand in the pipeline. Chen said this collaboration will help realise Neurogine Group’s intent to ‘connect’ Asia with mobile first, banking, payment and investment solutions.

“The idea is right, the model is attractive and our financial markets are warming up to newer and more efficient ways of better returns, and all signs point to Asia taking a more active part in this space,” he said.

He said financial services for sectors like retail banking, capital markets and asset management are evolving and the expectation that it takes a lengthy period from breakthrough technology to mass-market application is collapsing.

He noted that Neurogine Group, through its Labuan-based subsidiary, Neurogine DX (L) Ltd, has completed the development of its intelligent order routing engine, nDAex, which can be used for investment trading and investment savings, among others.

Another Labuan-based subsidiary, Neurogine Capital (L) Ltd, introduced an investment trading platform service for South East Asia on Feb 20, powered by nDAex.

This service, named nTrade, accesses several Digital Asset Exchanges like Binance, Liquid and Kraken, accepting fiat currencies like USD, EUR, RMB, SGD and crypto-currencies like BTC, ETH, LTC, USDT to more than 51,000 pairs, the largest of its kind in this region.

“In the first day of launch itself, we had investors submitting applications to subscribe to nTrade’s services, and it was very encouraging to realise the potential of nTrade, especially with allowing investors to deposit, trade and withdraw to hot wallets, cold wallets or fiat accounts,” he said.

Investors are reassured such transactions fulfil regulatory requirements and under the watchful eyes of Anti Money Laundering and Counter Finance Terrorism (AML/ CFT) rulings.

“Our ability to develop and operate nTrade comes after our experience and success last November, after partnering with US-based, Cornerstone Management LLC, to develop and operate an investment savings platform meant for investors seeking better returns for their pension funds,” he said.

Neurogine Capital is licensed by the Labuan Financial Services Authority to operate money broking activities. –Bernama

   
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