#WealthManagement / Grab launches micro-investment, third-party loan and BNPL offerings

It has launched its first micro-investment service, alongside a third-party loan platform and buy now, pay later (BNPL) products for ecommerce websites…

Called ‘AutoInvest’, Grabs micro-investing offering allows its Singapore-based users to automatically invest with every transaction… The product launch follows Grab’s acquisition of robo-advisory firm Bento in February.

Customers set the limits, which can be as low as $1. They can earn returns of around 1.8% per annum, which can be withdrawn at any time with no penalties.

… Investing aside, Grab is also extending its credit offerings by opening up its consumer loan platform to third party providers… This fintech is integrating with bank’s application programme interfaces (APIs). This will enable users to search for and apply for loans directly within the Grab app.

Whilst Grab’s BNPL lets users shop online and choose the option to pay in interest-free instalments at the checkout.

https://www.fintechfutures.com/2020/08/grab-launches-micro-investment-third-party-loan-and-bnpl-offerings/