PNB launches Malaysia’s first micro-investing mobile app called ‘Raiz’

Last updated on May 6th, 2021 at 09:04 am

KUALA LUMPUR – Pemod Nasional Bhd (PNB) launches a micro-investing mobile application known as Raiz, the country’s first ever spare change investing app in an effort to bring greater awareness of the importance of savings and investing.

According to PNB president and group CEO Ahmad Zulqarnain Onn, the concept was in line with PNB’s effort to empower and encourage Malaysians to be more financially wise.

Almost 15,000 sign-ups has been register since the app were made available on June 1, 2020, the company are targetting 60,000 more sign-ups in the country by the end of the year.

The app also aims to provide cliens a convenient platform to save and invest in ASNB’s unit trust funds, and initially available exclusively for Maybank account holders.

Maybank group president and CEO Datuk Abdul Farid Alias hopes that the initiative will appeal to the younger segment and will encourage them to invest and save money throught the app.

PNB group chairman Tan Sri Dr Zeti Akhtar Aziz said that the Raiz app would compliment more than 90% of Malaysians using smartphones and can encourage them to start investing in today’s technological age.

The app will be available for all Malaysians to use. They can start investing as low as RM5 in their account. Raiz app was developed by Raiz Malaysia Sdn Bhd, a joint-venture company between Jewel Digital Ventures Sdn Bhd and Raiz Invest Australia Ltd.