The assets under management (AUM) of MariBank, the Singapore-based digibank subsidiary of Sea Group, for Mari Invest, its investment account offering, have surpassed S$200 million (US$149 million).
Customers can purchase investment products through Mari Invest, such as the bond funds and MAS Bills that make up the Lion-MariBank SavePlus Fund. Distributed solely through Mari Invest, that product is managed by Lion Global Investors, a Great Eastern subsidiary and an OCBC Group member.
The total market value of the investments made under the Lion-MariBank SavePlus Fund is referred to as the AUM.
“Our customers resonate with Mari Invest’s simplicity and transparency, especially how it lowers traditional barriers to investing,” the digibank said in a LinkedIn post. “This includes the ease of withdrawal that Mari Invest provides.”
According to MariBank, more than one-third of customers with savings accounts have used Mari Invest.
The third digitally native bank in Singapore is MariBank, which began offering its services in March of last year by invitation only. It provides business accounts, business loan products, and personal savings accounts.
Parent company Sea Group, which also runs SeaBank in Indonesia, gave MariBank a US$172.5 million injection last July.
