SC Ventures, the innovation and ventures unit of Standard Chartered has entered into a partnership with asset manager FranklinTempleton to launch “Autumn”, a wealth, health and lifestyle platform in the Lion City, according to a joint-statement by the firms.
The digital platform was incubated in and backed by SC Ventures, and it aims to help people to plan and manage their financial and physical affairs by providing tools, products, and services across all aspects of wealth, health and lifestyle.
The target market is Asia’s “aging population”, according to SC Ventures, which referred to a a recent United Nations study that estimates that 15% of the region’s population will be over 65 by 2040.
“By combining digital wealth technology with health, lifestyle and financial wellness, we’ll help users adopt healthier habits and create a retirement that is personalised for them,” said Mike Kruger, chief executive officer of Autumn.
Autumn’s mobile application combines their banking, investment, insurance and healthcare data into a single dashboard. Users can plan for their financial future using personalised goals, scenario analyses and portfolio stress testing before executing their individual plan by transacting across several product providers and asset classes.
With this strategic partnership, Franklin Templeton will be an asset management partner of Autumn. The platform will provide users with access to curated financial literacy content from the Franklin Templeton Academy and investment insights from Franklin Templeton’s Investment Institute.
Users can get advice on their model portfolio based on their risk profile and their financial data. The implementation of the Franklin Templeton Academy and investment insights will take place in the coming months.
At the next phase, Autumn will provide guidance about how lifestyle choices will likely affect people’s retirement plans by using data from third-party health applications. Autumn will also be bringing lifestyle partners onboard, including travel services and volunteering opportunities.
The platform is available to the public on both the iOS and Android app stores and will be offered via distribution partners for premium services in the future.
Plans are underway to roll platform out progressively in Hong Kong and other markets in Asia, according to the statement.