Saxo Bank, the online multi-asset trading and investment specialist, has reached an agreement with Chinese financial technology firm Phoenix Finance to form a white label partnership.
The partnership is expected to launch within the next three months.
The partnership will empower Phoenix Finance to integrate Saxo Bank’s investment and trading capabilities directly into their own applications and systems, and to enhance the offering to clients. Through the bank’s Open API, which was launched in 2015, users will be able to access over 20 years of trading experience.
On the other hand, Saxo Bank will obtain a new distribution channel in new markets, as Phoenix Finance has a strong reach to overseas Chinese investors.
Significance of the partnership
Under the terms of the agreement, Phoenix Finance will white label Saxo Bank’s multi-asset trading technology which offers access to more than 30,000 financial instruments.
Phoenix Finance operates an online financial information and wealth management platform for both the public and private sectors, with more than three million registered users and a transaction volume of around $4.6 billion.
“We are delighted to be working with Phoenix Finance on this new partnership which demonstrates our ongoing commitment to becoming a trading facilitator and technology provider for banks and brokers around the world,” said Adam Reynolds, CEO of Asia Pacific at Saxo Bank.
Mr. Reynolds added that the partnership is a good example of win-win created through collaboration in the financial sector.
“Phoenix is ecstatic about partnering with Saxo Bank, the leading global financial technology provider,” said Vince Zhang, President of Phoenix Finance.
He emphasized that Phoenix will now be able to expand its product depth and provide a more diverse product portfolio and innovative analytical tools.
About Saxo Bank
Saxo Bank is a fully licensed and regulated Danish bank specializing in online trading and investment across global financial markets.
Saxo’s award-winning trading platforms are available in more than 20 languages and form the technology backbone of more than 100 financial institutions across the globe.
It has a strong international network employing more than 1500 people in financial centers like London, Paris, Singapore, Zurich and Dubai.