Launched in 2021, Versa Cash is the fintech’s flagship product, offering users returns on-par with fixed deposits (FD), coupled with the convenience of flexible withdrawals at any time. Versa Cash allows users to earn stable returns on their idle savings by tapping into money market funds, traditionally accessible to high-net-worth individuals.
User-Friendly - Through its suite of innovative and user-friendly wealth solutions, the digital wealth management service provider is making savings and investing easy and accessible for all Malaysians. Thecompany’s core strength lies in making complicated wealth products relatable to the younger generation, which represents almost 90% of its users.
User can start an account with us from as low as RM10. The minimum investment amount for Versa Cash is RM10, while it is RM100 for Versa Invest. In response to diverse market demands, Versa has also recently introduced Versa Cash-i, a syariah-compliant fund, enabling users to perform same-day withdrawals.
Service Fees- Versa’s key proposition is that its wealth offerings have no sales charges, compared with the typical 3% to 5% sales fee charged by agents. The key operational challenge Versa faced was the need to convince multiple parties in order to have a proper go-to-market plan.
Versa’s tie-up with AHAM Capital, one of the top three asset managers in the country with assets under management of almost RM80bil, provides the fintech with the access to the right wealth tools for its customers.
Since its launch two years ago, Versa has transacted almost RM500mil through its platform, with 90% of these flows coming from users below 40 years old.
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