The Principal 2021 Asia Pacific Summit was recently held with the themed “Risk, Resilience, Recovery: Global Markets in Transition” where the third day “Resilience in this Digital Age” focused on the megatrends shaping the digital ecosystem.
Thomas Cheong, executive vice president of Principal Financial group and president of Asia for Principal, highlighted how Principal is leveraging technology to foster a world where financial security is accessible to all. “We’re seeking out new ways to bring our deep retirement and investment expertise outside of traditional financial services channels, creating end-to-end digital solutions and opportunities for customers to manage their investments online and via mobile channels,” said Cheong. “With our customers at the center of our business strategy, we want to be their first-choice partner as we put a better financial future in the palm of every customer, we do business with.”
Principal is committed to providing financial accessibility to all Malaysians irrespective of their background, developing inclusive solutions to cater to their changing needs, enhancing consumers’ financial knowledge, and using technology to connect and engage with consumers on their terms.
Munirah Khairuddin, chief executive officer of Principal Asset Management, echoed the importance of technology in bridging the gaps and improving financial inclusion. “With our latest offering, Principal e-Cash Fund available in the mainstream e-Wallet space through our partnership with Touch ‘n Go Group, we see strong participation from the public and out of Klang Valley too.” She notes the Principal e-Cash Fund user demographic breakdown comprises of 28% for Kuala Lumpur and Selangor, and 72% for other states combined, as of 10 June 2021.
Munirah also touched on the importance of prioritizing financial security as Malaysia moves towards officially becoming an ageing nation in 2030, when 15% of its population will be 60 and above. “During the pandemic, more people made withdrawals from their mandatory retirement accounts. As the pandemic recovery continues, Principal is going to play an important role, providing the financial education people need, so they can develop better saving habits and achieve their long-term financial goals.” she said. Learn more about Principal Asset Management at http://www.principal.com.my or call 603-7718 3100.