About Wu Tianhua
In a June 2024 interview, Tiger Brokers CEO Ian Leong stated that Singapore accounts for more than 50% of the company's total client assets and that one in every three Singapore permanent residents is a user of the platform. He attributed the company's growth since its 2020 launch during the COVID-19 period to a streamlined onboarding process of under five minutes and competitive fees. Leong expressed confidence in further growth through technology and a multiproduct strategy, noting that Tiger Brokers is currently the top online broker in Singapore.
Leong highlighted product innovations in the first half of 2024, including the launch of a debit card for brokers in the region, 24-hour US trading, and a cash boost account. Addressing concerns about post-COVID slowdown, he said that platform support remained strong and that the company recorded its highest revenue in three years in the first quarter of 2024.
Source: AI-verified profile updated from Wu Tianhua's recent appearances.
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Transcript (3 segments)
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Wu Tianhua0:13
Permanent residents itself, one is actually a user in Singapore. Yes, so when we actually first started off back in 2020 itself, it was actually during the COVID period. Yes, so there was actually quite a number of pain points at a time. First and foremost, when it comes to the platform, when it comes to client onboarding, it was ridiculously long. When it comes to sign of the brokers and fees, that time was actually quite expensive. So when we came into the market, when users and investors in this region actually saw that our platform is actually pretty robust and actually provides a multi-faceted functionalities, products, and markets, and in the meantime they were for the investment needs itself, and when it comes to Singapore, where you have a total population when it comes to the adults of more than 2 million, we actually see the potential in this market itself. So leveraging on technology and our multiproduct strategy, we are confident to actually grow even deeper and stronger, even though we are the top broker in Singapore when it comes to online space right now.
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Interviewer1:42
Yes, Ian. You mentioned something a while ago about how the pickup actually happened because you launched around the COVID-19 pandemic. Now during that time, a lot of people picked up a lot of things. Some people picked up yoga and cycling, some people picked up investing as well. Now that we're about two years out of users itself, so just for this year for the first half of 2024 itself, you'll see that we actually launched our very first debit card, first for brokers in this region itself, our Tiger Brokers debit card itself. In the meantime, we also launched a 24-hour US trade, and last but not least, we also started to actually provide the cash boost account. We actually allow clients to actually use contract trading strategies too actually in their investment journey itself. So for us, it's always about innovating, giving what clients need, and to even a certain extent of anticipating what are their needs before they even know it.
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Wu Tianhua3:10
Do note that from our first quarter report itself, we actually recorded the highest revenue in the past three years. Yes, so support for Tiger Brokers in this region is still very strong itself.
