StashAway Brings Data-Driven Wealth Management to Thousands of New Clients with Seamless Scalability from Lightbend
Customer Company Size
Startup
Region
- Asia
- Middle East
Country
- Singapore
- Hong Kong
- Malaysia
- United Arab Emirates
Product
- Akka Platform
- ERAA (Economic Regime-based Asset Allocation)
Tech Stack
- Event Sourcing
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Customer Satisfaction
- Productivity Improvements
Technology Category
- Platform as a Service (PaaS) - Connectivity Platforms
- Analytics & Modeling - Predictive Analytics
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Remote Asset Management
Services
- Software Design & Engineering Services
- System Integration
About The Customer
Founded in 2016 in Singapore, StashAway is a digital wealth management platform for retail customers and accredited investors. Using its proprietary investment framework ERAA (Economic Regime-based Asset Allocation), StashAway intelligently navigates macroeconomic data to deliver superior returns while maintaining a predefined risk exposure for customers. With retail fund management licenses in Singapore, Malaysia, the United Arab Emirates, and Hong Kong, StashAway has more than US$1 billion in assets under management as of January 2021. The company is also on track to launch its service offering in Thailand later in the year.
The Challenge
To bring its offering to life, StashAway targeted a way to aggregate thousands of individual customer trades into one, and then to immediately distribute the share units and funds back to each customer as soon as the trade is executed and settled. StashAway’s capital markets license requires the company to carry out these settlement processes on time, every time, as defined by the rules of the Monetary Authority of Singapore and the respective regulatory entities in the other markets in which the company operates. The penalties for non-adherence to these rules are severe: from fines to the suspension of operations or even the complete revocation of the company’s license to conduct business. As StashAway began to develop ERAA, it recognized that its choice of technology platform had the potential to make or break its bold vision for industry disruption.
The Solution
To deliver mission-critical event sourcing capabilities for its newly formed business, StashAway selected Akka Platform from Lightbend to power its core trading system. The Akka Platform environment at StashAway supports almost every aspect of the financial transaction lifecycle, including bank statements, rebalancing of portfolios, reoptimizing target allocations across economic regimes, as well as order execution, fee charging, and more. StashAway uses Akka Platform to guarantee message delivery at scale, using event sourcing to operate its own omnibus accounts that hold the ledger for its customers. The native event-sourcing features of Akka are vital to maintain an accurate audit trail for every transaction, while effectively managing the complexity of the event processing involved in guaranteeing transactional correctness.
Operational Impact
Quantitative Benefit
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