The latest technology news in the wealth management sector from around the world.

Tencent
Tencent Cloud, which is the cloud computing arm of Singapore’s Tencent sovereign wealth fund, has signed an agreement with Asia Digital Bank Corporation in Singapore. The memorandum of understanding kicks off collaboration on financial services and a range of innovations towards a data-driven digital bank, the organisations said.

The parties to the agreement said that COVID-19 has exposed the need for updated banking services to run alongside traditional banking.

ADBC, supported by Yincubator Private Limited, a Singapore-based innovation advisory firm, is exploring its collaboration with Tencent Cloud to design and setup a technically advanced cloud platform.