Best Investing Solution Winner: Webull Securities (Australia) Pty Ltd

Published: Jan 2024
Photo of Bernard Teo and Huilin Tan, Webull Securities Pty Ltd and Kylla Fu, J.P. Morgan.

Photo of Bernard Teo and Huilin Tan, Webull Securities Pty Ltd and Kylla Fu, J.P. Morgan.

Rob Talevski

Webull logo

Established in 2017, New York-headquartered Webull is a leading digital investment provider that serves tens of millions of users from 180 countries across the world.

in partnership with

J.P. Morgan logo

Technology-enabled solution delivers investment platform for Webull

The challenge

Relatively new to Asia Pacific (APAC), Webull received its Australian Financial Services (AFS) license in June 2022 to launch its trading business in Australia by end of the year. The company sought a global banking provider that could deliver a next-generation treasury infrastructure to power its mobile trading platform and help navigate and meet complex regulations and expectations of operating an online brokerage platform in Australia.

Webull’s key requirements included:

  • Meeting strict anti-money laundering (AML) regulations to safeguard investor monies through verification and clear segregation of funds.

  • Access to real-time data exchange across FX, payments, credit confirmation and reporting as well as offering a full suite of local retail payment methods to empower investors to trade in real-time, 24/7.

  • Scalability of the solution to support its ambitious regional expansion plans in APAC.

The solution

Webull collaborated with J.P. Morgan to co-create powerful next-generation solutions that leverage artificial intelligence (AI), machine learning, APIs and smart sub-ledgering technologies to power Webull’s backend system with 24/7 trading capabilities to run in parallel with its intuitive front-end trading platform and enable Australian investors to seamlessly trade across global bourses.

The company launched its investment platform in Australia in December 2022 – marking a swift implementation of just six months, including a speedy two-month technical integration, since receiving its AFS license.

Webull established API connectivity with J.P. Morgan for real-time data exchange across the end-to-end treasury workflow including FX execution, payment initiation, instant credit-confirmation and reporting, ensuring a seamless global trading experience for investors around the clock. More recently, Webull also tapped into the bank’s AI-powered cash flow intelligence tool to understand historical cash flows, identify patterns and glean insights into investors’ trading behaviours, with the ability to make more precise cash flow forecasts through sophisticated machine learning models.

We are extremely humbled to receive such a high honour from Adam Smith Awards Asia in being named the overall winner for the Best Investing Solution. And especially to be among a prestigious cohort of such well known global brands that make up the overall winners for 2023.

More importantly the award also recognises not only the dedication of our local and global teams in delivering cutting edge technology solutions but also our commitment to our clients in providing them with the best products and solutions to support their wealth creation and in turn meeting our mission statement of ‘enjoy tech. enjoy investing’.

Rob Talevski, CEO

Best practice and innovation

Webull has created a next-generation investor ecosystem that’s underpinned by powerful technologies including AI, machine learning, APIs, real-time payments and smart sub-ledgering – allowing its investors to enjoy a 24/7 global trading experience through an intuitive trading platform that’s powered by an advanced backend infrastructure driven by real-time data exchange and automated workflows, and fully compliant with local licensing and AML regulations.

Combined with the use of virtual reference numbers (VRNs) on regulated client money accounts, API-powered automated FX hedging and settlements, as well as AI and machine learning backed models to track trading behaviours and deliver accurate cash flow forecasting, every aspect of Webull’s infrastructure is notably powered by digitisation.

The overall implementation time of six months, including a short technical integration, since receiving its AFS license marks an equally remarkable feat for Webull, and the company’s success in in Australia is clear from its fast-growing investor base that has reached over 100,000 users within just six months since rollout.

“More importantly, the new-age treasury solutions are scalable across the rest of our APAC footprint, allowing us to seamlessly replicate the best practices in Australia to other locations,” says Rob Talevski, CEO.

Key benefits

  • Cost savings.

  • Headcount savings.

  • Number of banking partners/bank accounts reduced.

  • Process efficiencies.

  • Improved key performance indicator (KPI) metrics.

  • Return on investment (ROI).

  • Increased automation.

  • Risk mitigated.

  • Improved visibility.

  • Errors reduced.

  • Manual intervention reduced.

  • Increased system connectivity.

  • Future-proof solution.

  • Exceptional implementation (budget/time).

  • Quality accreditation achieved.

Mahesh Kini

Head of APAC International Banking, J.P. Morgan Commercial Banking

The Webull team is focused on providing their clients with the technology to access information, tools, services and opportunities to make informed investment decisions. J.P. Morgan is proud to collaborate with Webull to offer an enhanced user-experience. We have witnessed their commitment to delivering for their clients and we are delighted to be a part of their journey as they continue to expand their business in Australia.

in partnership with

J.P. Morgan logo

The Adam Smith Awards Asia is the industry benchmark for best practice and innovation in corporate treasury. The 2023 awards attracted 450 nominations. To find out more please visit treasurytoday.com/adam-smith-awards-asia

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