Empowering Lives Through Wealthtech

Whether it’s her conversations with her children or spearheading the growth of the ADDX digital securities exchange, Oi-Yee Choo is on a mission to democratise the investment landscape.

- Karen Tee

Oi-Yee Choo admits that she is not a tiger mum. She is firm, however, about exposing her teenage daughters, aged 16 and 18, to different aspects of financial literacy.

Her older daughter coaches gymnastics part-time to earn spending money, and family conversations often include financial concepts such as rents and mortgage, compound interest and cryptocurrency. Occasionally, when Choo, a banking veteran, gets riled up about current affairs, that turns into a learning moment as well.

“There was a phase when I ranted about scams in the market, so they are aware to not take things for granted, just because it is digital,” says the CEO of digital securities exchange ADDX.

This is also how she fills what she perceives as a gap in the current educational system. “Financial education should be a life skill no matter what path an individual takes. It needs to be a fundamental part of the curriculum, but it is not recognised today,” she stresses.

“It used to be quite simple where when you put your money in the bank, the bank’s savings interest rate was enough to carry you through. Today, that is no longer the case.”

For this reason, Choo teaches the kids concepts such as risk profiles and the alternatives to placing cash in the bank, as outdated 70:30 investment portfolios (70 per cent to stocks and 30 per cent to fixed income) are now insufficient for the next generation to retire. “It is important that kids experience risk and accept it as part of their lives. It’s not just about understanding money, but also managing your reaction to losing it,” she adds.

GAME-CHANGING WEALTHTECH