Rejina Rahim launched W Vault to allow one to efficiently organise their assets and liabilities (Photo: Shahrin Yahya/The Edge Malaysia)
Options: Congratulations on launching Wahine Capital’s inaugural product, W Vault. What is it?
Rejina Rahim: Launched on May 28, W Vault is essentially a digital vault, offering a secure online platform where users can confidently store important information and documents. With its user-friendly interface, W Vault allows one to efficiently organise their assets and liabilities, helping them manage their financial information effectively while addressing the vulnerability faced by women due to two primary factors. Firstly, women tend to outlive men and they are significantly impacted by events such as death, divorce, illness and retirement. Secondly, the inability to access crucial information when needed adds to this vulnerability.
We understand W Vault is designed by women for women. Tell us more.
Unexpected life events can have severe consequences on our financial well-being. This is particularly true for women who often have less savings, investments and assets, and may be unemployed or working in informal jobs without social security or medical benefits. Even expected events like retirement can create significant financial pressure, especially for single, divorced or widowed women responsible for looking after children and aged parents. This is where W Vault comes in, with the aim to guide and encourage women to plan ahead. Building sufficient financial buffers is crucial to ensure a comfortable future and emotional and mental security.
Tell us about your network of women experts and how you selected them.
I find that women are, in general, quite bad at promoting themselves. So, I thought why not connect the marketing of good experienced professionals while helping others at the same time? Since the intention was to connect users to women who can help them navigate life-cycle issues spanning finance, business as well as emotional areas, we chose experts whom we thought would be handy, such as a clinical psychologist, an ex-fund manager, an ex-private banker turned financial blogger, a commercial litigator, a Web3 expert and an economist. This is in addition to myself in investments and my co-founder Sherry [Sheriff] who has extensive experience in family law and gender studies. We plan to increase the number of experts in coaching as well as other areas, and are open to ideas as to who else and what subject matters should be included.
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What are your thoughts on Malaysian women and financial literacy?
Having been in the industry for 25 years, it was only upon the death of my sister did I realise there was so much I didn’t know. As a licensed person, you are not free to invest without multiple levels of approvals. When I started talking to many other professional women, their answers were similar to mine. All were curious as to where to put their money and wanted financial products that could be easily understood. Studies have shown that over 90% of us leave financial matters to our male partners. Many financial products are sold with the assumption that people know their risk tolerance and what they want. But when you break it down, most people don’t even understand the questions asked of them when buying unit trusts or insurance products. That’s what W Vault is trying to simplify, by having a dashboard that gives you a simple snapshot of your financial position, so you can start asking the right questions and planning for the future better, in a more cost-effective way.
What kick-started your own interest in finance and investment?
I have been keen on both from a young age as I knew that it equates to independence and control. Especially after I got married, I wanted financial independence so I could control what types of vegetables and cheeses I could consume and not necessarily agree with my husband’s brand choices! Seriously, though, it’s the emotional control that is most attractive rather than the numbers in itself. Having been in the investment industry reinforced this message. I could see from the retail clients’ perspective the emotional aspect of finance and investment that is often forgotten and ignored. Hence, after 25 years, the need to take real control was very strong and Wahine Capital became a reality soon after.
What books can you recommend to women wanting to improve their financial literacy?
They are plenty but not many that deal with the issue from a Malaysian perspective. The only one that simplifies things in a local context is Bergaji dan Pokai by financial blogger Suraya Zainuddin. I haven’t read it but I follow her and like how she breaks it down for the average person. I would also recommend The Psychology of Money by Morgan Housel and My Money My Way by Kumiko Love. The issue for most women with respect to money is that we fear talking and thinking about it. A lot of it rests with our limiting beliefs, so these two books are good introductions to dealing with the problem.
What are you reading for pleasure right now?
I have been slacking on reading for pleasure but was recently given Hilary Mantel’s The Mirror & the Light, which is part of the Wolf Hall trilogy. I just read Utopia Avenue last month by David Mitchell, an extremely entertaining read, especially if you like music from the 1960s. I love the author’s brilliance in creating a world that is so believably real.
What was your original childhood ambition, though?
I wanted to be a lawyer after watching loads of LA Law and Ally McBeal when I was growing up, hence the law degree and the bar finals. That was the practical aim, but I really do wish I could be a writer. I still have a good 25 to 30 years left in me, so that’s the future plan.
What’s on your Spotify playlist?
Muse because they are coming [to Malaysia] and [their songs are] a great pick-me-up as my values do align with their messaging in general. Musicals like Les Miserables or Miss Saigon because I am a closet shower singer. Podcasts like Keluar Sekejap, Dr Huberman and All-In. And, of course, my usual go-tos — 1980s music and 1990s rock peppered with classical music by Chopin or Binaural Beats while reading.
You are also quite the athlete. Tell us what your workout regime is like.
I definitely wouldn’t call myself an athlete. I am definitely a WIP (work-in-progress) runner and beginner yogi with over 20 years’ experience of going to classes! I love exercising. It’s a great de-stresser and helps keep the weight down as I love my food.
This article first appeared on May 29, 2023 in The Edge Malaysia.
