Virtual Banking
ZA Bank Gains Regulatory Nod to Offer U.S. Stock Trading in Hong Kong
Hong Kong’s ZA Bank has received regulatory clearance from the Securities and Futures Commission (SFC) to expand its services. This approval amends the bank’s existing license, allowing it to move beyond dealing in collective investment schemes. ZA Bank is set
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Bank Saqu Launches in Indonesia as WeLab’s Second Digital Bank in Asia
Hong Kong’s WeLab, in collaboration with Astra Financial, has launched Bank Saqu in Indonesia, marking its second digital banking venture in Asia. This new digital banking platform, operated by PT Bank Jasa Jakarta (BJJ), a joint venture between the two
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Over 45% of Individuals and 76% of SMEs in Hong Kong Have Virtual Bank Accounts
Virtual banks in Hong Kong have gained significant popularity in recent years, with over 45% of individuals and 76% of SMEs surveyed by the Hong Kong Association of Banks (HKAB) having an account. The survey also found that 30% of
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ZA Bank and Mox Bank Rank Among Top 10 Mobile Banking Apps in the World
ZA Bank and Mox Bank, two of the eight digital banks from Hong Kong, have ranked in the top 10 of Sia Partners’ 2023 Mobile Banking Benchmark, a global study of mobile banking apps. Sia ranked ZA Bank as 6th
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Privacy Commissioner’s Report Affirms ZA Bank’s Customer Data Protection Measures
The Office of the Privacy Commissioner for Personal Data (PCPD) has published an inspection report on the customers’ personal data system of ZA Bank, the first virtual bank in Hong Kong. ZA Bank was granted a virtual banking license by
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Mox Bank Appoints Home-Grown Talent Edwin Hui as COO
Hong Kong’s virtual bank Mox announced that it has promoted Edwin Hui as its Chief Operating Officer (COO), effective 1 July 2023. Mox said that he is the first home-grown senior executive to make it on to the C-level team.
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Mox Bags License to Roll Out Hong Kong and U.S. Equity Trading Services
Virtual bank Mox announced that it has obtained a Type 1 (dealing in securities) license from Hong Kong’s Securities and Futures Commission (SFC) to enable it to roll out Hong Kong and U.S. equity trading services. Mox will soon pilot
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livi bank and FWD Launches All-In-One Pet Insurance Offering
Hong Kong’s virtual bank livi has partnered with FWD General Insurance (FWDGI) to jointly launch a comprehensive pet insurance offering. Customers can easily apply for the Pet Care offering through the livi app. The insurance covers pet cats and dogs
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High Customer Costs a Drawback for Hong Kong’s Digital Banks Profitability
In the ever-evolving landscape of banking, even developed markets like Hong Kong face changing customer demands that traditional banks may struggle to meet. This has created an opportunity for digital banks to step in and offer highly personalized and digital
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ZA Bank Plans to Offer Crypto Trading for Its Retail Investors
Hong Kong’s virtual bank ZA said that it plans to introduce virtual asset trading services for retail investors under the city’s new licensing regime announced yesterday. By partnering with Hong Kong-licensed virtual asset exchanges, ZA Bank aims to obtain the
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