Virtual Banking
Fintech Reaches Mainstream Adoption in Hong Kong with 94% Penetration
In Hong Kong, fintech is reaching mainstream adoption among consumers. Digital payments are becoming the norm in people’s daily lives, virtual banking and wealthtech are gaining rapid traction, and virtual assets are emerging as a legitimate new asset class that
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Ant Group Considers Selling Its Stake in Digital Bank Subsidiary
Chinese fintech giant Ant Group is mulling the sale of its stake in its Hong Kong-based virtual bank, according to Bloomberg, citing people familiar with the matter. The report added that the plans are still in preliminary stages as Ant
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ZA Bank Steps up Security When Users Bind Their Visa Cards With Digital Wallets
Hong Kong’s virtual bank ZA said that its users are now required to complete additional authentication when binding ZA Card to new digital wallets. The new measure for contactless mobile payments seeks to offer a more secure spending experience and
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livi Reports Strong Growth in 2022, Records HK$3.1 Billion Deposits
Hong Kong’s livi bank, has announced accelerated growth in 2022 driven by revenue-generating offerings in retail banking, small and medium-sized enterprise (SME) banking, and the Greater Bay Area (GBA). The bank’s operating income turned positive in 2022, reaching HK$17 million,
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ZA Bank Plans to Become the Go-to Bank for Web3.0 Startups
Hong Kong’s virtual bank ZA has announced its plan to become the go-to bank for the Web3.0 ecosystem, providing essential banking services to these enterprises. ZA Bank said that it is now fully equipped to serve as the settlement bank
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Fusion Bank’s Investment Service Is Now Live
Fusion Bank has announced the launch of its investment service to enable its users to invest in global funds with subscription thresholds as low as HK$10 (US$1). The bank said that its customers can activate the investment service in five
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Rakuten Bank All Set for Japan IPO in April
Japan’s Rakuten Bank will be listed on the Tokyo Stock Exchange on 21 April which will place its value at approximately 305 billion yen (US$2.31 billion), according to a Reuters report. Rakuten is looking to is looking to sell off
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Fusion Bank Launches Business Banking Services
Fusion Bank has launched Business Banking Services for local small and medium-sized enterprises (SMEs) to help them with their digitisation plans. The offering includes diversified banking services including multi-currency savings accounts, time deposits, local transfers via the Faster Payment System
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Hong Kong’s Banking Customers Expectations Are Shifting — Here Are The Key Findings
In Hong Kong, COVID-19, the advent of virtual banks and changing customers’ expectations are transforming the retail banking landscape, prompting customers to increase their usage of online channels and embrace digital financial products, a new survey by Bain and Company
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Ronald Iu Steps up as New CEO of ZA Bank
Hong Kong’s virtual bank ZA announced the appointment of Ronald Iu as its Chief Executive Officer and Executive Director. He succeeds Rockson Hsu who has stepped down to pursue other opportunities. Ronald joined ZA International, the parent company of ZA
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