ZA Bank Gets SFC License to Expand Footprint Into the Investment Businessby Fintech News Hong Kong January 24, 2022
Hong Kong’s virtual bank ZA Bank has received a license from the Securities and Futures Commission (SFC) for Type 1 regulated activity which allows it to deal with securities.
The bank claims to be the first local digital-only bank to receive said license and will officially launch its investment fund service in due course.
With this license, ZA Bank will be able to offer users simple and convenient investment services, with an initial focus on creating a different fund investment experience with an array of products in the pipeline.
ZA Bank added that users can then embark on a one-stop, holistic investment journey within its app anytime.
The virtual bank has a comprehensive product suite to address users’ integrated financial needs, through its 24/7 services covering deposit, loan, transfer, payment, and insurance.
Rockson Hsu, CEO of ZA Bank said,
“The obsession with user experience shows our determination to be the ‘Game Changer’ in the banking industry. Within just 2 years since our full launch, our dedication to innovative banking services has earned us the trust and support of more than 500,000 users. We look forward to further enhancing users’ experience with our game changing investment fund services!”