Posts From Fintech News Hong Kong

ZA Bank Becomes First Virtual Bank to Fully Launch in Hong Kong

ZA Bank announced today that they are now a fully operational virtual bank with the launch of their ZA Go savings product, which according to them, enables customers to “grow their wealth in this ultra-low interest environment”. They further stated

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Manulife Rolls Out Digital Health Tool in Asia with Swiss-Based dacadoo

Manulife is announcing its collaboration with dacadoo, a Swiss-based global digital health platform provider to enhance the company’s digital offerings in Asia. Under this new partnership, dacadoo will strengthen Manulife’s existing health engagement platform, ManulifeMOVE, to enable customers to more

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UnionPay Launches Mobile Wallet in Pakistan Through Huawei Pay

UnionPay International announces today that it has rolled out the mobile payment product of Huawei Pay in Pakistan in partnership with Huawei and the National Bank of Pakistan (NBP), one of the largest commercial banks in Pakistan. The new service

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TransferWise Partners with Alipay for Instant Online International Money Transfers

 TransferWise, today announced a partnership with Alipay, to provide its users with fast, affordable and convenient international money transfers to China. According to World Bank stats, China is projected to be one of the top remittance recipient countries in the

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The Rise of Virtual Banks in Asia is Posing New Cybersecurity, Fraud Risks: Jumio

Across Asia-Pacific (APAC), regulators are opening up their markets to new entrants that promise to transform the traditional banking model. By leveraging digital platforms and cutting-edge technologies, virtual banks aim to offer more affordable and convenient banking services, and reach

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Standard Chartered’s Virtual Bank MOX Picks UK-Based Paymentology as Payment Processor

Shortly after Standard Chartered, PCCW, HKT and Trip.com unveiled its virtual bank MOX yesterday, UK-based Paymentology has come out to say that it is the cloud payment processor behind the new virtual bank Expanding into Asia and already working with

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Accenture: Incumbent Banks Are at Risk of Losing Billions to New Competitors

Incumbent banks are at risk of losing billions of dollars in retail revenues in the next three to five years, as new competitors draw customers with no-fee banking services and regulators in select markets mandate simple banking fee structures to

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Alipay Announces Three-Year Plan to Take On WeChat’s Mini Programs

Alipay, a leading mobile payment platform operated by Ant Financial Services Group, today announced a three-year plan to further open up its platform to support the digital transformation of 40 million service providers across China. The plan marks a major

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Standard Chartered Bank Unveils its Virtual Bank MOX

Mox Bank Limited (“Mox”) unveiled today its brand name, brand identity and website. Mox is the new virtual bank in Hong Kong by Standard Chartered in partnership with PCCW, HKT and Trip.com. Mox is among the eight entities that were

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Ant Financial Invests in Klarna to Introduce Pay Later Solutions to Alibaba’s Ecosystem

Klarna a Sweden-based fintech that provides pay later solutions announced that Ant Financial has taken a minority stake in it. This investment in Klarna by Ant Financial, the payment affiliate of Alibaba Group, supports the further development of their strategic

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