Virtual banks have finally made an inroad into Hong Kong’s financial industry. The Hong Kong Monetary Authority (HKMA) has begun granting licences for virtual banks to operate in the special administrative area in March this year. To date, the HKMA have given the green light to four operators, with another four in the pipeline. For many, this move seems a little late and Hong Kong will be looking to play catch up with other Asian countries like Japan, South Korea and even it’s mainland counterpart. To contextualise things, Japan’s first virtual bank Japan Net Bank started operations as early as…
Author: Satoko Omata
Author
Satoko Omata
Satoko is a perpetually curious journalist who currently focusses on the crossroads where business and technology meet. Since stumbling into journalism in 2011, she has yet to find a dull day at work. It's a bit hard to track her down as she tends to travel where the story is, but come say hi if you see this rogue journo in the wild.