Tag "Digital banking"
Hong Kong Virtual Banks Struggle to Attract Deposits
Customer deposits are a critical pillar for virtual banks’ operations in Hong Kong, serving as a core foundation of their future growth and success. However, most Hong Kong virtual banks are facing challenges around their customer acquisition and deposit strategies,
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Redefining Finance for Good: HK’s Chong Hing Bank Sees Digital Shift for Older Customers
Around the world, the COVID-19 crisis has forced banks and their customers to turn to digital tools and processes to compensate for branch and office closures. Many industry participants believe that the digital acceleration taking place today will have a
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Internet Giants Are Threatening Incumbent Banks
“Bigtechs,” or Internet-based platform companies such as Amazon, Alibaba, Facebook and Tencent, are making inroads into the finance and banking business, threatening incumbent banks that are not responding fast enough to the digitalization of the industry, according to a new
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Top 8 Hong Kong & China Fintech News For This Week
Hong Kong and China Fintech scenes have been booming latterly. There are some big news from these two fintech communities this week, such as China Central Bank sets up fintech committee, Alibaba invests in its first fintech company in Hong
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More Banks Shut as Digital Banking Takes Over
The way in which we bank is changing. Bricks and mortar branches are expensive to run with high rents, salaries, and dedicated tech installations. Some of the challenger banks have no physical presence and there is an abundance of customers
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