Tag "digital banks"
High Customer Costs a Drawback for Hong Kong’s Digital Banks Profitability
In the ever-evolving landscape of banking, even developed markets like Hong Kong face changing customer demands that traditional banks may struggle to meet. This has created an opportunity for digital banks to step in and offer highly personalized and digital
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China Leads 2022 Ranking of Top Digital Banks in Asia-Pacific
China’s WeBank, MYBank and Suning Bank were named the top three leading digital-only banks in Asia-Pacific (APAC), recognized for their growth and success by The Asian Banker’s inaugural ranking of the world’s leading digital banks. The Global Top 100 Digital
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Hong Kong’s Digital Banks Will Operate at a Loss for at Least the Next 2 Years
Despite advantages including cheaper operational costs and backing from tech firms with deep pockets, Hong Kong’s digital banks will face hurdles in turning a profit. These eight newcomers will have to operate at a loss for at least the next
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Virtual Banks Could Serve a Quarter of Hong Kong’s Population by 2025
By 2025, virtual banks could be serving a total of 1.9 million customers, or 24.9% of the Hong Kong population, and hold a combined revenue market share of 19.3%, estimates Quinlan and Associates. Though not insignificant, the consulting firm forecasts
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Taiwan’s First Virtual Banks: The Progress So Far
In July 2019, the Financial Supervisory Commission of Taiwan (FSC) gave its approval for the establishment of three virtual banks, though none of them have launched yet. Line Bank, a consortium led by Japan’s Line, was amongst the three companies
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