Virtual Banking
Hong Kong Based Neat Raises US$11M to Provide Digital Financial Services for SMEs
Neat, a Hong Kong-based fintech company offering modern financial solutions to SMEs and startups, today announced raising an $11 million USD Series A funding round. Pacific Century Group (PCG) led the round with participation from Visa, and MassMutual Ventures Southeast
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Xiaomi and AMTD’s Airstar Bank Launches Pilot Trial of Virtual Banking Service
Airstar one of Hong Kong’s new virtual banks, today announced the launch of a pilot trial which is conducted within the Fintech Supervisory Sandbox (“FSS”) of the Hong Kong Monetary Authority (“HKMA”). The pilot trial will offer virtual banking services
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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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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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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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OneConnect Selected as Tech Partner by Singapore Digital Banking Consortium BEYOND
Ping An’s OneConnect has been selected as a strategic partner by Singapore based digital banking consortium BEYOND to jointly develop digital banking products and services for Singapore’s SME sector and their workforce. OneConnect is among the 8 entities who was
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ZA Bank Picks Fiserv to Power its Cards Payments
Fiserv, a global tech vendor for financial services and ZA Bank the first virtual bank to soft launch in Hong Kong announced today that the bank will be using Fiserv to power its entire card payment lifecycle which includes; origination, card
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One In Two Hong Kongers Are Open To Try Virtual Banks
One in two Hong Kongers are likely to open an account with a virtual bank with a tenth saying they will definitely do so, according to a study by Visa. The Future of Commerce: Consumer Payment Attitudes Study by Visa
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