Virtual Banking
Mox Bank Appoints Home-Grown Talent Edwin Hui as COO
Hong Kong’s virtual bank Mox announced that it has promoted Edwin Hui as its Chief Operating Officer (COO), effective 1 July 2023. Mox said that he is the first home-grown senior executive to make it on to the C-level team.
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Mox Bags License to Roll Out Hong Kong and U.S. Equity Trading Services
Virtual bank Mox announced that it has obtained a Type 1 (dealing in securities) license from Hong Kong’s Securities and Futures Commission (SFC) to enable it to roll out Hong Kong and U.S. equity trading services. Mox will soon pilot
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livi bank and FWD Launches All-In-One Pet Insurance Offering
Hong Kong’s virtual bank livi has partnered with FWD General Insurance (FWDGI) to jointly launch a comprehensive pet insurance offering. Customers can easily apply for the Pet Care offering through the livi app. The insurance covers pet cats and dogs
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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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ZA Bank Plans to Offer Crypto Trading for Its Retail Investors
Hong Kong’s virtual bank ZA said that it plans to introduce virtual asset trading services for retail investors under the city’s new licensing regime announced yesterday. By partnering with Hong Kong-licensed virtual asset exchanges, ZA Bank aims to obtain the
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Fintech Reaches Mainstream Adoption in Hong Kong with 94% Penetration
In Hong Kong, fintech is reaching mainstream adoption among consumers. Digital payments are becoming the norm in people’s daily lives, virtual banking and wealthtech are gaining rapid traction, and virtual assets are emerging as a legitimate new asset class that
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Ant Group Considers Selling Its Stake in Digital Bank Subsidiary
Chinese fintech giant Ant Group is mulling the sale of its stake in its Hong Kong-based virtual bank, according to Bloomberg, citing people familiar with the matter. The report added that the plans are still in preliminary stages as Ant
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ZA Bank Steps up Security When Users Bind Their Visa Cards With Digital Wallets
Hong Kong’s virtual bank ZA said that its users are now required to complete additional authentication when binding ZA Card to new digital wallets. The new measure for contactless mobile payments seeks to offer a more secure spending experience and
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livi Reports Strong Growth in 2022, Records HK$3.1 Billion Deposits
Hong Kong’s livi bank, has announced accelerated growth in 2022 driven by revenue-generating offerings in retail banking, small and medium-sized enterprise (SME) banking, and the Greater Bay Area (GBA). The bank’s operating income turned positive in 2022, reaching HK$17 million,
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ZA Bank Plans to Become the Go-to Bank for Web3.0 Startups
Hong Kong’s virtual bank ZA has announced its plan to become the go-to bank for the Web3.0 ecosystem, providing essential banking services to these enterprises. ZA Bank said that it is now fully equipped to serve as the settlement bank
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