Virtual Banking
Ping An OneConnect Bank Records HK$2.1 Billion Loan Assets Growth in FY2023
Ping An OneConnect Bank (Hong Kong) Limited, a virtual bank focused on small and medium enterprises (SMEs) in Hong Kong, has published its financial outcomes for the fiscal year ending 31 December 2023. The bank noted an increase in loan
Read More
Deep Diving into The Virtual Banking Scene in Hong Kong
Imagine a world where you can access all your banking needs at your fingertips without ever having to step into a physical branch. That’s the promise of virtual banks in Hong Kong – a new breed of digital-only financial institutions
Read More
ZA Bank Leverages Technology to Expedite Loan Approvals for Global Payments Merchants
ZA Bank has launched a new business loan in collaboration with Global Payments Asia-Pacific (Hong Kong) Limited, a subsidiary of Global Payments. This partnership allows eligible merchants within the Global Payments ecosystem to quickly and easily obtain ZA Bank’s pre-approved
Read More
ZA Bank Launches Banking Services for Stablecoin Issuers
ZA Bank has announced the launch of its dedicated banking services for stablecoin issuers, a significant advancement in its commitment to the Web3 financial sector. This service is designed to provide secure banking solutions for stablecoin issuers’ fiat reserves, further
Read More
ZA Bank’s Risk Prevention Tech Thwarts HKD 4 Billion Fraud, Earns Award from Police
Hong Kong’s virtual bank ZA has reported a 400% improvement in its risk control and cybersecurity capabilities through the use of in-house developed systems. The bank’s proprietary systems now allow for real-time fraud monitoring of 100,000 transactions daily, a fourfold
Read More
WeLab Digital Bank Unit in Indonesia Surpasses Half a Million Customers
Bank Saqu, the Indonesian digital bank developed through a strategic partnership between WeLab and Astra Financial, has reached the milestone of half a million new customers within the first three months of its operation. Simon Loong, Founder and Group CEO
Read More
Mox Partners Wise to Launch New Remittance Offering
Mox Bank has launched Express Remit, a new service powered by Wise Platform, offering customers a streamlined and cost-effective way to transfer money internationally. This service enables Mox customers to transfer funds internationally directly through the Mox app, offering transactions
Read More
Mox Bank Introduces Mox Invest for Enhanced Wealth Management
Mox Bank Limited has announced the rollout of Mox Invest, a new investment service available to its customers in Hong Kong. Mox Invest offers customers unprecedented access to the US and Hong Kong equities, as well as fund trading, setting
Read More
Mox Bank Revises Savings Base Rate for HKD and USD Deposits
Mox Bank announces an update to its savings base rate, now offering a rate of 1.5 percent per annum for Hong Kong Dollar (HKD) deposits. This updated rate, which is 170 percent of the typical savings base rates of most
Read More
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,
Read More