Virtual Banking
Line and Rakuten Are Among The First to Receive Taiwan’s Virtual Banking Licenses
Taiwan’s Financial Supervisory Commission is said to have issued it virtual banking licences to three consortiums, according to a report by Reuters. The licenses were granted to Line Financial Taiwan, Next Commercial Banking (led by local telco Chunghwa Telecom) and
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Tencent & ICBC’s Virtual Bank Renamed to Fusion Bank
Infinium Limited, the virtual bank jointly owned by Tencent, Hong Kong Exchanges and Clearing, Hillhouse Capital and Perfect Ridge today announced that it has been renamed Fusion Bank. The Chinese name of the virtual bank, “Fu Rong”, carries an implied
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WeLab Eyes to Launch Virtual Bank by This Year
It’s been several months now since the Hong Kong Monetary Authority (HKMA) announced the 8 licensees granted approval to operate a virtual bank in Hong Kong. Since then all the players were clamoring for talent and racing to launch their
Read MoreLivi VB’s New Trump Card is a CEO With Experience in China’s First Virtual Bank
Due to the worryingly slow development of digital banking in Hong Kong, regulator Hong Kong Monetary Authority (HKMA) granted virtual banking license it to a total of 8 virtual banks. Since then, these companies have been locked in an intense battle for talent as they
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A Snapshot of Fintech in Hong Kong in 2019
Hong Kong is expected to see a boost in fintech activity after a relatively disappointing year in 2018 as the region saw a sharp dip in the total value of investments. According to Accenture, this was due to new measures
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Meet Hong Kong’s 8 New Virtual Banks
UPDATE: Four of Hong Kong virtual banks have since launched, check out our latest article to find out the progress on Hong Kong’s virtual banking scene Hong Kong Monetary Authority (HKMA) has announced a grand total of eight virtual banking
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Hong Kong’s Virtual Banks May Have to Look Beyond its Borders in Their Battle for Talent
Virtual banks have finally made an inroad into Hong Kong’s financial industry. The Hong Kong Monetary Authority (HKMA) has begun granting licences for virtual banks to operate in the special administrative area in March this year. To date, the HKMA
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Li Ka-Shing Backed WeLab is the First Homegrown Fintech Granted Virtual Banking License
WeLab has been granted a virtual banking license by the Hong Kong Monetary Authority (“HKMA”), becoming the first homegrown Hong Kong fintech company to establish a virtual bank. This brings the total number of approved virtual banking players in Hong
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Even This Fintech Unicorn Thinks Hong Kong’s Virtual Banking License is Too Restrictive
The virtual banking race is on for different regions across the globe, and the Hong Kong Monetary Authority (HKMA) has put its hat in that race with the virtual banking license, as part of a larger plan to turn Hong
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