Virtual Banking

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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Hong Kong Institute of Bankers Welcomes 6 Virtual Banks as Its Latest Member

The Hong Kong Insititute of Bankers announced that that six virtual banks in Hong Kong have recently joined the Institute as Corporate Members: Airstar Bank Limited, Fusion Bank Limited, Livi VB Limited, Ping An OneConnect Bank (Hong Kong) Limited, SC

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ZA Bank First to Soft Launch Virtual Banking Service Despite Unrest in Hong Kong

Ever since the Hong Kong Monetary Authority (HKMA) dished out 8 virtual banking licenses much of Asia and perhaps even the world has been watching the space with great interest. Most of the players, including WeLab were aiming to launch their

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