Virtual Banking
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
Read More
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
Read More
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
Read More
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
Read More
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
Read More
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
Read More
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
Read More
WeLab Raises US$ 156 Million — Gearing up To Launch WeLab Bank by 2020
WeLab, one of the 8 companies granted license from the HKMA to operate a virtual bank announced today that it has raised US$ 156 million ( HK$ 1.2 billion) of Series C strategic financing, which makes it one of the
Read More
After Hong Kong, Ant Financial is Now Eyeing Virtual Banking License in Singapore
Fresh off securing virtual banking license in Hong Kong, Ant Financial confirms that they are actively looking into pursuing virtual banking license in Singapore. Previously, Ping An’s One Connect and AMTD Group have also voiced similar ambitions, making this the
Read More
Challenger Bank Tandem Recruits Ex-HSBC Banker Ahead of its Hong Kong Launch
Tandem, a full-service digital bank in the UK, announced that they have appointed ex HSBC banker Kunal Malani as their Chief Growth Officer. This news follows their earlier announcement that targetting to launch their digital financial services in Hong Kong
Read More