Virtual Banking

Reports of the Death of Challenger Banks Are Greatly Exaggerated

Against the backdrop of the cacophony of noise and emerging trends in Asia, it’s difficult even for the keenest of observers to determine what trends will shape the future of fintech in Asia. On the 6th episode of Fintech Fireside

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Virtual Bank ZA Enters the SME Market

ZA Bank announced the launch of their business banking which they say leverages “ZME Revolving Loan”, an unsecured business revolving loan, to help small and medium-sized enterprises (SMEs) of various industries overcome business constraints. In their media statement, they said

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Virtual Bank ZA Has Gained 300k Users Ahead of Its 1st Year Anniversary

ZA Bank, one of Hong Kong’s eight virtual banks, announced that it has now gained 300,000 users in time for its upcoming first year anniversary. ZA Bank was the first to have a soft launch of its virtual banking services

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WeLab Raises US$75 Million in Funding Round Led by Allianz

Hong Kong-based virtual bank WeLab announced that it has completed the initial close of Series C-1 funding led by Allianz X for US$ 75 million. Allianz X is the digital investment unit of the Germany-based Allianz Group, one of the

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Virtual Bank Livi Partners With Mastercard to Unveil a New Virtual Debit Card

livi bank, one of Hong Kong’s eight virtual banks, and Mastercard collaborated to unveil a new virtual debit card. livi said that the virtual debit card expands livi’s product line with a goal to support customers’ everyday living anytime, anywhere,

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LINE Bank Set to Launch Virtual Bank Soon to Its 21 Million Users in Taiwan

LINE Bank announced that it has been granted an operational license by Taiwan’s Financial Supervisory Commission to launch a virtual bank. LINE Bank has been working with the regulatory authorities on the due diligence process after being one of the

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Rakuten Officially the First Digital Bank to Launch in Taiwan

Rakuten International Commercial Bank (RICB) announced that it has officially launched operations making it the first digital bank in Taiwan. Established in May 2020, Rakuten Bank holds 50% of ownership while IBF Holdings owns 49% and the remaining 1% is

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Tencent’s Fusion Bank Signs on More Than 10,000 Customers Within 2 Weeks of Launch

Within 2 weeks of the public launch of Fusion Bank, the last of the eight virtual banks licensed by the Hong Kong Monetary Authority, the virtual bank has managed to secure over 10,000 customers. Previously known as Infinium Limited, the

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The Last Virtual Bank in Hong Kong Launched

Fusion Bank, Hong Kong’s virtual bank jointly owned by Tencent, Hong Kong Exchanges and Clearing, Hillhouse Capital and Perfect Ridge, has announced the full public launch of its banking services. Previously known as Infinium Limited, the virtual bank had soft-launched

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WeLab Bank Goes Live With Temenos’ Multi-Cloud Solution

Temenos, the banking software company, announced that WeLab Bank, Hong Kong-based virtual bank, has publicly launched using cloud-native Temenos Transact to provide a range of next generation digital services for their customers. Designed, built and launched in less than 10

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