Virtual Banking
Rise of Super-Apps Puts Pressure on Incumbents
In Asia, bigtechs and new digital banking challengers are rapidly gaining ground, forcing incumbent banks to rethink their business strategy and become a part of the super-app ecosystem, a new report by Finextra, in association with Infosys Finacle and OneSpan,
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WeLab Officially Launches Its Digital Wealth Advisory Solution
Hong Kong’s virtual bank WeLab announced that it has launched its digital wealth advisory solution, GoWealth Digital Wealth Advisory (GoWealth). Customers can now kick start their personalised investment plan from HKD100. In April this year, WeLab was granted Type 1
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Astra and WeLab to Acquire Close to 50% Stake in Indonesian Digital Bank Jasa
Indonesian conglomerate PT Astra International through its subsidiary PT Sedaya Multi Investama (SMI), together with Welab Sky, a consortium led by Hong Kong digital bank WeLab, plans to jointly acquire Indonesia’s PT Bank Jasa Jakarta (BJJ). As of last year,
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China Leads 2022 Ranking of Top Digital Banks in Asia-Pacific
China’s WeBank, MYBank and Suning Bank were named the top three leading digital-only banks in Asia-Pacific (APAC), recognized for their growth and success by The Asian Banker’s inaugural ranking of the world’s leading digital banks. The Global Top 100 Digital
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livi Launches Futuristic Rabbit-Themed NFT “Mochi” to Mark Its 2-Year Anniversary
Hong Kong’s virtual bank livi is marking its second anniversary with the launch of NFT artwork collectibles “Mochi” that will be its new icon. According to livi, Mochi has “travelled from the future to 2022 to scout for like-minded individuals
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WeLab Bank Granted License to Offer Digital Wealth Advisory Services
Virtual bank WeLab has been granted a license from the Hong Kong Securities and Futures Commission (HKSFC) to offer digital wealth advisory services. Having obtained the Type 1 (dealing in securities) and Type 4 (advising on securities) licenses, WeLab had
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Livi Bank Now Offers Instant Personal Loans up to HK$1 Million
Hong Kong’s virtual bank livi announced that it has launched its personal loan offering from HK$10,000 up to HK$1,000,000. The livi Flexi Loan is fully automated and available 24/7 where approvals reportedly takes about 2 minutes after which the funds
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LINE Bank Taiwan Clocks More Than 1 Million Users Within First Year of Launch
LINE Bank Taiwan announced that it has already exceeded 1.1 million customers in the first year of its operations. The neobank was among the three entities to receive a virtual banking license from Taiwan’s Financial Supervisory Commission in June 2019.
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ZA Tech Acquires a Stake in Indonesia’s Aladin Bank
ZA Tech, the technology venture founded by ZhongAn Online and backed by Softbank’s Vision Fund 1, has acquired a stake in Aladin Bank, an Indonesia-based Sharia digital bank. Further details of the agreement was not disclosed. The investment will strengthen
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Livi Bank Rolls Out Financing Products, Enables Account Opening for Mainland Visitors
Hong Kong’s virtual bank livi has unveiled new financing products that serve its customers’ financial needs both in their personal and business lives. The Franchise Financing Solutions offered by livi are tailored for individuals who enter into the SME sector in
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