Virtual Banking
Hong Kong’s Digital Banks Will Operate at a Loss for at Least the Next 2 Years
Despite advantages including cheaper operational costs and backing from tech firms with deep pockets, Hong Kong’s digital banks will face hurdles in turning a profit. These eight newcomers will have to operate at a loss for at least the next
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ZA Bank Rolls Out Interest-Free Payday Loans for Beta Users
Hong Kong’s virtual bank ZA Bank announced the launch of “Salary FastPass”, an interest-free early payday product in Asia that allows users to get their monthly payroll up to 7 days in advance. ZA Bank said that the Salary FastPass seeks
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Airstar Bank Expands Its Banking Services for SMEs With Loan Offering
Xiaomi and AMTD’s virtual bank Airstar has launched another stage of its pilot trial which features the SME Easy Pay Loan offering to bring a faster and more convenient loan experience to small and medium enterprises (SMEs) This comes on
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Mox Bank Takes a Slice of the BNPL Pie With Its Latest Offering ‘Split’
Virtual bank Mox has launched a new Buy Now, Pay Later (BNPL) feature on Mox Credit called ‘Split purchase’. Mox Credit customers can split eligible transactions of HKD400 or more into equal monthly instalments, ranging from 3 to 36 months.
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ZA Makes Moves in Digital Asset Market by Signing Deal With Crypto Firm BC Group
ZA International announced that it has entered into a mutual collaboration agreement with BC Technology Group, the parent company of OSL Digital Securities which is a Securities and Futures Commission (SFC)-licensed digital asset platform. The collaboration will see OSL become
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Xiaomi’s Co Founder Steps Down as Chairman at Airstar Bank
Hong Hong virtual bank Airstar Bank announced the appointment of Xiaomi’s Chief Financial Officer Alain Lam Sai Wai as its new Chairman of the Board of Directors. The previous chairman Lei Jun, the Chinese billionaire entrepreneur who founded Xiaomi, has
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Mox Card Now Allows Users to Flip Between Debit and Credit Spending
Hong Kong virtual bank Mox and Mastercard announced a smart new feature called “Flip” on the all-in-one numberless Mox Card which enables customers to flip freely between spending on their debit and credit accounts. The virtual bank had previously rolled
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Mox Appoints Former StanChart Exec as Chief Product Officer
One of Hong Kong’s eight virtual banks Mox announced the appointment of Jayant Bhatia as its new Chief Product Officer effective on 1st July 2021 onwards. As Mox’s Chief Product Officer, Jayant will lead and develop the product strategy and
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WeLab Bank Now Supports Apple Pay for Safe and Secure Transactions
WeLab Bank, a homegrown virtual bank authorised by the Hong Kong Monetary Authority, has integrated the use of Apple Pay into its platform. Apple Pay is a safe, secure and private way to pay that helps customers avoid handing their
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Banking Consumers Want Financial Empowerment, Not Just Apps
Consumers don’t just want shiny apps and digital banking, they want to feel that their bank is a partner who can help them reach financial empowerment. That is the finding of a new ethnographic study by Finastra, which has gone
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