Virtual Banking in Hong Kong continues to grow. Unlike in many other markets where digital banks are usually startups and new entrants, in Hong Kong it’s more of a game for the incumbents. The current leaders in Hong Kong’s virtual banking sector consist of eight licensed banks, including ZA Bank, Mox Bank, WeLab, Airstar, Livi, PAOB, Ant Bank, and Fusion.
Read MoreIn 2019, the Hong Kong Monetary Authority licensed eight virtual banks. These eight firms are: ZA Bank, Mox Bank, WeLab, Airstar, Livi, PAOB, Ant Bank and Fusion. Amongst the eight virtual banks in Hong Kong, this represents an average annual revenue opportunity of HKD 9.5 billion (US$1.2 billion), and equates to an average revenue market of about 2.4% per virtual bank.
Read MoreDigital payments in India are growing at a scorching pace. According to the Economist Intelligence Unit, when it comes to digital payments, India has outpaced the rest of the world, registering the highest number of real-time payment transactions. CLSA Research forecasts the digital payment market in India to grow three-fold to touch US$1 trillion by […]
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