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Trust Bank Selects Thought Machine to Power the First of Singapore's New Wave of Digital Banks

Trust Bank Selects Thought Machine to Power the First of Singapore's New Wave of Digital Banks
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Interest-Free Early Payday Option Introduced by Hong Kong's Digital Banking Platform ZA Bank

Interest-free early payday option has been introduced by Hong Kong-based digital banking platform ZA Bank. ....

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CX Daily: Embattled Huarong to Sell Multibillion-Dollar Assets as Rescue Plan Gets Underway

CX Daily: Embattled Huarong to Sell Multibillion-Dollar Assets as Rescue Plan Gets Underway ....

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Chart of the Day: Hong Kong's New Virtual Banks Bled Cash Last Year

Chart of the Day: Hong Kong's New Virtual Banks Bled Cash Last Year
caixinglobal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from caixinglobal.com Daily Mail and Mail on Sunday newspapers.

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Digital Banking: Hong Kong's ZA Bank and Mox Account for Around 70% of Region's Virtual Banking Customer Deposits

ZA Bank and
Mox are reportedly leading Hong Kong’s digital bank market, accounting for around 70% of all virtual banking customer deposits (as of the end of last year). This, according to a report from Reuters that referenced annual reports from banks in the city.
Hong Kong’s eight virtual banks had managed to accumulate total customer deposits of HKD 15.8 billion (appr. $2.03 billion) by the end of 2020. ZA Bank, which is run by a division of online-only insurance company
ZhongAn, reported deposits of HKD 6.04 billion (appr. $780 million).
This figure represents a 39% market share, meanwhile, Standard Chartered-backed
Mox Bank received a total of HKD 5.2 billion (appr. $670 million) in deposits, which is about 33% of the total market. ....

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