Since 2018, the Hong Kong Monetary Authority has granted licences to eight virtual banks to support Hong Kong’s entry into the smart banking era. Launched in 2020, Ant Bank (Hong Kong) is a Hong Kong-based institution embracing leading financial technologies in blockchain, artificial intelligence, security, logistics and cloud computing.
“With continuous financial technology innovation, we aim to provide reliable, transparent and inclusive banking services to individuals and small and medium enterprises (SMEs) in Hong Kong,” said Chief Executive Yvonne Leung.
To stay competitive with other virtual banks and traditional banks that provide digital financial services, the company differentiates itself by adopting a customer-oriented approach. “As a virtual bank, we strive to provide customers with a safe and convenient banking experience. Even without a physical branch, customers can enjoy a suite of 24/7 banking services, as well as strict banking accounts protection,” Leung said.
“We also walk in our customers’ shoes, and pay serious attention to their pain points and experience,” she added. For instance, it has always been difficult for certain groups of people, such as freelancers and students, to apply for credit cards. The launch of “Ant Bank PayLater” provides customers with a new option of consumption experience – users can enjoy the “Buy Now Pay Later” service without using a traditional credit card. “Customers can enjoy shopping with most of the local online merchants by choosing to pay in interest-free installments,” said Leung.
SMEs have long encountered difficulties in opening bank accounts in Hong Kong. In order to support enterprises to overcome financial challenges, the bank launched specific business account and loan services for SMEs. “By extending our services to those in need, we hope to enable them to get equal access to inclusive and sustainable financial services through technologies,” Leung explained.
Looking ahead, the company will continue to innovate and provide mature fintech products and services to the Hong Kong market, offering a new choice to local citizens. “We hope that people will be more confident in the services provided by virtual banks,” Leung said.
Apart from continuous innovation and development in fintech, the bank also wants to build relationships with other business sectors in Hong Kong, in an effort to learn from each other. “By joining HKGCC, we hope to have the opportunities to work with other members to contribute to the business community together,” said Leung.
Company : Ant Bank (Hong Kong) Ltd
HKGCC Membership No. : HKA0967
Established : 2020
Website : www.antbank.hk