Virtual Banking in Hong Kong

With technology becoming undeniably imperative in modern society, it is important for businesses to integrate it into their daily operations to become more competitive, and the banking industry is no exception.

One of the ways in which we see banking industries across the world adopting modern technology is via the launch of virtual banks. A virtual bank is defined as a bank which delivers retail banking services primarily through the internet or other digital channels instead of physical branches.

As such, the main difference between virtual and traditional banks is that virtual banks do not have physical brick-and-mortar branches.

Hong Kong has signalled a green light for virtual banking as they are looking to transform their incumbent banking landscape to one that provides user-friendly and customer-centric banking services.

Click above to read more and understand what type of companies are applying, why they are applying and the steps they need to take in building a virtual bank.