As of November 14, nearly nine months have passed, approaching the expected opening time. The reporter of Securities Daily interviewed and explored eight enterprises that have obtained virtual banking license in Hong Kong, China.
According to a reporter from Securities Daily, among them, welab virtual bank is expected to develop its business early next year, and Ping An yizhangtong said it is advancing its business step by step; Tencents Furong bank, although it does not have a physical branch, is expected to set up a customer service and experience center. At the same time, Securities Daily reporter found that the future business focus on small and medium-sized enterprises and individual users.
Welab virtual bank
It is expected to open at the beginning of next year
From March 27 to May 9, the Hong Kong Monetary Authority of China (hereinafter referred to as the HKMA) successively issued eight virtual banking licenses. Among them, livivlimited, scdigital Solutions Limited and Zhongan onlines Zhongan virtual Finance Co., Ltd., welab Digital Limited, ant business services (Hong Kong) Co., Ltd., Yifeng Co., Ltd., insight Financial Technology Co., Ltd. and ping an one account Co., Ltd.
In fact, the reporter of Securities Daily noted that the eight enterprises that have obtained virtual banking license have obvious financial technology attributes from the perspective of shareholder background, among which Tencent, Alibaba (ant financial), Xiaomi group, Jingdong digital technology, Ctrip finance, Pingan yizhangtong, etc. have all entered the Bureau.
Livivlimited is a joint venture established by BOC Hong Kong, JD technology and Jardine group; scdigitalsolutions Limited is a joint venture established by Standard Chartered Bank, PCCW, Ctrip finance and Hong Kong Telecom; Zhongan virtual Finance Co., Ltd. is a subsidiary of Zhongan online; welab Digital Limited is a wholly-owned subsidiary of welab Holdings (our parent company); ant business servicesuff08 Hong Kong) Co., Ltd. is backed by ant financial, Yifeng Co., Ltd. (now renamed: Furong bank) is a joint venture composed of Tencent Holding Co., Ltd., industrial and Commercial Bank of China (Asia) Co., Ltd., Hong Kong trading and clearing house Co., Ltd.; insight Financial Technology Co., Ltd. is a joint venture established by Xiaomi group and Chengcheng group, and Ping An Group is behind ping an one account.
Virtual bank refers to the bank that provides retail banking services mainly through the Internet or other forms of electronic channels rather than physical branches. Under the business plan of the licensed bank, its services are expected to be officially launched within 6 to 9 months. How are these organizations doing?
The head of welab virtual bank also told the Securities Daily, welab is actively preparing to build a virtual bank, and is committed to preparing for system development, process design and user experience, etc. all works are progressing smoothly, and the function test continues to be carried out, so as to strive for opening at the beginning of next year.
At present, the virtual banking business in Hong Kong is in progress step by step, the relevant person in charge of Ping An yizhangtong told the Securities Daily
Our first task is to build a safe, reliable and reliable bank, and we are working hard to prepare for it. The goal is to launch services at the beginning of next year, Ctrip financials head told Securities Daily
As early as July, Tencent, industrial and Commercial Bank of China (Asia) Co., Ltd., Hong Kong exchange and clearing house Co., Ltd., Hillhouse capital and Mr. Zheng Zhigang, a famous businessman in Hong Kong, China (through his investment subject perfectridge Limited), jointly established Yifeng Co., Ltd. to officially change its name to Furong Bank Co., Ltd.
Tencent told the Securities Daily that the renaming of Furong means integrating the whole world and benefiting people, integrating different things into one, so as to generate huge energy and combine the strength of all shareholders to drive the development of financial technology. Since the issuance of the Hong Kong virtual banking license by the HKMA, Furong bank has been making intensive preparations for system development, process design and user experience, all of which have made good progress.
In an interview with Securities Daily, a spokesperson of Furong bank stressed that although Furong bank does not have a physical branch, it will have a customer service and experience center to ensure the provision of high-quality customer experience, and the relevant experience center is under construction.
In addition, according to the Securities Daily, the Hong Kong Virtual Bank jointly established by Xiaomi group and Shangcheng group is called Tianxing bank.
Xiaomi financial related person in charge told Securities Daily that Tianxing bank is currently in the active preparation stage, and relevant teams, product research and development and other preparatory work are being carried out in an orderly manner.
According to Jingdong Digital Technology Co., Ltd. to the Securities Daily, livivlimited is jointly invested and established by Bank of China Hong Kong (holding), Jingdong Digital Technology Co., Ltd. and Jardine group, with a total investment of HK $2.5 billion, accounting for 44%, 36% and 20% of the three shareholders respectively. However, they did not share more about their current business development.
It can be seen that most of the enterprises that have obtained the virtual banking license are actively preparing for the exhibition.
Huang Dazhi, a senior researcher at Suning Financial Research Institute, told Securities Daily, the opening time of 6-9 months is not an explicit regulation, so it is possible to delay the development of the industry. At the same time, even if it is ready, it should also be put into trial operation in the regulatory sandbox, and the result is also uncertain. Therefore, it is very possible for some virtual banks to delay their business development.
Former CEO of Sun Hung Kai Finance
CEO of welab virtual bank
According to an in-depth investigation by the reporter of Securities Daily, the establishment of senior management teams related to virtual banks has also been basically completed.
According to the reporter of Securities Daily, welab virtual bank has set up a new senior management team, which is specially responsible for the development and operation of virtual bank. Professor Chen Jiaqiang is the chairman of the board of directors and Dr. Liang Yongxiang is the executive director and chief executive officer of welab virtual bank. Long Peizhi, the founder and CEO of welab, serves as the non-executive director of welab virtual bank.
Among them, the reporter noted that Chen Jiaqiang, chairman of the board of directors of the welab virtual bank, was the Secretary for finance and the Treasury of Hong Kong and the dean of the school of Business Administration of the Hong Kong University of science and technology. Liang Yongxiang, the director and chief executive, was the CEO of Sun Hung Kai finance and the executive director of the board of directors of Hang Seng Bank.
We aim to recruit more than 100 to 200 people, 80 to 90 percent of whom are currently employed, and we will consider expanding the scale of our employees in the future according to the business development situation, the head of welab virtual bank told Securities Daily
In addition, Tencent announced two appointments in June. One of them is that Lai Zhiming, as the vice president of the company, serves as the chairman of Furong bank, a Hong Kong virtual bank launched by Tencent investment.
According to a reporter from Tencent, it was Lai Zhiming who led Furong bank to successfully apply for the virtual banking license issued by the Hong Kong Monetary Authority in May this year. In June 2019, Lai Zhiming, as the vice president of Tencent group, became the chairman of Furong bank. As a key part of Tencents layout in Hong Kong, Lai Zhiming is obviously also responsible for Exploring Innovation and reform.
Tencent Fulong bank didnt disclose the specific list of other senior management teams, but its spokesman told Securities Daily, with the unique expertise, experience and insights of each shareholder, Fulong bank provides a stable and solid technical foundation for Fulongs services.
In addition, Ctrip finance, Securities Daily reporter learned that it currently has more than 150 full-time employees, while the main position of virtual bank has been in place.
Individual users and SMEs
According to the reporter of Securities Daily, in terms of the specific business of virtual banking industry, from the information that has been learned, each positioning has focused on helping small and medium-sized enterprises with financial services and individual users. The core driving force is the application of artificial intelligence, big data, blockchain and other related technologies.
The head of welab virtual bank confided to the Securities Daily that in the future, it will take three I - instant, interactive and intelligent as the core concepts, and make use of the leading financial technology such as artificial intelligence, big data and machine learning, which are independently developed, to bring users innovative banking service experience anytime, anywhere.
It is reported that the details of three I core concepts are: instant - financial experience on the whole line, simple mobile phone operation can meet customer needs, and the audit process can also be completed efficiently in a short time - this is what our existing business can do; intelligent - through artificial intelligence, data analysis to deeply understand and predict customer needs, In order to recommend or provide the products and services they really need; interactive - in addition to human communication, use chat robots, robot consultants and other technological means to communicate meaningfully with customers.
A spokesman for Furong bank told Securities Daily that with the unique expertise, experience and insights of its shareholders, Furong bank provides a solid technical foundation for Furongs services. Through the innovative application of advanced technology and financial technology, we will focus on bringing new, efficient and secure virtual banking service experience to users and enterprises, and help Hong Kong consolidate its position as an international financial center.
Hong Feng, co-founder and senior vice president of Xiaomi and chairman and CEO of Xiaomi finance, once said publicly, our virtual bank will be designed to let everyone enjoy the fun of financial technology. Based on their own advantages, virtual banks radiate to more individual retail users and provide them with high-quality user experience financial services through scientific and technological means. At the same time, they are committed to solving the core problems such as financing difficulties and expensive financing encountered in the development of small and medium-sized enterprises to help them develop better and faster.
Ping an one account bank also said it expects to provide more convenient and professional financial services for Hong Kong citizens and SMEs through leading technologies such as artificial intelligence and blockchain. We will make full use of the advantages of instant, convenient and innovative Internet to bring convenient financial services to Hong Kong citizens and small and medium-sized enterprises in China, said Feng Yulong, chief executive of Ping an one account bank
In the future, we will adopt top-notch technology such as artificial intelligence, block chain, big data and intelligent risk control modeling, and provide flexible solutions for customers daily life scenarios such as clothing, food, housing, transportation, shopping and entertainment, so as to provide services for consumers daily life and small and medium-sized enterprises business operation.
The person in charge of Ctrip finance told Securities Daily that all the services and products that are being established are based on careful and in-depth investigation, and an in-depth analysis of the unmet customer needs and difficulties encountered by customers in reality. Specific service and product details will be shared when the product is launched. At the same time, he said, virtual banking is an important strategic deployment for Ctrip finance to improve its overseas service capability.
Huang Dazhi, a senior researcher at Suning Financial Research Institute, believes that the virtual banking license in Hong Kong, China has become a new starting point for the development of overseas financial business of Internet giants and a new springboard for internationalization. Mainly the process of internationalization and the influence of international brands will be greatly improved. For the Internet giants, it is of strategic significance to use the virtual banking license to expand the service customer base and improve the ability and level of cross-border services.
Source: responsible editor of Securities Daily: Yang qian_nf4425