All posts tagged "Virtual Banks"
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839FeatureHKMA Chief of Ten Years Set to Retire in September
Norman Chan will leave behind a healthy banking industry with strong capital ratios and low bad debt levels. A selection panel will identify the HKMA's next chief.
February 22, 2019 -
957FeatureHKMA to Grant Virtual Banking Licences in Q1 2019
The HKMA has provided an update on the processing of virtual banking applications, saying it will shortlist one-third of remaining applicants with an aim to granting licences in Q1 2019.
December 10, 2018 -
1.9KAML / KYC
HKMA Outlines Regtech Initiatives – Speech
The HKMA is looking to build a more diversified regtech ecosystem in Hong Kong and urges for greater collaboration between the banking industry and technology community.
September 28, 2018 -
3.6KAsia-PacificThe Use of Regulatory Sandboxes in Europe and Asia
Asia presents a unique mix of technological advancements and interconnected economic and regulatory systems, which makes it the perfect environment for rapid business growth for fintech/regtech companies with ambitious goals.
September 6, 2018 -
1.7KFintech / RegtechHKMA Receives 29 Bids for First Round of Virtual Bank Licences
Standard Chartered, WeLab, Zhong An Bank and HKT among several banking, technology and telecom firms applying for virtual banking licenses.
September 3, 2018 -
1.8KContributed Article
Virtual Banks in Hong Kong: Bringing Risks and Opportunities To Asia
A new era of smart banking in Hong Kong is anticipated to begin at the end of this year with the establishment of virtual banks. Competent players will embrace enormous opportunities to challenge the city's traditional banking model.
August 21, 2018 -
478Capital RegulationS. Korea’s FSC Vows to Support Growth of Fintech Sector
Discussions are underway concerning a revision of South Korea’s Banking Act to nurture growth within the fintech industry, including a proposal to allow non-financial firms to hold up to 50% stakes in banks, including internet-only banks.
July 26, 2018 -
987Fintech / Regtech
HK Virtual Bank Licence Offers Nothing New for Local Market
The HKMA and its new regulations fail to recognise that virtual banking has long existed. Redundant and irrelevant rules only hold back fintech development in Hong Kong.
June 21, 2018 -
768Featured Articles
HKMA Finalises Virtual Bank Rules, Applications Now Open
Regulator publishes final guidelines but no change in capital requirements; companies seeking inclusion in first batch of virtual bank applications can apply by 31 August.
June 1, 2018 -
413FeatureHong Kong Work Plan Includes Incentives for Fund Industry
Government reviewing and enhancing existing tax concession arrangements for fund industry; HKMA to launch real-time payments, issue virtual bank licences this year.
April 20, 2018
