ZA Bank receives Type 1 SFC licence

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Hong Kong’s No.1 virtual bank ZA Bank has expanded its footprint into investment business as the first local digital-only bank to be licensed by the Securities and Futures Commission (SFC) for Type 1 regulated activity (dealing in securities).

ZA Bank will offer users simple and convenient investment services, with an initial focus on creating a different fund investment experience with an array of products in the pipeline. Users can then embark on a one-stop, holistic investment journey in the ZA Bank App anytime, anywhere. ZA Bank is currently one of the local virtual banks with the most comprehensive product suite to address users’ integrated financial needs, through its 24/7 services covering deposit, loan, transfer, payment, and insurance.

Rockson Hsu, CEO of ZA Bank, said: “The obsession with user experience shows our determination to be the ‘Game Changer’ in the banking industry. Within just 2 years since our full launch, our dedication to innovative banking services has earned us the trust and support of more than 500,000 users[2]. We look forward to further enhancing users’ experience with our game-changing investment fund services!”

ZA Bank will officially launch its investment fund service in due course.

Source: https://www.finextra.com/pressarticle/91115/za-bank-receives-type-1-sfc-licence?utm_medium=rssfinextra&utm_source=finextrafeed

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