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Hong Kong’s first digital bank offers 6% rate that dwarfs HSBC’

The first of Hong Kong’s new generation of digital banks has announced its arrival with a 6% introductory rate for deposits. ZA Bank Ltd., one of eight firms preparing to start digital-only banks in Hong Kong, has begun a trial run that pays a select group of depositors...

January 13, 2020 Loknath Das Banking No Comment

Analysis : Hong Kong’s digital banking push pits tech newcomers against old-guard lenders

At least a dozen banks, fintechs and telecom firms are lining up to get a piece of Hong Kong’s retail and small business banking market as the regulator prepares to award the former British colony’s first online-only banking licences. Bidders hoping to challenge the dominance of HSBC and...