The Road to Smart Banking: Virtual Banks in Hong Kong – Module 1: Why It Matters

Module 1: Why It Matters

Key takeaways:
– Virtual banks are present overseas and have gained popularity fast
– Virtual banks’ profitability is posing questions on their long-term sustainability
– Hong Kong Monetary Authority granted 8 new virtual banking licenses and the digital-only banks were expected to commence operations in 2020
– Whether virtual banks would be a disruption or a just mere distraction in Hong Kong is still unknown
– We will introduce key insights of virtual banks over this course based on overseas observations and interviews with experts in Hong Kong

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