Asia Banking Research

Feb

Hong Kong’s virtual banks have their work cut out for them

Two years ago, Hong Kong made fintech history in Asia as the region’s first major economy to greenlight digital banks. As of the end of 2020, all eight of the banks were finally live. Political and covid-related disruptions had delayed their launch. Judging by the digibanks’ marketing literature, they are…

Feb

Asia Banking Research

Why did NAB buy out 86 400?

Barely a month after Xinja’s abrupt demise, another Australian neobank is exiting the market. This time though, the said bank is being bought out, not folding like an accordion. It would seem that National Australia Bank (NAB) made 86 400 an offer the neobank could not refuse to the tune…

Jan

Asia Banking Research

Rakuten launches Taiwan’s first virtual bank

Taiwan finally has an operational digital bank. Rakuten International Commercial Bank (RICB), backed by the Japanese e-commerce giant, recently became the first of three digibanks approved by Taiwan’s Financial Supervisory Commission (FSC) to go live. RICB will initially offer deposits, fund transfer, small loan and debit card services and later…

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