ZA’s Post

ZA Bank becomes hong Kong's first virtual bank to delcare monthly net profitability. This accomplishment underscores ZA Bank's robust growth and positions Hong Kong at the forefront of digital banking. Cementing its Position as Hong Kong’s Digital Banking Leader Since its inception in 2020, ZA Bank has solidified its reputation as Hong Kong’s first fully digital bank, redefining the financial landscape with its comprehensive suite of banking, insurance, and investment services. Building on this strong foundation, the bank has continued to expand its offerings, including fund and US stock trading capabilities, as well as tailored business banking solutions for local startups and SMEs. In a pioneering move last year, the bank also extended its services to Web3 enterprises, addressing a gap overlooked by traditional banks. This initiative further solidifies ZA Bank's position as an innovator in digital banking. Source: https://lnkd.in/gZqhkjhP #banking #bank #openbanking #bankingindustry #bankingtech #fintech #financialtechnology #financialservices

Toss Bank(토스뱅크) recognised for exceptional customer satisfaction and innovative deposit product    Toss Bank has been voted by consumers as the Most Recommended Retail Bank in South Korea, making it the sole digital bank to claim the top spot in the BankQuality™ consumer survey across 11 markets in Asia. Renowned for its convenience and no-fee transfers, Toss Bank appeals to people of all ages.     Toss Bank’s winning deposit product pays interest immediately upon subscription, leading to KRW 130 billion ($100 million) in committed funds within four days of its launch in March 2023.    Within six months, approximately 200,000 accounts were opened, and the deposit balance exceeded KRW 4 trillion ($3 billion), redefining customer expectations by providing instant gratification and flexibility in managing finances.    The TAB Global Excellence in Retail Finance Awards is one of the most established benchmarking programmes of its kind in retail finance, recognising exceptional innovation, leadership, management, and performance in the sector.     See the full list of winners here: https://bit.ly/43xWVgd    TAB Global Excellence in Retail Finance Awards 2024: https://bit.ly/49Ozz8n Jeewoong Kim JPMorgan Chase & Co., Qatar Islamic Bank (QIB), Nubank, Itaú Unibanco, China Construction Bank (Asia), CaixaBank, China Merchants Bank, First Bank of Nigeria Ltd., Ally, ING, Baiduri Bank Group, Bank of Beijing, Access Bank Plc, Hatton National Bank PLC, CTBC Bank, UnionBank of the Philippines, BIDV (Bank for Investment and Development of Vietnam), Industrial Bank of Korea, VietinBank, UnionDigital Bank, Trust Bank Singapore, TNEX, Hatton National Bank PLC, Trust Bank Singapore, Metrobank, UOB, OCBC, PT Bank Central Asia Tbk (BCA), Standard Chartered, ICICI Bank, KASIKORNBANK, Alipay+ Chris Kapfer, Foo Boon Ping 胡文彬 #tossbank #customersatisfaction #retailbank #bankquality #digitalbank #depositproduct #innovation #interest #funds #launch #flexibility #financialmanagement #excellenceinretailfinanceawards #southkorea #asia #theasianbanker #tabglobal

Tyme Group’s TymeBank has joined the “top 5 percent” club, becoming the world’s fastest profitable standalone digital bank, from zero to profits in just 4 years!" 📈😱😱 Did you know that the VAST majority of digital #banks globally - 95%! - are not profitable? The majority of #digital banks take far longer to become profitable, with notable examples including Brazilian-based Nubank (eight years) and UK-based Monzo (seven years).  As Singapore-based digital banking trailblazer Tyme Group celebrates its flagship South African operation joining the “top 5 percent” club, it’s also celebrating achieving SG $215 million annualised revenue in 2023 and 10.8 million customers globally 🏦💸 Tyme's success extends beyond South Africa to Asia where its Philippines 🇵🇭 operation GoTyme Bank has gained 2.3 million customers in just 14 months, surpassing even TymeBank in speed. Its next target country will be Vietnam 🇻🇳, solidifying its Asia presence 🌏 Co-Founder & Executive Chairman of Tyme, Coenraad (Coen) Jonker, says the team is on a mission to become one of the top three retail banks in every #market they enter, beginning with TymeBank in South Africa. "Our proven track record of rapid growth, consistent product #innovation and 'firsts', investor confidence and, now, profitability put us on track to achieve this audacious goal... "Tyme is proud to be part of solidifying Singapore's standing in the global financial landscape, as it cultivates a progressive and dynamic financial sector in line with the Monetary Authority of Singapore's (MAS) strategic vision." Curious about Tyme Group's strategies behind its record-breaking success in emerging markets? Read more 👇🏾 https://lnkd.in/gMv9VEYn —------------ Tap 'Connect,'🔗 hit follow 👍 + Repost 🔁 for more climate, tech, and finance updates! 🌐✨

Portal as mentioned below shall be very helpful to fight against scam. This is a great initiative by neighboring country and Nepal Government or concern authorities also should plan accordingly. 5. The National Fraud Portal (NFP) is set to launch in mid-2024 to fight financial scams, track stolen funds, and identify fraudsters. Instapay Technologies Sdn Bhd Instapay Technologies Sdn Bhd 1,533 followers 1,533 followers 1w •     1w • Follow 5 Key Takeaways from 2023 Annual Report of Bank Negara Malaysia Bank Negara Malaysia (BNM) issued its Annual Report 2023 with detailing the insights of important advancements and regulatory measures implemented within the financial sector over the past year. 1. BNM has strategically shifted its focus to the Financial Inclusion Framework 2023–26 aiming at achieving broader developmental outcomes for improving the financial well-being and living standards of Malaysians. 2. Three digital banks (GX Bank, Boost Bank, AEON Bank) have been launched in Malaysia, to provide services primarily aimed at underserved markets such as gig workers, SMEs, and lower-income groups. 3. E-payment transactions grew 20% in 2023 while cross-border payments showed a significant increase. BNM is also exploring technology to simplify compliance processes for cross-border transactions. 4. BNM continues to monitor digital assets' impact on financial stability and explores Central Bank Digital Currencies (CBDCs) to improve cross-border payments. 5. The National Fraud Portal (NFP) is set to launch in mid-2024 to fight financial scams, track stolen funds, and identify fraudsters. In conclusion, Bank Negara Malaysia (BNM) highlighted key achievements and further goals for improving financial inclusion, digital banking, and payment infrastructure in safety as well as capability advancements in its 2023 Annual Report. Source: https://lnkd.in/eCU9Nysy hashtag #FinancialInclusion hashtag #Epayment hashtag #CrossBorderPayments hashtag #DigitalPayments hashtag #FraudPrevention hashtag #MigrantWorkers hashtag #MoneyPayments hashtag #Instapay hashtag #InstapayTech hashtag #Fintech

Tyme Group’s TymeBank has joined the “top 5 percent” club, becoming the world’s fastest profitable standalone digital bank, from zero to profits in just 4 years!" 📈😱😱 Did you know that the VAST majority of digital #banks globally - 95%! - are not profitable? The majority of #digital banks take far longer to become profitable, with notable examples including Brazilian-based Nubank (eight years) and UK-based Monzo (seven years).  As Singapore-based digital banking trailblazer Tyme Group celebrates its flagship South African operation joining the “top 5 percent” club, it’s also celebrating achieving SG $215 million annualised revenue in 2023 and 10.8 million customers globally 🏦💸 Tyme's success extends beyond South Africa to Asia where its Philippines 🇵🇭 operation GoTyme Bank has gained 2.3 million customers in just 14 months, surpassing even TymeBank in speed. Its next target country will be Vietnam 🇻🇳, solidifying its Asia presence 🌏 Co-Founder & Executive Chairman of Tyme, Coenraad (Coen) Jonker, says the team is on a mission to become one of the top three retail banks in every #market they enter, beginning with TymeBank in South Africa. "Our proven track record of rapid growth, consistent product #innovation and 'firsts', investor confidence and, now, profitability put us on track to achieve this audacious goal... "Tyme is proud to be part of solidifying Singapore's standing in the global financial landscape, as it cultivates a progressive and dynamic financial sector in line with the Monetary Authority of Singapore's (MAS) strategic vision." Curious about Tyme Group's strategies behind its record-breaking success in emerging markets? Read more 👇🏾 https://lnkd.in/gVNzC46H —------------ Tap 'Connect,'🔗 hit follow 👍 + Repost 🔁 for more climate, tech, and finance updates! 🌐✨

#HongKong rules out more #virtualbanks, citing need for 'healthy development' of sector Key insights from Hong Kong Monetary Authority (HKMA) A good learning experience for Countries exploring #DigitalBanking #licensing ✅ the Review notes that the launch of #VBs in Hong Kong has contributed positively to the #banking sector’s #fintechadoption and #innovation. ✅ The ecosystem becomes more active with incumbent #retailbanks also accelerating their own #digitaltransformation. ✅ In terms of market acceptance, since the official launch of the eight VBs in 2020, they have seen growing acceptance, evidenced by a robust #growth in the number of #depositors, amount of customer deposits, as well as #loans and advances. As at the end of 2023, the VBs had a total number of 2.2 million depositors. ✅ In terms of #business and #financialperformance, VBs experienced delay in launching their business mainly due to the outbreak of COVID-19 pandemic in early 2020. As a result, it took VBs longer than expected to achieve their projected #growth and #profitability. ✅ In terms of general #banking products, all VBs remotely open accounts and offer a range of general personal banking services, such as #savings and time deposits, local fund transfers, #personalloans, #payment card services, and #foreignexchange. ✅ VBs are well-positioned for continued growth by leveraging their agility and customer-centric approach. With incumbent banks undergoing digital transformation, the rising tide of #digital #innovation across the banking sector will raise customer expectations and #financialinclusion overall. #Banking #Digitalbanking #Challengerbank #FinTech #Finserv #Regulation #RegTech #Centralbank #Digitalbank Mike Flache Francesco Burelli Tony Moroney Panagiotis Kriaris Dr. Martha Boeckenfeld Prof. Dr. Ingrid Vasiliu-Feltes Spiros Margaris Alex Jimenez Nicolas Babin Nicolas Pinto Amitav Bhattacharjee Sam Boboev Enrico Molinari Dr. Khulood Almani🇸🇦 د.خلود المانع Efi Pylarinou Damien CABADI Dr. Debashis Dutta https://lnkd.in/gHEfTNRg

5 Key Takeaways from 2023 Annual Report of Bank Negara Malaysia Bank Negara Malaysia (BNM) issued its Annual Report 2023 with detailing the insights of important advancements and regulatory measures implemented within the financial sector over the past year. 1. BNM has strategically shifted its focus to the Financial Inclusion Framework 2023–26 aiming at achieving broader developmental outcomes for improving the financial well-being and living standards of Malaysians. 2. Three digital banks (GX Bank, Boost Bank, AEON Bank) have been launched in Malaysia, to provide services primarily aimed at underserved markets such as gig workers, SMEs, and lower-income groups. 3. E-payment transactions grew 20% in 2023 while cross-border payments showed a significant increase. BNM is also exploring technology to simplify compliance processes for cross-border transactions. 4. BNM continues to monitor digital assets' impact on financial stability and explores Central Bank Digital Currencies (CBDCs) to improve cross-border payments. 5. The National Fraud Portal (NFP) is set to launch in mid-2024 to fight financial scams, track stolen funds, and identify fraudsters. In conclusion, Bank Negara Malaysia (BNM) highlighted key achievements and further goals for improving financial inclusion, digital banking, and payment infrastructure in safety as well as capability advancements in its 2023 Annual Report. Source: https://lnkd.in/eCU9Nysy #FinancialInclusion #Epayment #CrossBorderPayments #DigitalPayments #FraudPrevention #MigrantWorkers #MoneyPayments #Instapay #InstapayTech #Fintech

Portal as mentioned below shall be very helpful to fight against scam. This is a great initiative by neighboring country and Nepal Government or concern authorities also should plan accordingly. 5. The National Fraud Portal (NFP) is set to launch in mid-2024 to fight financial scams, track stolen funds, and identify fraudsters. Instapay Technologies Sdn Bhd Instapay Technologies Sdn Bhd 1,533 followers 1,533 followers 1w •     1w • Follow 5 Key Takeaways from 2023 Annual Report of Bank Negara Malaysia Bank Negara Malaysia (BNM) issued its Annual Report 2023 with detailing the insights of important advancements and regulatory measures implemented within the financial sector over the past year. 1. BNM has strategically shifted its focus to the Financial Inclusion Framework 2023–26 aiming at achieving broader developmental outcomes for improving the financial well-being and living standards of Malaysians. 2. Three digital banks (GX Bank, Boost Bank, AEON Bank) have been launched in Malaysia, to provide services primarily aimed at underserved markets such as gig workers, SMEs, and lower-income groups. 3. E-payment transactions grew 20% in 2023 while cross-border payments showed a significant increase. BNM is also exploring technology to simplify compliance processes for cross-border transactions. 4. BNM continues to monitor digital assets' impact on financial stability and explores Central Bank Digital Currencies (CBDCs) to improve cross-border payments. 5. The National Fraud Portal (NFP) is set to launch in mid-2024 to fight financial scams, track stolen funds, and identify fraudsters. In conclusion, Bank Negara Malaysia (BNM) highlighted key achievements and further goals for improving financial inclusion, digital banking, and payment infrastructure in safety as well as capability advancements in its 2023 Annual Report. Source: https://lnkd.in/eCU9Nysy hashtag #FinancialInclusion hashtag #Epayment hashtag #CrossBorderPayments hashtag #DigitalPayments hashtag #FraudPrevention hashtag #MigrantWorkers hashtag #MoneyPayments hashtag #Instapay hashtag #InstapayTech hashtag #Fintech

New bank from #SoutheastAsia demonstrate the ease of use how simple banking can be in the future

Just a week left to submit your solutions and collaborate with Australia’s largest banks! If you missed Westpac’s and Citi’s pitch at Intersekt 2024, rewatch it and learn more about this opportunity here ➡️ https://lnkd.in/gqjyQ_KQ In this second edition, the banks are seeking ✅ Solution to help SMEs to develop credible plans for growth and simple access financing. ✅ Solution that will act as an integrator for satisfying China, India, Indonesia and Vietnam’s additional electronic signature requirements, with the potential to expand across regulated markets outside of APAC. Think you have the perfect solution? Submit it by Friday, 18 October 2024!