OneConnect virtual bank announces trial operation in Hong Kong

A virtual bank under Ping An (02318.HK), announced on June 24 that it will officially start trial operations in Hong Kong.
So far, two virtual banks in Hong Kong have officially opened, and four are in the trial operation stage.

A virtual bank under Ping An (02318.HK), announced on June 24 that it will officially start trial operations in Hong Kong.

So far, two virtual banks in Hong Kong have officially opened, and four are in the trial operation stage.

Ping An’s virtual bank belongs to OneConnect, and is called Ping An OneConnect Bank, or PAObank.

On May 9, 2019, OneConnect was awarded a virtual banking license by the Hong Kong Monetary Authority and became the last applicant in the first batch of eight licenses.

PAObank will provide retail and wholesale banking services to serve individual and SME customers.

The bank plans to invite 200 small and medium-sized enterprises and 2,000 individual customers to participate in the trial operation and experience services such as account opening, deposit, transfer and loan.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/24/oneconnect-virtual-bank-announces-trial-operation-in-hong-kong/.

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