Clients with less than US$1 million in savings, underserved by bricks-and-mortar banks, are the sweet spot for virtual lenders

• Some of the city’s eight newly minted virtual banks see depositors with less than US$1 million in deposits as being neglected and underserved by bricks-and-mortar banks
• Airstar bank, the virtual bank being developed by AMTD Group and smartphone giant Xiaomi, says it can service money lenders’ clients with cheaper loan