If Hong Kong authorities want to encourage bank customers to go from bricks-and-mortar to virtual, it stands to reason that virtual banks should offer services not available at traditional banks. Photo: Shutterstock

For virtual banking to thrive in Hong Kong, regulators must encourage small players and innovation

  • The Hong Kong Monetary Authority should consider relaxing capital requirements for virtual banks, as the UK has done, and must set clear expectations for creative financial services
Topic |   Hong Kong Monetary Authority (HKMA)

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If Hong Kong authorities want to encourage bank customers to go from bricks-and-mortar to virtual, it stands to reason that virtual banks should offer services not available at traditional banks. Photo: Shutterstock
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