Standard Chartered Bank Announced Joint Venture to Build Virtual Bank

Standard Chartered Bank announced it was establishing a virtual bank with multiple strategic partners. PCCW, HKT Trust, HKT Limited and Ctrip Financial Management (NASDAQ:CTRP) along with Standard Chartered Bank will be launching a digital retail bank headquartered in Hong Kong.

As quoted in the press release:

Mary Huen said: “As the oldest note issuing bank in Hong Kong, Standard Chartered has been serving the community for 160 years. Today, we are delighted to be among the first to receive a virtual bank licence from the HKMA and we are excited to partner with PCCW, HKT and Ctrip Finance. The strengths of our partners combined with our own rich banking expertise mean that we are in a strong position to provide diverse financial solutions to redefine the banking experience for customers in Hong Kong.”

Susanna Hui added: “As a trusted service provider and innovator, the addition of banking services to our digital ecosystem highlights an essential part of our integrated platform for consumers and merchants, and is a natural extension of our product offerings and relationship with our customers. We look forward to working with Standard Chartered and Ctrip Finance to provide a seamless and secure digital platform for customers to manage their financial matters.”

Click here to read the full press release.