Hong Kong Kicks Off Virtual Banking as ZA Launches Pilot Program
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ZA Bank Ltd. began a pilot for Hong Kong’s first virtual bank, kicking off a shake-up that may collar as much as 30% of banking revenue in the city.
The wholly owned unit of ZhongAn Technologies International Group Ltd. is targeting about 2,000 retail users initially to gather feedback before an official start, according to an emailed statement Wednesday.