ZA Bank
ZA Bank is the first fully operational virtual bank in Hong Kong. An integrated financial brand, it was established by the fintech and insurtech focused ZhongAn Technologies International Group Limited
(“ZA International”) in 2019.
ZA Bank takes an innovative, community-driven approach to product development and design, inviting users to guide the evolution of the bank’s products and services. In addition to personal and business banking services, it offers investment and insurance products.
Situation
ZA Bank’s customer base has grown to more than 600,000 customers in just two years. This rapid take up was matched by dramatic increases in deposit size, and meant it required a more technologically advanced treasury management system to efficiently manage its fast-growing treasury book, ensure data integrity and fulfil regulatory requirements.
ZA Bank offers personal and business banking, along with insurance and investment products and services.
Winner of multiple innovation and tech awards, it’s high on innovation, customer service and stakeholder engagement, with a user-driven product development model.
Hong Kong’s first fully operational virtual bank, and the first virtual bank globally to adopt Bloomberg Trade Order Management (TOMS) solution for treasury management.
Problem
With the rapid increase in the size of its treasury portfolio, ZA Bank observed that the manual workflow of managing its fixed income and foreign exchange transactions was becoming unwieldly and threatening to hinder further expansion. To overcome this, ZA Bank sought a more efficient, sophisticated, and scalable solution. Finding a product that could firstly optimize multi-asset coverage with workflows for treasury management and secondly, improve operational efficiency with enhanced data integrity and automated system feeds was crucial to ZA Bank.
Since launching its services to the public in March 2020, ZA Bank has captured market attention and experienced rapid take up and growth.
By 2022 it had more than 600,000 customers and is anticipating exponential growth over the next few years.
Solution
ZA Bank has achieved better control of its daily practices and made significant efficiency gains by implementing Bloomberg TOMS and its best-in-class market data. TOMS is enabling ZA Bank to address its current investment needs and prepare for continued growth and scalability, while its seamless integration with Bloomberg Terminal Solutions for pre-trade analysis, research, and market moving news is greatly enhancing ZA Bank’s decision-making process and front-to-back workflow. Importantly, the bank can now comfortably meet the regulatory requirements of the HKMA.
Bloomberg TOMS enables sell-side firms to manage inventory, risk, P&L, compliance, and straight-through processing across various asset classes.
Includes market connectivity and trading tools to support a firm’s electronic trading workflows.
Synchronizes front office risk and trading with middle office,
operations, and enterprise applications in real-time.
“
Bloomberg’s TOMS, which is already used by many leading financial institutions globally, provides the Bank’s treasury and investment needs while giving us an option to expand our offering to other asset classes. This is invaluable for a start-up like us looking for the next growth opportunity.
Rockson Hsu, CEO, ZA Bank
Benefits
Comfortably meet the regulatory requirements of the HKMA
Greatly enhanced decision-making process and front-to-back workflow
Prepare for continued growth and scalability