The virtual bank initiative was developed by the HKMA to promote financial innovation, facilitate financial inclusion and enhance customer experience. In simple English, we're born from an initiative to make banking better for you and the other 7.5 million people of Hong Kong.

One key difference is that we are built specifically for the digital world of the 21st century. We are literally built from bottom up to live and serve from your mobile phone. We are free of compromises that come from trying to create another channel to deliver a business that was built for the brick and mortar world. That means 99.99% of everything that you need to do, can be done remotely at your leisure from your phone.

Most importantly, we are regulated by the HKMA based on the same yardstick as any other licensed bank in Hong Kong. Your eligible deposits here are protected by the Deposit Protection Scheme for up to HKD 500,000 just like any other participating bank in Hong Kong.

A virtual bank we are, with some very real world benefits for you.

What is WeLab Bank