Ant Group Debuts Virtual Bank In Hong Kong Weeks After Filing IPO


Source: pymnts.com pymnts.com

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Print Ant Bank, the virtual banking division of Hangzhou, China-based Ant Group , has launched banking services in Hong Kong, Fintech News reported. The Hong Kong Monetary Authority (HKMA) approved Ant Bank’s application for a virtual banking license. It was one of eight such recipients, the report stated. Now, users can download the bank’s mobile app to establish personal bank accounts in as little as three minutes, according to the report. Ant Bank will partner with AlipayHK to allow users to integrate banking services, Fintech News reported. More than 2 million AlipayHK customers will be able to open an Ant...