ZA Bank, Hong Kong’s first virtual bank has officially opened. As the first virtual bank opened in Hong Kong, ZA Bank does not provide any operations with physical branches where all banking services will be conducted online.
HSG is honored to become the designated service provider upon the issuance of ZA Bank’s virtual banking license. HSG is sincerely grateful for the confidence and trust from ZA Bank! As a banking service provider with the largest market share of Chinese-funded banks in Hong Kong, HSG will definitely leverage on its extensive experience in the industry to build a virtual banking system that adapts to the development of the times with customers.
ZhongAn is China’s first internet insurance company founded and jointly-invested by Alibaba, Tencent and Ping An. The winning of the ZhongAn International’s Virtual Bank tender represented HSG’s full cooperation with Internet upstarts. HSG has empowered Internet companies to quickly enter the Hong Kong and Macau banking business with mature and multi-disciplinary core system products for Hong Kong and Macau banks. At the same time, ZA Bank has also injected Internet genes into HSG’s core system products and established a joint force to achieve win-win cooperation.
The Hi Sun Banking Suite (HBS), the core banking system of HSG, has been developed to its 6th generation, and the customer base has extended from large domestic commercial banks to banks in Hong Kong, Macau and overseas regions. HSG owns the whole and sole independent intellectual property rights to HBS that are not restricted by any third parties. HBS adopts the SOA architecture design, with the characteristics of multi-legal person, multi-language and 24/7 consistent service with other major features as followed:
- The product supports parameterized customization, which can flexibly and quickly launch new products that adapt to market changes.
- Complete customer information and materials, under the premise of meeting the regulatory requirements of Hong Kong and Macau to provide an extensive supporting dimension for customer analysis.
- Currency is the main unit of measurement on the general ledger, which accurately and truly reflects the bank’s financial status, operating results and cash flow. Supervisions on bank’s operating activities, financial income and expenditure are conducted with greater efficiency.
- Pricing models that fully adapts to market demand in Hong Kong, Macau and overseas regions which can flexibly formulate pricing strategies based on business development.
- The mature payment system connects with mainstream payment channels in Hong Kong and Macau, such as RTGS/SWIFT and the latest Faster Payment System (FPS).
HSG’s products and services comprehensively cover different levels, scales and types of financial customer groups including state-owned commercial banks, foreign banks, policy banks, joint-venture commercial banks, city commercial banks, agricultural credit cooperatives, agricultural banks and other non-bank financial services mechanism. Cases of successful implementations are all over the world including Asia (Mainland, Hong Kong and Macau, Singapore, Tokyo, Seoul, Ho Chi Minh City), US (New York, San Francisco), Europe (Frankfurt, Luxembourg), Oceania (Sydney). The appointment as service provider by ZA Bank has been an affirmation of our years of reputation in the industry.
We will continue to use our expertise and persistence to provide greater expertise and technical support and services to our clients!