Ant Bank (Hong Kong) receives $100m funding for growth
Ant Bank (Hong Kong) has secured a $100m investment from its parent company, Ant International, aimed at improving its service offerings and fostering partnerships.
This funding will enable Ant Bank to develop 'innovative' financial products and provide tailored solutions to customers, contributing to the evolution of Hong Kong's digital finance sector towards increased inclusivity.
In alignment with Hong Kong's "FinTech 2025" strategy and Smart City Blueprint, Ant Bank is utilising Ant International's technological resources to introduce a variety of financial services.
These include the eM+ High Yield Account, the "Ant Bank PayLater" service for buy-now-pay-later options, personal revolving loans with low interest rates, and fund investments starting from HK$1.
Claimed to be the only digital bank in Hong Kong integrated with an e-wallet, Ant Bank's innovations are designed to enrich the AlipayHK service ecosystem, creating a comprehensive lifestyle platform.
To promote its services, Ant Bank will run a campaign from 22 April to 30 May 2025, offering existing eM+ High Yield Account holders and new users an annual interest rate of up to 4.3% on their deposits.
Ant Bank (Hong Kong) CEO Yvonne Leung said: 'Over the years, international and local financial institutions have shaped Hong Kong into a global financial hub through professionalism and innovation.
'Ant Bank is committed to learning from industry leaders, deepening collaborations, and delivering more convenient, secure, and diverse services to Hong Kong residents while contributing to the city's economic development.'
The company further said it employs 'advanced' technologies for identity verification and transaction monitoring, including anti-deepfake measures and intelligent risk control systems.
Ant International Greater China general manager Venetia Lee said: 'Ant International is optimistic about Hong Kong's future.
'This investment reflects our confidence in the local market and long-term commitment, further driving the integration of financial services with the economy.'
Ant Bank (Hong Kong) obtained a banking licence from the Hong Kong Monetary Authority in 2019 and opened in 2020.
"Ant Bank (Hong Kong) receives $100m funding for growth" was originally created and published by Retail Banker International, a GlobalData owned brand.
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