Latest news with #AntBank
South China Morning Post
18-05-2025
- Business
- South China Morning Post
Mainland bank in Hong Kong investigates unauthorised transactions on FPS platform
A mainland Chinese bank in Hong Kong is investigating unauthorised transactions on the Faster Payment System (FPS) involving one of its clients, the Post has learned, with experts saying breaches on the widely used platform are uncommon and may involve hacking. A client of the China Construction Bank (Asia) in Hong Kong told the Post she had never used FPS but lost HK$20,000 (US$2,560) in two unauthorised transactions via the platform to an account with Ant Bank under a mainland name on April 1. The victim, a businesswoman surnamed Chen, said three other transactions totalling HK$30,000 made consecutively with the first two transfers were blocked by the bank, with the lender telling her initially that it did not find any problems with its security systems. Chen said she was later asked by the lender to file a report to police, who in turn told her that FPS breaches were uncommon and that her bank had the responsibility to liaise with Ant Bank to reclaim the loss. Chen said that during the process of seeking recourse, she felt furious and helpless as she received little explanation as to how the bank would look into her losses while police had not yet updated her about their investigation. 'It was this feeling of being very helpless ... We're not protected by the bank, we're not protected by the police,' she said.
South China Morning Post
18-05-2025
- Business
- South China Morning Post
Bank in Hong Kong investigates unauthorised transactions on payment system FPS
A mainland Chinese bank in Hong Kong is investigating unauthorised transactions on the Faster Payment System (FPS) involving one of its clients, the Post has learned, with experts saying breaches on the widely used platform are uncommon and may involve hacking. Advertisement A client of the China Construction Bank (Asia) in Hong Kong told the Post that she had never used FPS but lost HK$20,000 (US$2,560) in two unauthorised transactions via the platform to an account with Ant Bank under a mainland name on April 1. The victim, a businesswoman surnamed Chen, said three other transactions totalling HK$30,000 made consecutively with the first two transfers were blocked by the bank, despite the lender telling her initially that it did not find any problems with its security systems. Chen said she was later asked by the lender to file a report to police, who in turn told her that FPS breaches were uncommon and that her bank had the responsibility to liaise with Ant Bank to reclaim the loss. Chen said that during the process of seeking recourse, she felt furious and helpless as she received little explanation as to how the bank would look into her losses while police had not yet updated her about their investigation. Advertisement 'It was this feeling of being very helpless ... We're not protected by the bank; we're not protected by police,' Chen said.
Yahoo
24-04-2025
- Business
- Yahoo
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. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
24-04-2025
- Business
- Yahoo
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. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
10-04-2025
- Business
- Yahoo
AXA partners with Ant Bank and AlipayHK to offer embedded insurance
AXA Hong Kong and Macau has teamed up with Ant Bank and AlipayHK to provide insurance products and services to AlipayHK users via Ant Bank and its Mini App within the AlipayHK App. The partnership will combine AXA's insurance expertise with Ant Bank and AlipayHK's digital banking model, E-wallet X Digital Bank, to offer tech-driven embedded insurance products and services. The new offering will include solutions for savings, health protection and wealth accumulation. In its first phase, AXA's flagship life and savings products – including the FortuneXtra Savings Plan, Wealth Ultra Savings Plan, Max Wealth Insurance Plan and Max Goal Insurance Plan – will be introduced on Ant Bank and its Mini App in the AlipayHK App. AXA also plans to gradually integrate additional insurance product categories, further strengthening the collaboration between the three parties. AXA Greater China CEO Sally Wan said: "We are honoured to become a strategic partner of Ant Bank and AlipayHK, leveraging synergies to create new opportunities and achieve multiple benefits for all parties. 'We look forward to further deepening the integration of our services with Ant Bank and AlipayHK, strengthening the insurance ecosystem, and jointly expanding our long-term business and customer network." Ant Bank, a subsidiary of Ant International, provides financial services including funds, wealth management and insurance. Ant Bank Hong Kong chief executive Yvonne Leung stated: "This collaboration builds on our successful partnership with AlipayHK in areas such as payments, interest-earning balances, Buy Now Pay Later and funds, among others, while further integrating AXA's insurance services into the digital ecosystem." AlipayHK is a 'Super App' used by Hong Kong residents and powered by Alipay+ Wallet Tech. It introduced services such as Ant Bank PayLater and eM+, a savings and investment product developed with Ant Bank. Last month, AXA XL partnered with Darkweb IQ to improve cybersecurity measures for its cyber insurance clients by offering "preferential pricing" on the latter's services. "AXA partners with Ant Bank and AlipayHK to offer embedded insurance " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
