StanChart: Success of Virtual Banking in H.K. Depends on Partnerships

The transcript discusses the process of building a virtual bank, highlighting the unique challenges and innovations involved. It emphasizes the importance of partnerships, particularly with Fintechs, and the need to address unmet market needs. The discussion also covers the regulatory support from Hong Kong authorities, which facilitates the digital onboarding of customers and the use of public cloud infrastructure. The transcript concludes by addressing the technological and regulatory challenges faced by virtual banks.

What are the key steps involved in building a new virtual bank according to the text?

How do virtual banks differ from traditional banks in terms of innovation and customer service?

What challenges are mentioned regarding the technology setup for the virtual bank?

What role do partnerships play in the success of virtual banks as discussed in the text?

What regulatory changes have been made to support the establishment of virtual banks?