Port communicationTencent、JD.com Finance plans to join forces to apply for virtual banking license in Hong Kong, July 30 news，According to Hong Kong’s Ming Pao newspaper，BOC Hong Kong and JD Finance will form a tripartite alliance with Tencent，Join forces to apply for a Hong Kong virtual bank license。 The report also stated，Ant Financial may apply for a license separately，Cooperation will be sought in the future when necessary。(source：Lingyi Finance) So what is a virtual bank?
"Virtual Bank" is defined as：A bank that provides retail banking services primarily through the Internet or other forms of electronic channels rather than through physical branches。 Which applicant institutions can take the lead in meeting the conditions for applying for a virtual bank license?
The Hong Kong Monetary Authority stated，Priority will be given to applicants who can prove the following conditions： (1) The applicant has sufficient financial resources、Technology and other related resources to operate a virtual bank； (2) The applicant’s business plan is credible and feasible，Can provide new customer experience，and help promote inclusive finance and the development of financial technology； (3) The applicant has established or has the ability to establish a suitable information technology platform to support its business plan； (4) The applicant can start operations earlier after being granted the license。
Industry insiders believe，Virtual banking as a new operating model，Hong Kong’s “Recognition of Virtual Banks” Guidelines，Equivalent to establishing conditions for virtual banks、How to regulate virtual banks and more explore new lessons，Worth learning from mainland regulators。Relevant personnel expressed，More than 50 companies have expressed their willingness to apply for virtual banks，Several overseas financial institutions and technology companies with virtual banking experience have submitted business plans and preliminary application materials.。
8Applications must be submitted before the end of the month to be included in the first batch of processing，If you are interested, hurry up。
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