WeLab Bank, a Hong Kong-based virtual bank, announced that it officially opened for less than ten days, and the total number of account opening applications exceeded 10,000. The neobank stated that this displayed the new generation of banking services where customers can open an account anytime from anywhere in a convenient and safe way. The challenger bank mentioned that since its opening, WeLab Bank’s products have been well received. More than 8,200 people have participated in GoSave time deposits and the WeLab Debit Card 8 percent cash rebate facility.
Xie Xuehai, Chief Executive Officer of WeLab Bank expounded, “WeLab Bank implements the concept of inclusive finance. The product design is based on customer experience. The experience from opening an account to using various products is very simple, and it is extremely popular with all ages. So far, the first 10,000 people The age of the account opening customers ranged from 18 to 83 years old, of which more than seventy became 20 to 39 years old. The oldest 83-year-old silver-haired customer only took 5 minutes to successfully open an account through a mobile phone. With advanced technology and continuous testing, WeLab Bank can provide customers with an extremely fast service experience. As a virtual bank licensed by the HKMA, all our products and technologies have passed independent third-party evaluation and audit to ensure reliability and safety.”
More than 60 percent of customers have used two or more WeLab Bank products, and over 70 percent of customers use Fast Transfers (FPS) to process cash transfers via mobile phones, as reported by the bank. Customers can apply for a WeLab Debit Card, which is a numberless card issued in collaboration with Mastercard. Among the customers who have used this card, the bank has mentioned that over 65 percent of them are high-volume customers.
Xie Xuehai stated, “The epidemic has had a great impact on many industries, and some traditional banks need to adjust the service hours of branches, while WeLab Bank has brought a new experience to Hong Kong people with its fast banking services. WeLab Bank’s services can be 100%. Baizhe provides it on mobile phones. Customers can still open an account anytime, anywhere in the fastest 5 minutes under the epidemic, and then immediately use the virtual Debit Card to spend to earn cash rebates, and board the GoSave deposit minibus to earn high interest rates. It is simple and easy. direct!”