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Standard Chartered backed Mox goes live in Hong Kong

Standard Chartered backed Mox goes live in Hong Kong

Standard Chartered-supported Hong Kong virtual bank Mox is opening its app to selected external customers following its brand launch last month.

The aim of this external pilot is to gather feedback from customers and prepare Mox for a launch to the broader public later this year.

Deniz Güven, CEO of Mox, says: “This external pilot is a critical step for selected external customers to use Mox, share their feedback with us and help us to refine our services.”

Operating on a core tech platform from Thought Machine, the app-based bank follows the traditional challenger model, with instant remote onboarding and goal-oriented spending and shopping calculators. MOX is also going live with tap-to-activate numberless bank cards for high street spending and ATM withdrawals.

Mox is one of eight virtual banks licensed by the Hong Kong Monetary Authority last year to encourage fintech innovation and boost competition in the territory's banking sector. Last week saw the initiation of pilot trials for Xiaomi and AMTD-backed Airstar Bank, joining ZhongAn Technologies' ZA, which opened in pilot mode in December.

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