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The issuance of eight virtual bank licenses by the Hong Kong Monetary Authority (HKMA) and four virtual insurer licenses by the Insurance Authority (IA) has led to an increase of Hong Kong’s overall innovation and technology adoption level.

To understand the perception of the public towards virtual banks and insurers in Hong Kong, we ae delighted to announce our second industry report under the Fintech Research Project “The Adoption of Virtual Banks and Insurers”!

The report features findings from a survey conducted between May and July 2020 and seeks to uncover the opportunities and challenges these virtual service providers face at the beginning stage. The report highlights key observations drawn from over 2,200 respondents in different demographics. A wide range of insights related to public product and service appeal, success factors and measures to facilitate user adoption and more are also featured to support virtual banks and insurers to adapt their business models and better align their branding with the public’s perception.