Hong Kong’s ZA Bank crosses 300,000 users

ZA Bank has crossed the 300,000 user mark in its platform, adding up to 4% of Hong Kong’s population, the bank announced.

Having reported over 220,000 clients as at December 2020, this new figure means that the bank was able to acquire about 80,000 new clients over the past three months.

The bank has also churned out HK$650m in loans, and has reportedly paid interest of over HK$6b for personal savings. ZA Bank is celebrating its first anniversary on 24 March. In the span of a year, the bank has undergone 25 updates, while also rolling out an average of three new functions every month.

The bank also shared that its proprietary eKYC technology has made it possible to crunch the amount of time it takes to open a new account to an average of two minutes and three seconds.

Card users have also enjoyed some perks, receiving a total of HK$6.5m in rebates, which ZA Bank said is equivalent to 250,000 double cheeseburgers.