British banking group Standard Chartered plans to launch a virtual retail bank in Hong Kong, CEO Bill Winters said.
Speaking at the 22nd Credit Suisse Asian Investment Conference in Hong Kong, Winters said that the bank is awaiting a licence for the same later in 2019.
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Earlier this year, the bank unveiled plans to launch digital-only retail banks in Uganda, Tanzania, Ghana and Kenya.
It already launched a digital retail bank in Côte d’Ivoire.
Commenting on its strategy, Winters said: “Between the bank we have built in Africa and the bank we are building now in Hong Kong and the pure digital experience we are creating in India, we have got three things on the shelf.
“Can we end up being a disruptor in Indonesia using digital platforms either alone or in partnership with an e-commerce platform? Yes, we can.”
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By GlobalDataRecent initiatives by Standard Chartered:
Standard Chartered has been in the news lately.
Last week, it launched a platform called SC Ventures Fintech Bridge.
The platform is designed to connect the bank and community builders including start-ups, investors and accelerators.
At the same time, it reportedly pumped over $2.5bn into its Singapore unit.
This February, Standard Chartered received a banking licence in Saudi Arabia.
