The Future of Banking: Virtual Banks & Digital Challengers

The Future of Banking: Virtual Banks & Digital Challengers

Join our panellists from HSBC and virtual banks WeLab Bank and Mox as they explore and debate how choices for consumers and the Hong Kong banking landscape have changed since the arrival of virtual banking.

In 2017, the Hong Kong Monetary Authority (HKMA) announced it would facilitate the establishment of virtual banks in Hong Kong as part of a package of initiatives to bring the city into a new era of smart banking.

The HKMA recognised a changing landscape across the financial services sector in Hong Kong - driven by technology's embeddedness in customer lives – to which the industry needed to adapt in order to remain relevant and competitive. As such, they responded by granting eight virtual bank licences.

This has created an unprecedented and hyper competitive dynamic in Hong Kong’s banking landscape, characterised by a confluence of different forces. Customers today have the luxury of choosing from over 160 licensed banks in Hong Kong - some of which have no physical presence. The future is still to be determined.

Our panellists will clarify what the arrival of virtual banks means for Hong Kong’s banking sector - both in terms of customer experience and service offerings.


Zoom webinar - access details will be sent via email to registered guests one hour before the event start time

Please note: The views, thoughts, and opinions expressed by the speaker(s) belong solely to the speaker, and are not representative of the Australian Chamber of Commerce in Hong Kong.


Wed, April 28, 2021


05:30 PM - 06:30 PM



Zoom Webinar


Member: $100.00

Non-Member: $200.00


Jen Flowers
Asia Head of Partnership Development and Innovation | HSBC

An advocate for design thinking, Jen leads Partnership Development & Innovation in Asia for HSBC Wealth and Personal Banking. She has 16 years in the professional services business focused on business development, market strategy, client relationships and building new services and products across digital, data, customer and emerging technology.

Currently she is leading a team in Asia looking at how partnerships help bring digital-led innovation to HSBC's core business as well as push the boundaries of how they operate. Jen's customer led approach to delivering business results includes surfacing services across digital platforms to create relevance, opportunity, new products and entirely new businesses whilst building new distribution for existing products and services.

Jessica Lam
Chief Strategy Officer | WeLab

Jessica is the Chief Strategy Officer at WeLab – a leading fintech company in Asia with one of the first virtual banks established in Hong Kong – operating as WeLab Bank. WeLab provides financial services by creating seamless digital experiences to close to 50 million individual customers and over 700 enterprise customers, across Hong Kong, Mainland China and Indonesia.

Jessica drives the group’s overall strategy which includes spearheading the rollout of the WeLab. Prior to joining WeLab, Jessica spent over 12 years at Goldman Sachs in Hong Kong, Singapore and London specialising in Investment Banking as well as Private Wealth Management.


Edwin Hui
Head of Strategy and Corporate Affairs | Mox

Edwin heads Strategy and Corporate Affairs at Mox and sits on the bank’s Executive Committee. He is passionate about driving the growth of the banking industry in Asia and believes that virtual banks will be a game changer in Hong Kong.


Prior to his current role, Edwin was Managing Director, Regional Head of Investor Relations for Standard Chartered and prior to that, an Equity Research Analyst at Bank of America Merrill Lynch covering Hong Kong and Chinese financials.

James Hogan
Co-Chair of FLT Committee and Board Director | AustCham Hong Kong

James is currently an active board member, advisor and investor in several businesses within the biotech and fintech sectors. A former international banker, he worked for HSBC for 32 years in a variety of senior wholesale banking and general management roles largely across the Asia-Pacific Region, including 5 years in Australia (2011 – 2016).


Originally from Ireland, James holds a Bachelor of Commerce degree from University College (UCD) and has also attended executive education programmes at Tsinghua University, London Business School, INSEAD, and Harvard Business School.