Hong Kong Fintech Association: Currently, none of the eight virtual banks in Hong Kong have reached a break-even point

Wang Yue, the new chairman of the Hong Kong FinTech Association, stated in an interview that the digital experience of the banking industry has significantly improved in the past six years, especially in retail banking. However, currently, none of the eight virtual banks have achieved a balance of payments. Jame DiBiasio, a director of the Hong Kong FinTech Association, believes that Hong Kong's Monetary Authority should continue to support the continuous development of virtual banks, and Hong Kong should accelerate the data sharing process, especially by opening up application programming interfaces (APIs) and promoting cooperation between financial technology companies, virtual banks, and traditional banks to accelerate virtual bank innovation and promote industry development.