Nearly 2 in 5 HK adults will have virtual bank accounts by 2026

A total of 2,051,387 adults is projected to be virtual bank owners in five years.

The number of adults in Hong Kong with virtual bank accounts will rise to more than two million (32%) within a five-year period, a report showed.

Independent comparison platform Finder.com, in its report, said only 18% or 1,134,673 adults have virtual bank accounts at present.

This number is expected to 1,596,235 by 2022 and 2,051,387 by 2026.

Hong Kong’s projected growth rate in digital-only banking adoption—4 percentage points—is “faster than global average” of 11 percentage points, according to Finder’s global fintech editor, Elizabeth Barry.

Barry said HK is also ahead in terms of the number of licensed and operating digital banks in the Asian region.

The city is also expected to jump to number 10 in Finder’s virtual banking adoption by market rankings by 2026.

Currently, Hong Kong ranks 14th among 30 countries worldwide in terms of virtual banking adoption rate.

Follow the link for more news on

Finder

Also Read

HKMA to hold tender for 2-year exchange fund notes

PBOC and HKMA sign MOU on cross-boundary linkage of payment systems

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit