【ZA Bank】We’ve made the Fortune Fintech Innovators Asia 2024 list! ✨
ZA Bank has been featured in Fortune’s inaugural Fintech Innovators Asia 2024 list—the only Hong Kong company to be recognised in the “digital banking” category 🎉. The list showcases 60 innovative and leading fintech companies in the region. To stand out in this highly competitive ranking is a great recognition of ZA Bank’s ongoing efforts to drive fintech innovation and provide quality services.
The only HK digital bank on the list 🏅
Fortune selected 60 companies out of more than 300 candidates in Asia, covering blockchain and crypto, payments, digital banking, insurtech and wealthtech. Being named among the top 15 digital banks is a testament to our excellence in technological innovation and market impact. This honour not only demonstrates our market-leading position, but also affirms our role as an industry enabler1.
Market trust and support 🤝
ZA Bank’s success is rooted in our focus to protect our users’ assets and data, and our constant efforts to improve our user experience. According to a recent survey2 conducted by the Hong Kong Association of Banks (HKAB), more than 97% of individual users and 99% of SMEs are satisfied with the security measures of digital banks. These numbers demonstrate the industry’s progress in security, and ZA Bank’s continued commitment is the key to winning users’ trust. Security and compliance are our top priorities, and this mindset has helped us to establish a strong position in the market.
A broader user base 👍
ZA Bank’s services do not just appeal to the younger generation—we are also gaining traction with the elderly population and SMEs. According to the HKAB survey, more than 65% of respondents aged 26-35 have digital bank accounts, and the ratio among those aged 55 or above is at nearly 45%. For the SME segment, over 80% of respondents aged 36-45 and more than 65% of those aged 55 or above use services provided by digital banks. These figures largely echo ZA Bank’s internal data, indicating that digital banking services have reached a wide range of age groups and business segments. This suggests that relevant products and services have broad appeal in the marketplace and can meet diverse needs.
Comprehensive and diversified services 📱
Digital banking services are evolving from basic banking features to more comprehensive financial solutions. The same survey shows that over 20% of individual users have adopted a wide range of digital banking services (e.g., insurance, investment, and payroll accounts), reflecting the rising demand for digital banking services across the market. ZA Bank has responded positively to this trend by successfully expanding our services from traditional deposit and savings offerings to more comprehensive financial solutions, further deepening our relationship with users and meeting their developing financial needs.
Looking into the future 🚀
The inclusion of ZA Bank in the Fortune Fintech Innovators Asia 2024 list is a testament to our past efforts and a strong impetus for future innovation. We will continue to promote fintech development, provide more efficient and secure digital banking services to users, and proactively tackle the future challenges of digital finance. We deeply thank all our users for their support and trust, which provide us with the greatest motivation to strive for continued progress and innovation 💚.
To learn more about the list, please visit Fortune’s website.
Notes:
1. Methodology for Fortune Fintech Innovators Asia (2024).
2. The Hong Kong Association of Banks (HKAB) Digital Banking Education Taskforce commissioned an online survey from 31 July to 8 August 2024, conducted by the School of Communication at Hong Kong Baptist University, to gauge public perception and usage patterns of digital banks. The survey engaged approximately 1,000 individuals and 200 SMEs.