Owned by Chinese conglomerate Tencent , which holds a 30 % controlling share in the company , WeBank is one of Asia ’ s largest neobanks . Arranged strictly in terms of market valuation , WeBank is among the largest digital banking unicorns in the world , with a formidable valuation of $ 21bn according to Euromoney . Despite this , true to form , the company has no physical branches and maintains a strictly online platform . Utilising cutting-edge tech , WeBank employs an innovative system of facial recognition capabilities combined with big data credit checking when generating loans . Its reputation already well-established in China , the company has reportedly been considering expanding into international markets like Australia since 2019 .

DAVID KU