This is no mean feat . After all , Standard Chartered ’ s Virtual Bank will see it build a new tech stack from scratch , become a real cloud-based bank , redefine the customer onboarding model and much more . Before the bank could begin tackling these massive hurdles , it first had to get its license from the Hong Kong Money Authority . At the start , Deniz ’ team consisted of only 10 people who worked around the clock to finalise the banking application . “ It was an important milestone for the bank ,” he says . Now , with the license granted , the virtual bank is expected to commence early 2020 and will act as a wholly separate entity from Standard Chartered . “ It ’ s a separate bank but our relationship with Standard Chartered is really close ,” he notes . Samir echoes this sentiment , adding that while Standard Chartered has “ sharpened its focus on the affluent and emerging affluent ”, the virtual bank is allowing it to “ resonate with younger customers such as millennials ”.
This is not the only partnership backing up the virtual bank . “ As part of the joint venture we have partnered with PCCW and HKT , which , with more
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