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Exclusive | Hong Kong virtual lenders ZA and Mox rank in top 10 in Sia Partners’ global study of mobile banking apps
- ZA Bank ranks sixth, while Mox Bank in 10th spot in the Global Mobile Benchmark study by French consultancy Sia Partners
- Players from Hong Kong and Singapore are ‘setting the standard for excellence for mobile banking apps’, Sia executive Stephen Walsh says
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Hong Kong’s digital banks compare with the best in the world, with two virtual lenders from the city featuring in the global top 10 thanks to improvements in their mobile banking apps, according to a study.
ZA Bank, the city’s largest virtual bank, ranked sixth in the 2023 Global Mobile Benchmark by French consultancy Sia Partners. Mox Bank, backed by Standard Chartered, ranked 10th. Singapore’s DBS Bank ranked seventh. Last year, ZA Bank ranked 16th and Mox 22nd.
“This is the first time we have seen three banks from Asia ranking in the global top 10,” said Stephen Walsh, associate manager at Sia Partners. “We have observed strong momentum across Hong Kong and Singapore as key players begin to set the standard for excellence for mobile banking apps.”
The study tracked 148 banking apps across 19 markets, including the US, UK, Belgium, Italy, France, Middle East, Hong Kong and Singapore.
The report, the fourth edition of Sia Partners’ global study to include Asian lenders, looked at 85 criteria, including functions, user experience and clients’ opinions to assess the apps, assigning each a score from 0 to 100. The Post got an exclusive preview before the report’s publication later this month.
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