Why has Asia not seen the emergence of a challenger bank seeking to disrupt traditional banks head-on? The U.K. has Atom Bank, Germany has N26, and the U.S. has a variety of neb-banks transforming banking channels. Guest host David Zweifler and DigFin’s Jame DiBiasio discuss how Asian fintech startups such as Baasis and Marvelstone are taking lateral approaches to recreating banking infrastructure or reinventing the financial institution without confronting banks – and why Asian banks could emerge even stronger.
Vox: James Lloyd, EY, on virtual banks
James Lloyd discusses the likely impact and remaining questions about the first recipients of Hong Kong VBLs.
James Lloyd, partner at EY, has been involved in helping clients obtain a virtual-banking license in Hong Kong. From that perch, he speaks with DigFin about what a VBL actually means, and how it might impact financial services in Hong Kong and beyond.
The conversation is timely, given that the first three licenses were just awarded by Hong Kong Monetary Authority. It did so on the basis of applicants that demonstrated resilience (the HKMA doesn’t want to see a bank failure), a strategy for financial inclusion, and a ready business plan.
But what does ‘resilience’ imply for business models? How are these banks different from challenger banks in other markets? What does financial inclusion mean in the context of a wealthy city? And how concrete are the designs of these newly licensed companies, which are at this stage just amalgamations of partners? Click to listen and find out.
Vox: Dave Chapman, B.C. Group
B.C. Group’s Dave Chapman argues why financial services will migrate to blockchain and the outlook for crypto.
In this episode of DigFin Vox, Dave Chapman speaks about the outlook for blockchain-based finance.
Chapman is executive director of B.C. Group, a listed company in Hong Kong that includes businesses such as ANXONE, an institutional crypto exchange, and OSL, an OTC brokerage for digital assets.
He discusses with DigFin‘s Jame DiBiasio why he believes financial services will continue to shift to digital assets, despite last year’s crash in the industry. Listen here or subscribe to DigFin Vox in the Apple podcast store.
Vox: PwC’s Henri Arslanian on the crypto outlook
Where the action is: insto demand, regulation, tech.
Henri Arslanian is well known for championing crypto and digital assets. As a partner at PwC in Hong Kong, he has been at the forefront of developing governance standards for crypto exchanges and blockchain companies, and helping make digital assets accessible to institutional investors.
In this discussion with DigFin‘s Jame DiBiasio, Arslanian talks about what’s next for crypto following last year’s ICO bust and the onset of a “crypto winter”. He goes into institutional demand, regulatory advances, business models, and what it takes for a blockchain company to get a Big Four accountancy’s audit.
Among his viewss: the crypto industry today is comparable to where hedge funds were in the early 1990s. Listen to get a global update on the state of play in digital assets.