Hong Kong unicorn WeLab operates a virtual bank as well as fintech and lending businesses in mainland China and Indonesia – with an IPO in sight.
Founder and CEO Simon Loong speaks with Jame DiBiasio about how to compare virtual banks with traditional ones; building a business for the Greater Bay Area; working with strategic investors like AllianzX, and what’s on the horizon.
- 0:00 – Simon Loong, WeLab
- 1:36 – Metrics for virtual banks
- 2:57 – Comparing with incumbent banks
- 5:27 – Fintech and virtual-bank lending practices
- 6:52 – Is tech really a differentiator?
- 8:54 – Incumbents also catching up in digital
- 11:06 – WeLab’s other businesses and markets
- 15:17 – Strategic investor AllianzX
- 17:14 – Wealth business in Greater Bay Area
- 20:56 – Tech’s role in GBA wealth and banking
- 23:27 – VCs and strategic investors
- 26:19 – IPO, profitability, and WeLab’s future