Hong Kong unicorn: Simon Loong, WeLab, VOX Ep 17

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.

• Timecodes:
• 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