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

Simon Loong of WeLab talks virtual banking, Greater Bay Area, and the road to profitability.

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Simon Loong, WeLab

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

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