HKMA Hands out Three Virtual Banking Licences in Competitive Hong Kong Banking Market
The Hong Kong Monetary Authority, or HKMA, awarded three virtual banking licences to a number of joint venture companies with businesses expected to launch within six to nine months. The three licence winners are Livi VB, consisting of narrow-moat-rated BOC Hong Kong, JD.com and Jardine Matheson; SC Digital Solution, a joint venture between Standard Chartered, HKT, PCCW and Ctrip; and Zhong An Virtual Finance, a partnership between ZhongAn Online and Sinolink. Another five virtual bank applicati...HSBC Holdings is a financial services holding company. Through its subsidiaries, Co. operates four businesses: Retail Banking and Wealth Management, which serves customers through four businesses: Retail Banking, Wealth Management, Asset Management, and Insurance; Commercial Banking, which provides working capital, term loans, payment services, and international trade facilitation; Global Banking and Markets, which delivers a range of transaction banking, financing, advisory, capital markets, and risk management services; and Global Private Banking, which provides a range of private banking services. At Dec 31 2017, Co. had total assets of US$2.52 trillion and deposits of US$69.92 trillion.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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