FINTECH BANK To Spread Its Wings With Its Digital Banking Foray

FINTECH BANK LTD (FBL), a Labuan-based commercial bank licensed by the Labuan Financial Services Authority (Labuan FSA), has started to serve a large and rapidly expanding international clientele. The bank will be the first seamless business and fintech industry-friendly commercial bank in Asia.

FINTECH BANK offers a wide range of global banking solutions to satisfy its clients’ customers’ needs on a 24/7 basis. Adopting Temenos, the world’s no.1 banking system in their services, allows customers to open a personal or a business bank account online efficiently and securely.

In a statement, it said that the new bank account applications can be approved within 5 minutes in total privacy via authenticated facial recognition technology in full compliance with AML/KYC/CFT protocols. The process becomes a fully digital onboarding experience with zero physical bank branch visits required.

Fintech Bank said that the companies from all jurisdictions and individuals can set up a bank account with zero monthly maintenance fee and no minimum account balance, fast customer wire transfers, and enjoy its banking solutions, intending to make transacting easier across the globe.

It said that apart from the efficient online onboarding, FINTECH BANK connects the digital assets and fintech industry with fiat currencies by offering clearing and settlement solutions for institutions, companies, investors, and retail users worldwide. The goal is to bring simplicity and efficiency to every digital asset transaction.

FINTECH BANK is a strategic partnership between Ho Wah Genting Investment Bank (Labuan) P.L.C and Hamilton Reserve Bank, a fully regulated global bank providing services in 10 different currencies across 150 countries, to serve the needs of the fintech industry in a wider capacity. To this end, the bank follows top compliance programmes to give customers the best banking experience possible.

The financial institution first commenced its operations as a new commercial bank licensed by the LFSA in April 2021. The bank is headquartered in Financial Park Labuan, the largest integrated commercial landmark in the Federal Territory of Labuan, Malaysia, and started online onboarding customers worldwide from 15 July 2021 upon licensed by Labuan FSA, the regulatory body for Labuan International Business and Financial Centre (IBFC).

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