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Bank of China (Hong Kong) came out as the top Wealth Management Bank, reporting 180% post-pandemic growth in the affluent client segment. Its FamilyMAX suite, catering to young millionaire families, and the Home Expert app that boosted online mortgage applications by 59%, underscore the bank’s leadership in the industry.

Mox emerged as the Best Digital-only Bank in Hong Kong, recognised for customer growth, wealth management offerings, customer experience, and financial performance. The bank has taken the lead in terms of new monthly users, securing 30% market share in deposits and 34% in loans. Mox has nearly tripled its revenue, boasting 38% overall market share.

Standard Chartered’s SC Mobile Next Gen was named the Best Mobile Banking Service with a 4.6/5.0 Google Play rating. The revamped app in 2023 led to significant growth in users, transaction value, and eKYC onboarding.

PAOBank was recognised for Best Digital SME Financing, with 34% of small and medium-sized enterprises (SMEs) on its books, and 9% of startups obtaining first loans from the bank. By integrating traditional and digital banking with fintech partnerships, PAOBank boosted SME loans by 18% and expanded its SME customer base by 28% in 2023.

Hang Seng Bank was selected for Best Deposit Product that linked family members' accounts for integrated financial planning. With this product, family CFOs can manage deposits, investments, and foreign currencies under one main account.

Dah Sing Bank’s Next Best Action Product Recommendation Engine was acknowledged for the Best Personalisation Initiative. Using over 280 data sets, it boosted revenue by 56%, credit card loan growth by four times, conversion rates by five, and reached 60% more customers.

Bank of East Asia was awarded for Best eKYC and Digital Account Opening. The bank’s advanced eKYC technology, including document ID and live facial recognition, achieved over 90% customer processing and approval in 2023.

China CITIC Bank International was recognised for Best Big Data and Analytics Infrastructure Implementation. CITIC’s AI models for real-time customer profiling doubled sales transactions and increased assets under management per customer by 35% year-on-year.

Click here for the list of Excellence in Retail Finance and Technology Innovation Hong Kong Awards 2024 Winners.

banking and finance, small business financing, deposit products, mobile banking services, personalisation initiatives, ekyc, big data analytics infrastructure, familymax suite, home expert app, digital-only bank, sc mobile next gen, google play rating, digital sme financing, deposit product, integrated financial planning, next best action product recommendation engine, digital account opening, big data and analytics infrastructure implementation