Apple Pay and Google Pay
First virtual bank in Hong Kong to support both Apple Pay and Google Pay.
Award winner
Celent Model Bank Award winner.
Customer satisfaction
Rapid adoption by customers with high levels of customer satisfaction.
Challenge
Challenge
Revolutionising retail banking in Asia
- In 2019, the Hong Kong Monetary Authority issued eight new digital-only banking licences to stimulate competition and align with the evolving needs of millennials and mobile-only customers
- Building a new bank is an ambitious endeavour. Creating one from scratch in just 18 months while working from home during the continuing Covid-19 pandemic, is unprecedented. But Mox, a Hong Kong virtual cloud-based bank created by Standard Chartered, managed to do just that*
* multimedia.scmp.com
Engagement
Engagement
Using an AWS cloud-based virtual infrastructure, Agile methods and DevOps to deliver an integrated banking solution in record time.
- GFT engineers leveraged a global delivery model and worked closely with Mox to build a mobile-only bank in just 18 months
- Used Thought Machine’s Vault as the core banking engine and was deployed entirely on an Amazon Web Services cloud-based virtual infrastructure
- Delivered at pace as an integrated solution
- Vault allowed the bank to create financial products as Python code, using Thought Machine's smart contracts system so that Mox have the freedom to innovate and develop new financial products independently in record time
Benefit
Benefit
Setting a new standard in customer experience
- Created a new virtual bank that puts the customer at the heart of everything it does
- Winner of the prestigious Celent Model Bank Award for Retail Digital Banking
- Unique customer benefits include insights from spending patterns, budgeting and automating of saving habits, cash back in real cash (not reward points)
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