Question 1

What is livi Bank?

Accepted Answer

livi Bank is a licensed virtual bank operating in Hong Kong. Established as a joint venture between three major financial and commercial entities, livi delivers a fully digital banking experience through its mobile app. The bank serves retail customers and small to medium-sized enterprises (SMEs) with no physical branches, focusing on technology-driven financial services.

livi Bank is backed by BOC Hong Kong (Holdings) (44% shareholding), JD Technology (formerly JD Digits, 36% shareholding), and the Jardine Matheson Group (20% shareholding), with an initial combined investment of HK$2.5 billion.

Question 2

When was livi Bank founded?

Accepted Answer

livi Bank was granted a banking license by the Hong Kong Monetary Authority on March 27, 2019, as part of Hong Kong's initiative to introduce virtual banking and support the city's entry into the Smart Banking Era. The bank officially launched its services to the public on August 12, 2020.

The bank was formed to foster fintech innovation, promote financial inclusion, and enhance customer experiences by combining the strengths of its three shareholders: financial expertise from BOC Hong Kong, technological capabilities from JD Technology, and extensive retail networks from Jardines.

Question 3

Where is livi Bank headquartered?

Accepted Answer

livi Bank is headquartered at 28/F Oxford House, Taikoo Place, Quarry Bay, Hong Kong. As a virtual bank with no physical branches, all services are delivered through its digital platform.

The bank registered its Chinese name, 理慧銀行有限公司, in January 2022, alongside its English name.

Question 4

Where does livi Bank operate?

Accepted Answer

livi Bank operates exclusively in Hong Kong, serving customers throughout the territory via its mobile banking app. The bank targets both retail consumers and SMEs across Hong Kong.

The bank has strategic ambitions to extend its services into the Greater Bay Area (GBA), leveraging its shareholder relationships, particularly BOC Hong Kong's strong presence in the region and leadership in renminbi clearing.

Question 5

What services does livi Bank offer?

Accepted Answer

livi Bank offers a comprehensive range of digital banking services including savings accounts (liviSave), time deposits, personal loans, and SME business banking. The liviSave account features no minimum deposit requirements, no account fees, and competitive interest rates.

Payment services include UnionPay QR Payment for merchant transactions, Faster Payment System (FPS) for real-time transfers, and electronic Direct Debit Authorization (eDDA). The bank launched livi Business in early 2023, offering SME account opening in as little as 24 hours and digital unsecured instalment loans with rapid approval processes.

Digital services are delivered entirely through the livi mobile app, featuring biometric authentication (fingerprint and face recognition), real-time transaction notifications, and 24/7 customer support via live chat and phone. The app incorporates advanced technologies including AI, blockchain, big data, and smart risk modeling.

Question 6

What makes livi Bank unique?

Accepted Answer

livi Bank distinguishes itself through the strategic combination of its three shareholders' capabilities: BOC Hong Kong's banking expertise and financial strength, JD Technology's digital innovation and e-commerce ecosystem, and Jardines' extensive retail network including Wellcome supermarkets, 7-Eleven, Mannings, and Starbucks franchises.

The bank was the first virtual bank in Hong Kong to offer digital unsecured instalment loans to SMEs, achieving 24-hour approvals through Open API, Commercial Data Interchange (CDI), and machine learning. livi's lifestyle-driven approach integrates banking with everyday consumer activities, offering exclusive merchant partnerships and rewards programs.

The bank emphasizes financial inclusion by serving previously underserved market segments, particularly SMEs, with no minimum balance requirements and no account maintenance fees.

Question 7

What type of financial institution is livi Bank?

Accepted Answer

livi Bank is a licensed virtual bank under the Hong Kong Banking Ordinance, regulated by the Hong Kong Monetary Authority. Virtual banks in Hong Kong are authorized institutions that deliver retail banking services primarily through digital channels without physical branches.

As a virtual bank, livi holds a full banking license and customer deposits are protected under Hong Kong's Deposit Protection Scheme up to HK$500,000 per depositor. The bank operates with the same regulatory standards as traditional banks while focusing on digital-first service delivery.

livi serves both retail and commercial banking segments, positioning itself as a universal digital bank catering to individual consumers and SME business needs.

livi Bank

in Hong Kong 🇭🇰

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About livi Bank in Hong Kong