The secrets of creating a successful online bank
Mox by Standard Chartered continues to experience unprecedented success in Hong Kong
Mox is enjoying tremendous success as an online bank. Led by CEO Deniz Güven, the smartphone app has taken Hong Kong by storm, snatching more than 100,000 customers in its first year. It is rare for a fintech to succeed so well. And especially for a patrimonial bank to create it. Finally, banking giant Standard Chartered has proven that finance godfathers can really beat tech companies at their own game.
So how did Mox do it? What secret formula did they follow up, that the scores of other banks before them could not? To find out what Mox did exactly differently, the leading app builder Vacuum laboratories asks the pioneers, without neglecting anything. The software development company devotes an entire podcast to its channel, Online banking.
Online banking is a podcast for financial leaders, by financial leaders
As trusted partners, the team of Vacuum laboratories is perfectly placed to question the brains behind Mox. They are very familiar with the application and, as Güven himself comments, Vacuum laboratories was a fundamental player around the table. Together, host Marcel Klimo and Mox will discover what made the application so successful. And more importantly, how banks today can use this information to continue innovation.
“Online banking was created to inspire banks around the world. To help them unleash their digital potential. We are delighted to welcome CEO Deniz Güven and the Mox team on board. Together, we can shine a light on the incredible power of financial technology and how it can improve the lives of people everywhere., comments Marcel Klimo.
Listeners get a unique insight into the philosophy and strategy behind Mox’s success
Many long-standing banks have tried unsuccessfully to create banking apps. Often times, they can rack up millions of pounds of losses along the way. As well as disappointing customer reviews. The podcast sessions will dig deeper into the details of what Güven did differently.
Mox was an instant hit in Hong Kong, but for the Mox team it was no surprise.
‘We identified 80 pain points and tried to solve each of them with technology ‘, reveals Güven.
Podcast listeners can hear directly from the founders how they identified pain points and created micro-innovations. They will also get a unique insight into its approach to hiring staff and building partnerships to create such a successful product.
‘The ideas are fresh, exciting and invigorating. A must for any financial c-suite ”, comments Marcel Klimo.
Güven and the team have a fierce passion for the future, leaving auditors in no doubt about Standard Chartered’s strategic direction.
“Instead of focusing only on a mobile app and pushing technology and pricing, we have decided to focus on a new operating model, which can bring us many different opportunities and also many chances to differentiate ourselves. in Hong Kong.‘, exclaims Güven. “Let’s build the future operating model of Standard Chartered!‘.
Enjoy episodes of the Banking on Air podcast on: https://vacuumlabs.com/podcast
Media contact: Zuzana Gergelova, [email protected]
About Online Banking
Online banking is a leading FinTech podcast that invites innovators around the world to join in on lively and productive discussions. It is hosted by Marcel Klimo, Sales and Growth Engineer at Vacuumlabs, and Helene Panzarino, world-renowned fintech influencer and author of “Reinventing Banking and Finance”.
With over 30 podcasts to boot, the platform takes a look under the hood at the evolution of technology, digital banking, payments and more.
Vacuum laboratories is a global technology partner with a proven track record in providing complete fintech solutions. It provides agile, remote by nature teams of software engineers and designers with years of experience building fintech, cryptocurrency and digital product launches.
From our seven offices, we support our clients in their product development needs. Since 2012, our engineering team has grown to 250, and today we have over 60 clients, from Singapore to San Francisco.
Mox is a new virtual bank in Hong Kong backed by Standard Chartered, in partnership with HKT, PCCW and Trip.com. We are the combined power of a trusted international banking group, the city’s telecommunications and lifestyle leader, and Asia’s largest online travel agency. Mox offers a suite of retail banking plus lifestyle benefits in one place, growing your money, your world and your possibilities.