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India's First International News Journal

Sunday, September, 25, 2022

Press Release

GLOBAL FINTECH BANK TAKES OFF
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LABUAN, Malaysia, Jan. 24, 2022 /PRNewswire/ — 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. 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.

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.

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). Set in the Labuan International Business and Financial Centre (IBFC), the bank is strategically located in the heart of Asia Pacific. Regulated by the LFSA, Labuan IBFC is home to more than 16,000 registered companies and more than 800 licensed entities operating regionally, presenting a perfect financial opportunity for businesses seeking to connect with Asia’s economies and beyond.

“FINTECH BANK is entering an exciting phase where we can work with customers and companies globally. We look forward to providing banking solutions for onshore and offshore entities, making transactions easy, efficient, and secure across the world. We aim to onboard one million customers online who place their trust in our financial services in the next 12 months. As our institution grows, we also plan to scale up our operations and continuously provide better offerings for customers.” said Gavin Lim, FINTECH BANK director.

For more information about FINTECH BANK LTD, please visit our website, https://www.fibank.com.

FINTECH BANK LTD. (License No: 210137B)Bank licensed under Labuan Financial Services & Securities Act 2010

Labuan OfficeLevel 4 (J), Main Office Tower, Financial Park Complex Labuan, Jalan Merdeka, 87000, Federal Territory of Labuan, Malaysia.Tel: +6087 430 461

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Kuala Lumpur Office2nd Floor, Wisma Ho Wah Genting35, Jalan Maharajalela,50150 Kuala Lumpur, Malaysia.Tel: +603 2702 8133

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About FINTECH BANK LTD (FBL)

FINTECH BANK LTD (License No: 210137B) is a fully regulated global bank based in Labuan, Malaysia established by a team of prominent, Wall Street experienced bankers and lawyers duly licensed by Labuan Financial Services Authority in Malaysia. Powered by advanced Temenos banking technology, the Bank has offered personal banking, business banking, and fiat currencies settlement serving a large and rapidly expanding clientele worldwide. FBL has a “fortress” balance sheet, zero customer loan exposure, pristine regulatory compliance record, strong customer privacy protection, speedy client onboarding, and 24/7 e-banking.

About Labuan Financial Services Authority (Labuan FSA)

Labuan Financial Services Authority (Labuan FSA) was established on 15 February 1996 under the Labuan Financial Services Authority Act 1996. Labuan FSA is the statutory body responsible for the development and administration of the Labuan International Business and Financial Centre (Labuan IBFC), home to more than 16,000 registered companies and more than 800 licensed entities operating regionally, presenting a perfect financial opportunity for businesses seeking to connect with Asia’s economies and beyond.

Disclaimer: This Press Release has not been vetted or endorsed by The Eastern Herald's editorial staff.

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