ZA Bank Readies for Transformation of Hong Kong Banking with Selection of Fiserv Payment Technology

Digital-ready, API-enabled issuer processing platform accelerates service launch

BROOKFIELD, Wis. & HONG KONG--(BUSINESS WIRE)--#fintech--Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, and ZA Bank, the first virtual bank to launch a pilot trial in Hong Kong, today announced that the bank is leveraging technology from Fiserv to enable a transformative banking experience for its customers.


With its “Community-Driven” approach, ZA Bank has prioritized the rapid launch of innovative capabilities that align with customers’ changing lifestyles. To help ZA Bank fulfill this goal, Fiserv is equipping the bank with VisionPLUS® global payment software, which supports the entire card payment lifecycle, including origination, card issuance, authorization, settlement and customer service. Its service-oriented core architecture and open APIs enable quicker application development and integration, which in turn allows financial institutions like ZA Bank to develop and launch innovative products faster and at a lower cost.

“We are pleased to partner with Fiserv as we embark on a journey to shift the lifestyle of future banking users,” said Rockson Hsu, CEO of ZA Bank. “With our companies’ combined knowledge and expertise in banking and technology, we are well-placed to respond fast to the ever-changing market with an agile product development approach. By doing so, we can better cater to customers’ needs with cutting-edge offerings.”

The flexibility and scalability of the VisionPLUS platform, along with the extensive experience of the Fiserv team, will complement ZA Bank’s existing capabilities in product innovation.

“Ultimately, we want to offer superb user experiences via a robust and secure platform. I am confident that with the support of Fiserv, ZA Bank will be well-positioned to deliver relevant, convenient and excellent services to our users,” Rockson said.

“The launch of ZA Bank is an important milestone in the financial services sector in Hong Kong and across Asia Pacific, as it is a modern banking option aligned to the changing way people want to move and manage money,” said Ivo Distelbrink, EVP and head of Asia Pacific, Fiserv. “Fiserv is enabling the digital transformation of many institutions in the region and will continue to help banks that are focused on digital experiences to innovate, differentiate and operate more efficiently.”

Fiserv is a leading global provider of financial services technology solutions, serving thousands of financial institutions and millions of businesses in more than 100 countries. The company works with corporates, banks and non-bank financial institutions in 15 markets across Asia Pacific, providing technology and expertise to enable institutions to successfully execute their banking and payments strategies.

In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.

About ZA Bank

ZA Bank Limited (“ZA Bank”), licensed by the Hong Kong Monetary Authority (“HKMA”) on 27 March 2019, is one of the first batch of virtual banks in Hong Kong, offering a wide range of online financial services to Hong Kong users. ZA Bank was established by ZhongAn Technologies International Group Limited (“ZA International”). With its “Community-Driven” approach, ZA Bank encourages users to directly contribute to its product development and design process together, guiding the bank to design and develop innovative products and services that will better serve the needs of Hong Kong customers.

ZA International was established in Hong Kong in December 2017, by ZhongAn Online P&C Insurance Co., Ltd. (HKEX stock code: 6060), an online-only insurtech company in China, to explore international business development, collaboration and investment opportunities in the area of fintech and Insurtech in overseas market.

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale solution. Fiserv is a member of the S&P 500® Index and the FORTUNE® 500, and is among FORTUNE World’s Most Admired Companies®. Visit fiserv.com and follow on social media for more information and the latest company news.

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Contacts

Media Relations:
Dorothy Wu
Director
Marketing & Communications
Fiserv, Inc.
852 3746 6847
dorothy.wu@fiserv.com

Dorothy Xu
Senior Manager
Public Relations
ZA Bank
852 6737 2153
dorothy.xu@za.group