About
Launched in Hong Kong in September 2020, Mox is a virtual bank backed by Standard Chartered, in partnership with HKT, PCCW and Trip.com. We are the combined power of a well-trusted international banking group, the city’s telecom and lifestyle leader as well as Asia’s largest online travel agency. Mox delivers a suite of retail banking services and lifestyle benefits all in one place, growing your money, your world and your possibilities.
Innovation presentation
Mox is among the first batch of banks to obtain the virtual banking license from Hong Kong Monetary Authority in March 2019. We have built a new bank from scratch – delivering a whole new, digital and personalized experience to empower our customers. Our logo is inspired by the round shape of a Hong Kong dollar coin, which is also a nod to our roots. We take pride in being one of Hong Kong’s newest virtual banks, complementing Standard Chartered’s heritage of being Hong Kong’s oldest note-issuing bank with over 160 years of experience in serving the community.
Uniqueness of the project
At Mox, we have always put our customers first and are striving to provide a best customer experience. They have always been at the top of our mind.
As one of the first virtual banks in Hong Kong, we have a focus on enhancing customer interactions through digital engagement, through means such as no paperwork required for opening a bank account and no need to waiting at a branch to access to banking services. We started everything with an ethnographic research in Hong Kong. With this research, we aimed to understand customer behavior in a wider perspective but not just their financial life. Even the product team, our CEO and some of the Board members were on the ground themselves, participating in some of the customer interviews.
Following that we narrow down our focus to understand the problems, painpoints and unmet needs that Hong Kong customers face every day. We conducted jobs-to-be-done research. Supporting it with both qualitative and quantitative research, we have defined over 87 jobs-to-be-done in the market. We developed our value proposition and product/service offerings on top of the customer insights. During the brand building phase, we listened to what customers want and researched what’s missing in banking. We spoke with over 2,000 people and they told us they want new and better experiences.
Our bank is living with the customers, every single screen or a new feature that we are going to roll out are being tested with customers and optimised based on their feedback.
As a result, not only have we scored a good number of market firsts. Our customers have also loved our App and product offerings. The bank has been receiving very positive ratings from App Stores as well as feedback from customers.
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