Many times we have heard of Xiaomi and finance. The first time that caused a lot of hype was when the brand decided to listed on the Hong Kong stock exchange in July 2018. After ups and downs it seems that, at least for now, the company is stable in terms of finances so much that it has decided after several years of establish his first bank. You got it right, a lender all his own. To be precise it is not only his but was created with the support of the AMTD group, always leader in the sector being thereAsia's largest independent company that deals with consultancy and corporate finance.
Xiaomi creates its first bank: a credit institution that is really on the consumer side
According to what the company itself said, the idea of creating a credit institution was born back in July 2018 when Xiaomi decided to go public on the Hong Kong stock exchange. We later saw how this service has taken root in India (service always "offered" by the brand) and perhaps this success has given way to the procedures to build it on a larger scale.
As well as for its products, the philosophy adopted by the Airstar group is that of Xiaomi: "Everyone's bank". In the image above you can see all the participants in the opening ceremony proudly showing slogans that read "Financial innovation for everyone"and "We are ready". In fact today, March 31, 2020, the dance was started for this new service that sees the head of everything nothing poo less than Lei Jun: Xiaomi's CEO appears as a chiarman (and therefore head) of the financial institution.
The peculiarity of this bank, unlike many in the country, is that of being a completely virtual institution. However, the start of today's business should not be confused for what it is not: in fact not everyone can apply for a loan, for now, at Xiaomi's Airstar. What was born today is a "pilot project”Conducted within the Fintech Supervisory Sandbox (" FSS ") of the Hong Kong Monetary Authority (" HKMA ").
Airstar Bank is the first bank of Xiaomi: financial innovation for everyone
This pilot project will offer - at first - virtual banking services to selected Hong Kong customers and will serve as a precursor to Airstar's launch of full banking services to the general public. During the trial period Airstar will offer the service to approx 2.000 customers (friends and families of the staff of Airstar, Xiaomi and AMTD Group) to collect feedback in order to design their banking service without too many problems. We do not go into technical speeches that compete with us, but we know that i services that Xiaomi's bank offers are basically two.
Let's conclude with what the Airstar Bank spokesman said:
"Airstar is committed to embracing inclusion and promotes" financial innovation for all ". We truly believe that Airstar will make a valuable contribution to the banking sector in Hong Kong and become the "Bank of All". "
Source | Airstar Bank
Through | fintechnews
