WeLab Bank is one of the first virtual banks licensed by the Hong Kong Monetary Authority (HKMA), having received its license in April 2019 and officially launching in July 2020. Backed by the fintech company WeLab, the bank's mission is to reinvent the financial services experience through technology, providing customers with innovative, intelligent, and user-friendly digital banking solutions. It offers a range of services including savings accounts, time deposits, personal loans, and a numberless Debit Card, all managed entirely through its mobile application.