Bank BasicsFusion
Bank is a licensed virtual bank in Hong Kong, >0700.HK by Tencent Holdings (Co-founded with a local financial institution in Hong Kong, Fusion Bank was initially licensed on 9 May 2019 under the name Infinium Limited and subsequently renamed Fusion Bank. While the actual operational commencement date is December 28, 2020, the date of establishment usually refers to the date of obtaining the license, not the date of commencement of operations. As an important part of Tencent's financial ecosystem, the bank relies on Tencent's technological strength and financial resources to focus on providing purely digital banking services. Headquartered in Hong Kong, its major shareholders include Tencent, listed companies on the Hong Kong Stock Exchange and a number of international investment institutions, with strong capital and technical support.
Scope
of ServicesFusion Bank's service scope focuses on the Hong Kong market, adopts a pure online operation model, does not have a physical branch, but supports free cash withdrawal through ATMs in Hong Kong through the JETCO network. Its target users include young consumers, small and medium-sized enterprises (SMEs) and those seeking efficient financial services, and are committed to providing a seamless digital banking experience.
Regulation & ComplianceFusion
Bank is strictly regulated by the Hong Kong Monetary Authority (HKMA) and adheres to all the compliance requirements of the Banking Ordinance. Clients' deposits are protected by the Hong Kong Deposit Protection Scheme (DPS) and each depositor is protected up to HK$500,000. Since its inception, the bank has not had any major compliance issues and has demonstrated sound operational capabilities.
Financial HealthAs
a virtual bank backed by Tencent's ecosystem, Fusion Bank's capital adequacy ratio meets regulatory requirements, and its non-performing loan ratio remains at a low level in the industry. Relying on Tencent's fintech resources, its liquidity management performance is stable, which is suitable for users who pay attention to security and innovation.
Deposit & Loan ProductsFusion
Bank offers flexible deposit products, including the high-interest current account "Fusion Save", which has an increasing interest rate with the deposit amount and can be accessed at any time. Time deposit options range from short-term to medium-to-long-term with competitive interest rates. In terms of loans, the bank provides personal credit and SME loans, and the approval process is fully online, and the loan can be disbursed in real time at the earliest, with transparent interest rates and no hidden fees.
List of common feesFusion Bank focuses on a low-fee strategy, eliminating account management fees, local transfer fees, and Hong Kong ATM withdrawal fees. Cross-border remittances are charged according to market standards, but they are more competitive than traditional banks. Users should be aware of the interest that may accrue on the overdraft, and the overall fee structure is clear and transparent.
Digital Service ExperienceFusion
Bank's mobile app has a score of over 4.4 out of 5 on the App Store and Google Play in Hong Kong, with core features including facial recognition login, real-time inter-bank transfer, smart bill categorization and consumption trend analysis. Its technical highlight is the integration of Tencent's AI and big data capabilities, providing personalized financial advice, and may further open up the API ecosystem in the future.
Customer Service QualityWith
24/7 live chat, live chat, and email support, Fusion Bank's customer response efficiency is high, with an average processing time of 1 business day. The main languages of the service are Cantonese, English and Mandarin, and other languages have not been expanded yet.
Security MeasuresIn
addition to the Hong Kong Deposit Protection Scheme, Fusion Bank uses Tencent Cloud's security technology, and all transactions are monitored by a real-time risk control system. Although the specific certification information has not been disclosed, its technical partner, Tencent, has mature experience in the field of financial data security.
Featured Services and DifferentiationFusion
Bank launched the "Fusion Pay" function, which supports seamless integration with WeChat Pay (Hong Kong) to facilitate users' daily consumption. For small and medium-sized enterprises, it provides quick account opening and cash flow management tools, reflecting its scenario-based service advantages.
Market Position and HonorAs
a Tencent-based virtual bank, Fusion Bank cannot compete with traditional banks in scale, but its innovative services have attracted industry attention and have been selected as the "Most Promising Digital Bank" by Fintech Asia in 2023. Relying on Tencent's ecosystem, it has significant potential for future development.
