Ping An OneConnect Bank
Ping An Digital Bank is a Hong Kong virtual bank, licensed by the HKMA and part of Ping An Group, serving retail consumers and SMEs via a mobile-first platform that integrates deposits, payments, FX, investment trading, SME lending, and insurance distribution.
- Company typePrivate
- Founded2018
- HeadquartersHong Kong, Hong Kong SAR China
- Headcount51–100
- GTM typeB2B and B2C
- OfferingServices
What Ping An OneConnect Bank does
Ping An OneConnect Bank, legally Ping An Digital Bank (International) Limited and recently rebranded to Ping An Digital Bank, is one of eight HKMA-licensed virtual banks in Hong Kong and operates as a subsidiary of Ping An Group, with Lufax Holding as a key affiliated shareholder. Founded in 2018, the bank runs a digital-only, mobile-first platform serving two primary segments: retail consumers and small-to-medium enterprises in Hong Kong. Its core technology stack is built around AI and data capabilities applied to onboarding, risk management, regulatory compliance, and cross-sector data flow, enabling account opening in as fast as three minutes with no minimum balance requirement and full 24x7 banking capability in a single application.
The product surface spans deposits, local and cross-border transfers, FX, time deposits, an integrated investment platform offering HK and US stocks, funds, and money market funds with 16-hour US stock trading, and a bundled insurance suite covering life, savings, motor, home, and travel products. For SMEs, the bank provides business banking services, business instalment loans, secured loans, revolving loans, short-term loans, eFast loans, the government-backed SME Financing Guarantee Scheme, Trade-Connect instalment loans, and cross-border e-commerce revolving loans. Distribution is exclusively digital through iOS and Android apps and the corporate website, with no physical branches. Marketing relies on content, organic social (LinkedIn, Facebook, YouTube), app store presence, and industry events.
The revenue model is multi-stream: net interest income from deposits and the diversified SME lending book, insurance distribution commissions, investment product distribution fees, and transaction and FX fees from local and cross-border payments. The bank monetizes the integration of banking and insurance within a single platform, supported by Ping An Group's distribution network and brand credibility. Recent capital infusions from Lufax totaling HKD700 million since 2025 funded rapid asset expansion — total assets more than doubled year-on-year by November 2025 — alongside new insurance product rollouts and participation in the 2026 World Internet Conference Asia-Pacific Summit in Hong Kong. The bank has won six regional industry awards in 2024, primarily for SME banking and virtual banking excellence.
Ping An OneConnect Bank firmographics
Firmographics- Name
- Ping An OneConnect Bank
- Legal name
- Ping An Digital Bank (International) Limited
- Website
- https://paob.com.hk
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Ping An Digital Bank is a Hong Kong virtual bank, licensed by the HKMA and part of Ping An Group, serving retail consumers and SMEs via a mobile-first platform that integrates deposits, payments, FX, investment trading, SME lending, and insurance distribution.
- Ownership category
- akta.pro rank
Ping An OneConnect Bank industry classification
Industry- Product category
- Digital Banking
- NAICS
- Depository Credit Intermediation (5221)
- SIC
- National Commercial Banks (6021)
- akta.pro primary industry
- Digital Retail Banking (Online & Mobile) (FSABAAAF)
- akta.pro secondary industry
- Digital Wallets & Account Aggregation Hub (Multi-account, Stored Value) (FSAGAAAD)
Keywords
Where Ping An OneConnect Bank is headquartered
LocationHeadquarters
- HQ city
- Hong Kong
- HQ country
- Hong Kong SAR China
- HQ region
- Asia
Offices1 record
Markets served
Ping An OneConnect Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Net Interest Income: Interest income from deposits and lending products including SME loans, business instalment loans, secured loans, revolving loans, and trade-connect instalment loans
- Insurance Distribution Commissions: Commission revenue from distributing life insurance, savings insurance, motor insurance, home insurance, and travel insurance products
- Investment Product Distribution: Fees from distributing investment products including stocks (HK and US), funds, and money market funds
- Transaction and FX Fees: Fees from local transfers, cross-border remittance, and currency exchange services
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Retail Banking - No minimum balance required |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels6 records
Ping An OneConnect Bank product offering
Product offeringCore offering
Ping An Digital Bank is a Hong Kong-licensed virtual bank that delivers retail and SME banking entirely through mobile and online channels. Its core offering spans deposits, local and cross-border transfers, currency exchange, investment products (HK and US stocks, funds, money market funds), life and general insurance distribution, and a suite of SME and trade loans, all accessible through a single integrated app with 3-minute account opening and no minimum balance requirement.
Product overview
Ping An Digital Bank is a digital banking platform operating as part of Ping An Group, offering integrated financial services through two main channels: Retail Banking (deposits, investments including stocks/funds/money market funds, and insurance products including life and general insurance) and Business Banking (SME loans, trade loans, and cross-border services). The platform operates as a unified digital banking service accessible via mobile applications, with core capabilities spanning account management, transfers, remittances, currency exchange, investment trading, and insurance distribution. The bank positions itself as an integrated financial ecosystem combining banking and insurance services.
Differentiator
Problem solved
Functional benefit
Products and services
- Retail Digital Banking Digital retail banking platform for Hong Kong individual consumers and visitors offering deposits, time deposits, local transfers, cross-border remittance, and currency exchange via a mobile app with account opening available in as fast as 3 minutes and no minimum balance requirement.
- Business/SME Digital Banking Digital business banking platform for Hong Kong small and medium enterprises offering business accounts, cross-border remittance, currency exchange, and access to the bank's SME and trade lending products via the PAOB SME mobile app.
- SME Loans Lending products for Hong Kong SMEs covering instalment, secured, revolving, short-term, and digitally fast-tracked (eFast) loans, plus participation in the government-backed SME Financing Guarantee Scheme to support working capital and growth financing.
- Trade Loans Trade and cross-border e-commerce financing products for businesses, including the Trade-Connect Instalment Loan and a revolving credit facility designed specifically for cross-border e-commerce operations.
- Investment Services Investment platform for retail customers providing access to HK stocks, US stocks, mutual funds, and money market funds, enabling users to switch between investments and deposits with daily 16-hour US stock trading and advanced analytics.
- Life Insurance Life and savings insurance products distributed through Ping An Digital Bank's integrated mobile app, with one-to-one tailored advisory for wealth and legacy planning.
- General Insurance General insurance products distributed through the digital platform, covering motor, home, and travel insurance for retail customers.
Quantifiable outcome
- Account opening in as fast as 3 minutes
- +1 more outcomes
Companies that use Ping An OneConnect Bank
Customer profileSegments2 records
Ideal customer profiles2 records
Ping An OneConnect Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Ping An OneConnect Bank partnerships and signals
Strategic signalScale indicators4 records
Recent moves6 records
Expansion highlights6 records
Ping An OneConnect Bank competitors and assessment
Company assessmentMarket position
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Ping An OneConnect Bank social profiles
Digital presencePing An OneConnect Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Ping An OneConnect Bank leadership team
Management profileNumber of profiles
Profiles1 record
Ping An OneConnect Bank funding detail
Funding detailFunding overview
Funding rounds2 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Ping An OneConnect Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Ping An OneConnect Bank
What does Ping An OneConnect Bank do?
Ping An Digital Bank is a Hong Kong-licensed virtual bank that delivers retail and SME banking entirely through mobile and online channels. Its core offering spans deposits, local and cross-border transfers, currency exchange, investment products (HK and US stocks, funds, money market funds), life and general insurance distribution, and a suite of SME and trade loans, all accessible through a single integrated app with 3-minute account opening and no minimum balance requirement.
Is Ping An OneConnect Bank a public or private company?
Ping An OneConnect Bank is a private company. It is classified as corporate owned and is currently operating.
When was Ping An OneConnect Bank founded?
Ping An OneConnect Bank was founded in 2018. It employs 51 to 100 people.
Where is Ping An OneConnect Bank based?
Ping An OneConnect Bank is headquartered in Hong Kong, Hong Kong SAR China, in the Asia region.
How does Ping An OneConnect Bank make money?
Four revenue lines are on record. Net Interest Income is the primary driver. The others are insurance Distribution Commissions, investment Product Distribution and transaction and FX Fees.
Does Ping An OneConnect Bank have an API?
No public API is recorded for Ping An OneConnect Bank.
What industry is Ping An OneConnect Bank in?
Ping An OneConnect Bank's product category is Digital Banking. Its primary akta.pro industry code is FSABAAAF, Digital Retail Banking (Online & Mobile), with a secondary code of FSAGAAAD, Digital Wallets & Account Aggregation Hub (Multi-account, Stored Value). Its NAICS code is 5221 and its SIC code is 6021.