[Tortola, British Virgin Islands, 11 Oct 2019] Bank of Asia (BVI) Limited (the "Bank"), one of the world’s first fully digital global cross-border banks and the first bank in the British Virgin Islands ("BVI") licensed after more than two decades, has commenced operations in September 2019.
Unlike traditional banks, Bank of Asia enables customers to complete account application procedures online through its portal www.bankasia.com, in a "self-directed" or "agent-assisted" fashion by following user-friendly instructions, including upload of certified documents with their desktop or mobile devices.
Once the account is open, customers can receive banking services online, such as transfer, remittance and forex transactions, and manage their funds easily and safely on the Bank’s digital platform anywhere anytime.
As a digital bank, Bank of Asia has built its platform with the latest and proven technologies that can reduce transaction time and cost, all of which translate to savings that will be passed onto customers.
Bank of Asia places great emphasis on robust Know-Your-Customer ("KYC") and Anti-Money Laundering ("AML") processes, to ensure that only appropriate customers are onboarded, and only legitimate transactions are handled by the Bank.
Bank of Asia is now actively on-boarding clients. Commenting, the Bank’s Chairman and Founder, Mr. Carson Wen, BBS, JP, said: "Digital banking is now the norm and FinTech is the way forward. The British Virgin Islands, which is the world’s leading offshore jurisdiction, is home to Bank of Asia. We are proud to be the first bank to be licensed by the BVI in more than two decades, and we are offering smart financial and lifestyle products and services to customers globally, with a team of seasoned bankers and professionals empowered by innovative technologies."
The Bank is now focusing on providing various types of deposits (saving and operating accounts, time deposits) as well as payment and remittance services in USD, EUR, HKD and RMB. The Bank expects to introduce prepaid cards, debit cards and lifestyle services in the next phases.
Through its close business partners, BOA International Securities Ltd. ("BOAIS"), BOA MS Capital Limited and BOA Global Asset Management Limited, all of which are licensed by the Securities and Futures Commission of Hong Kong, the Bank’s customers can enjoy a comprehensive range of brokerage, advisory, investment, asset management, corporate finance and wealth management services, including securities in major markets, bonds, funds and unit trusts, as well as other investment products.