Mox Bank Capitalizes on Market Bull Run: Expands into Insurance and Wealth Management, Securing 10% of City’s Adult Population

Digital banking platform Mox Bank broadens its insurance and wealth management offerings during a bullish market period. The bank without physical branches has garnered 620,000 clients, which equates to 10 percent of the city's adult inhabitants.

Mox Bank, a digital banking institution based in Hong Kong, plans to broaden its wealth management and insurance services. The bank's chief executive officer states this move is to seize new prospects generated by the current bullish market trend and relaxation of interest rates.

"Having built a solid clientele and fundamental deposit offerings, the logical progression is to broaden our operations to include wealth management services," stated Mox CEO Barbaros Uygun. He further emphasized that the bank will not follow conventional methods in doing so.

"Our aim is to pioneer advancements in this field to simplify the process and offer customers greater authority in handling their investment portfolio in a more clear-cut manner."

Mox plans to provide insurance products for its partners starting next year, along with increasing its range of fund products available to customers, he announced.