Building Mox: Scaling a Next-Gen Bank for Hong Kong
In one of the world’s most competitive financial markets, Mox set out to build something different, a digital-first bank with no branches, no queues and no legacy constraints.
With more than 20 million card transactions processed in 2022 and deposits reaching HKD 8.4 billion, Mox has become one of Hong Kong’s leading virtual banks, topping app store ratings and setting a new standard for mobile banking in the region.
Banking built for a new kind of customer
From the start, Mox understood its customers wanted more than just convenience. They expected clarity, control and the ability to manage their money without delays or barriers. The Mox app delivers on those expectations with smart tools to move money instantly, earn rewards everyday and keep track of spending in real-time.
What appears simple on the surface is powered by a strong foundation, which includes infrastructure built for always-on availability, real-time decisioning and secure, scalable card issuing.
“When we were looking to launch our bank in Hong Kong, Paymentology was our first choice for payment solutions. Their platform integrated into our architecture with speed and flexibility, and the team’s support was just as strong.”
— Andrew Farmer, CIO, Mox
The all-in-one card: flexible, secure, instant
At the centre of the Mox experience is a card that rewrites the rules. The Mox Card was the first globally to let customers switch between debit and credit on a single physical card, instantly and without friction.
For added security, the card has no visible number, CVV, or expiry date. So, whether tapping to pay, withdrawing cash at more than 2,000 JETCO ATMs in Hong Kong or using 2.6 million Mastercard compatible ATMs worldwide, Mox customers get seamless access, wherever they are.
Scaling with speed, without compromise
Before Mox even launched, over 20,000 customers had pre-registered and growth hasn’t slowed. In just one year, deposits rose by 56% and card transactions doubled, this is proof of strong demand and stronger execution.
Meeting that demand required a platform built for scale. Real-time transaction data now powers everything from fraud prevention to personalised engagement, giving Mox the speed, visibility and control to grow without missing a beat.
“Strategically, culturally and from an execution perspective, the fit has been strong from the start. That partnership has proven itself time and time again as we’ve scaled and will continue as we expand into new markets.”— Andrew Farmer, CIO, Mox
What’s next in the series
This is the fourth article in our six-part blog series on selecting the right issuer processor for long-term growth.
If you missed the earlier posts, catch up here:
Outgrowing Legacy: Why It’s Time to Rethink Your Issuer Processor
What to Look for in a Future-Ready Issuer Processor
Scaling Securely Starts with the Right Issuer Processor
→ Download our guide, Selecting a Next-Generation Issuing Platform, to learn how the right processor can support your strategy for scale.
Next, we look at the hidden cost of the wrong processor and why short-term savings can come at the expense of long-term growth, control, and visibility.
