Difference between Virtual Banking and Digital Banking

What is Virtual Banking?

Virtual banks (VB) deliver banking services primarily through the internet or other electronic channels without physical branches. Several have already been operating and recruiting in HK, such as WeLab’s 18-month GT rotation program in finance and data, tech, product and growth, risk and operations departments. Opportunities for MT and GT are promising with the launch of more VB!

 

What is Digital Banking?

This refers to banking services made available online by traditional, physical banks; for instance, it stands for ‘Retail Banking and Wealth Management (Digital)’ in HSBC. Although it is managed by one department only, its MT headcount would increase significantly to cope with growing demand for Digital Banking, especially during COVID-19.

We help university students like you to get into Investment Banking, Banking, Property/ Conglomerate and Advisory/ Consulting. Follow us on Instagram (ig: hkcareers) to know insider tips about grad job/ internship hunting. Visit hkcareers.hk to know more about the result-based career coaching program.