The Hong Kong fintech will deploy an event-driven architecture to boost agility and efficiency to serve customers better.

Hong Kong’s homegrown virtual bank, WeLab Bank, offers a 100% digital banking experience that is designed to be simple, intuitive and built around a good customer experience. Its mobile app and numberless debit cards are designed with data security and customer obsession as a necessary mandate.

On 17 Sep, the virtual bank announced a tech partnership to establish multi-cloud platforms in its technology architecture to boost protection and security of its customer information.

The new capability helps the bank connect its key backend systems to enable event-driven microservices critical for real-time data flow, to respond to critical business events in an agile and efficient manner, thereby providing customers with a seamless virtual banking experience.

In addition, having the entire virtual bank infrastructure in the cloud that supports high scalability allows it to bring next-generation digital services to customers 24/7.

Seeking Solace in tech

The core component of the bank’s infrastructural expansion is from event-streaming and management platform Solace. Through the partnership, WeLab Bank can also continue to deliver innovative and game-changing financial service products to all customers.

Said Kenneth Chau, Chief Technology Officer, WeLab Bank, said the cloud solution provides the bank with the scalability necessary to support its vision to become a leading virtual bank in the region. “Through a microservices architecture, the bank can create and deploy innovative products such as GoSave and WeLab Debit Card, one of Asia’s first numberless debit cards. Solace’s secure and scalable messaging backbone has been invaluable in helping WeLab Bank shorten the time-to-market for our current and future digital bank offerings.”

According to Sumeet Puri, Solace’s Chief Technology Solutions Officer: “Financial institutions that wish to differentiate themselves and thrive in the rapidly-evolving financial services sector must seek new ways to leverage real-time data and provide innovative offerings, or they risk being left behind.”