Hong Kong virtual bank, WeLab Bank, has selected Solace as a core component of its technology architecture to establish multi-cloud vendor communication. Using Solace PubSub+, WeLab Bank will run its entire infrastructure on multiple clouds to ensure customer information is well protected and secured. Through this partnership, the bank can also continue to deliver innovative and game-changing financial service products to all customers.
Kenneth Chau, Chief Technology Officer at WeLab Bank, said: “Solace provides us with the scalability necessary to support our vision to become a leading virtual bank in the region. Through a microservices architecture, WeLab 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.”
WeLab Bank Limited is a homegrown virtual bank licensed by the Hong Kong Monetary Authority. Founded by a team of financial and technology experts, WeLab Bank’s mission is to understand customers’ needs and design a personalized, full-service banking experience that helps them manage and grow their money. This seven-year-old fintech company is one of the first virtual banks established in Hong Kong and now operates in three markets — Hong Kong, mainland China and Indonesia. It provides its 45 million individual users and 300 enterprise customers with 100% digital banking.
Solace’s technology helps WeLab Bank connect its key backend systems, including Temenos Cloud Core Banking and Fast Payment, to enable event-driven microservices critical for real-time data flow. This allows WeLab Bank to respond to critical business events in an active and efficient manner, providing customers with a seamless, virtual banking experience.
“Solace is proud to be a part of Hong Kong’s digital banking revolution by working with WeLab Bank to bring a next-generation banking experience to fruition,” said Sumeet Puri, Chief Technology Solutions Officer at Solace. “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.”