Case Study: Mox Bank achieves faster, cloud-native mobile banking with GFT Technologies

Mox Bank Limited launches cloud-native virtual banking in 18 months with GFT Technologies

Mox Bank Limited, a virtual bank backed by Standard Chartered, aimed to disrupt Hong Kong's personal banking market by building a new, mobile-only bank from the ground up. Their challenge was to rapidly launch a secure and stable cloud-based platform that would serve the needs of millennials and other customers demanding a digital-first experience. They chose GFT Technologies as their strategic technology partner to implement this project on AWS cloud using Thought Machine's "Vault" core banking platform.

GFT Technologies built the entire technology stack in just 18 months using Agile methods and DevOps. The solution leveraged artificial intelligence for compliance personalization, a real-time data catalogue, and advanced security features like biometric login. As a result, Mox acquired over 400,000 customers, became the first virtual bank in Hong Kong to support both Apple Pay and Google Pay, and saw HKD 2 billion spent on its cards within 12 months.

Mox Bank Limited