Case Study: Mox Bank Limited builds a cloud-native virtual bank with GFT

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

Mox Bank Limited, a virtual bank backed by Standard Chartered, aimed to disrupt the Hong Kong banking market by building a new, mobile-only bank from the ground up to serve millennials. Their challenge was to revolutionize personal banking with a cloud-based solution that prioritized fast delivery, security, and stability. They chose GFT as their strategic technology partner to implement this vision using Thought Machine's "Vault" core banking platform on AWS.

GFT built the entire cloud-native technology stack using Agile methods and DevOps, delivering the new bank in just 18 months. The solution leveraged artificial intelligence for compliance personalization and provided strong security features like biometric login. As a result, Mox quickly 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