Case Study: Mox Bank achieves rapid growth—160,000 customers and sub-3-minute onboarding with Ping Identity

Mox Bank Achieves Nearly 160K Customers in Just Under a Year

Mox Bank is a Hong Kong-based virtual bank launched during the COVID-19 pandemic with a mission to win “heart share” by combining retail banking with lifestyle services. Facing more than 100 incumbent banks and having identified 80+ customer pain points across onboarding, payments and channels, Mox needed a cloud-native, service-oriented platform that could deliver seamless KYC/onboarding, robust identity lifecycle management, and rapid scalability.

Mox implemented a cloud-first architecture on AWS and an identity platform (ForgeRock) to deliver policy-driven consent, smooth onboarding and secure cross-app access, while partnering with HKT, PCCW and Trip.com to extend lifestyle services. The result: nearly 160,000 customers in under a year (over 3% of Hong Kong’s bankable population), about HKD5.6 billion (~USD700M) in deposits, millions of card transactions, average onboarding well under its KPI and an architecture that scales and is largely portable for future market expansion.

Mox Bank

Deniz Güven

Chief Executive Officer