Zero Fintech Group has announced a strategic financing deal with Standard Chartered Bank (Hong Kong) Limited to enhance AI financing solutions for X Wallet.
In 2024, registered users of the X Wallet App have seen an uplift of 209% year-on-year, with monthly active users growing by 224%. This collaboration includes a funding limit of up to HKD800 million from Standard Chartered to support the Group’s asset and business growth.
This partnership is a pivotal move for Zero Fintech Group as it seeks to leverage the proprietary AI technology of X Wallet to drive efficiency and innovation within the financial sector. With Standard Chartered’s funding support, X Wallet will enhance its capabilities to provide users with streamlined, cost-effective financial solutions tailored to their needs.
X Wallet is a fintech mobile app developed by Zero Fintech Group in 2018. As the first AI-powered digital lending app in Hong Kong, X Wallet combines advanced lending features with a seamless Buy Now, Pay Later (BNPL) payment solution.
Zero Fintech Group’s flagship product X Cash.AI delivers a fully automated lending experience, approving loans within 5 seconds without any need for human intervention. This breakthrough innovation redefines traditional lending and payment methods, offering users a faster and more efficient financial experience
Carlos Chau, Executive Director, Zero Fintech Group, said: “We are excited to join forces with Standard Chartered to elevate X Wallet’s offerings. This funding support not only fuels our technological advancements but also allows us to focus on building a robust financial ecosystem that prioritizes cost efficiency and user-centric solutions.”
The funding support by Standard Chartered will also facilitate the creation of a comprehensive financial ecosystem in X Wallet, integrating various fintech services to provide users with seamless access to a wide range of financial products from lending to payment. This holistic approach aims to redefine customer experience and empower users in their financial journeys.
