Tencent-backed WeBank Wins Award for Best Digital Bank in the Asia-Pacific

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Tencent-backed digital lender WeBank has been named the Best Digital Bank in the Asia-Pacific for 2020 by leading financial publication The Asian Banker.

WeBank, China’s first privately owned bank as well as its first exclusively online bank, took out a total of three prizes at The Asian Banker Awards for 2020, including the award for the “Best Digital Bank in Asia Pacific,” the “Best Blockchain Initiative, Application or Programme” and “the Best Digital Bank in China.”

2020 marks the second year that WeBank won the Asian Banker award for Best Blockchain Initiative, as well as the second time it was named Best Digital Bank in China.

“In the digital age, the Internet has broadened the scope of possibilities in the banking business,” said Yao Huiya, WeBank head of fintech innovation.

“Embracing the concept of ‘Open Banking’,WeBank will continue to improve its core technological competitiveness and develop the advantages in resources and capability.

“Eventually, we are working to achieve a win-win situation in which industry and finance integrate in a more open ecosystem.”

WeBank was first launched in 2014 as an exclusively online bank, and has since amassed close to 1,100 patent applications after becoming the first commercial bank in China to obtain national high-enterprise enterprise certification.

WeBank bills itself as a leader in core technologies such as artificial intelligence, blockchain technology, cloud computing and big data, using innovations in this area to launch a series of financial inclusion products that focus on individual customers and smaller businesses in China.

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