Ignites Asia, a Financial Times service, reported that Allianz Global Investors and Hong Kong-based WeLab Bank debuted what it touts as the territory’s first virtual bank authorised to pitch digital wealth advisory services. The bank soft-launched the GoWealth Digital Wealth Advisory to a few customers and will follow-up with a public rollout in the near future.

“The momentum of saving and investment is significantly affected by the achievability of the financial goals,” Philip Tso, Hong Kong-based Head of Institutional Business for Asia Pacific at AllianzGI, says in a statement. “People should take a goal-based approach, breaking down a big goal into several smaller, easier goals. With persistence, everyone can build up a powerful habit of saving and investment, and achieve bigger goals step by step,” he adds.

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