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WeLab Bank aims for the stars

Visitors take photos of an Ironman exhibit at the Singapore Toy, Game and Comic Convention
Photo: Reuters

Within two years, virtual bank WeLab has quickly found its place in Hong Kong. But its chief executive says this is just the beginning of an ambitious plan to expand its foothold in Asia.


In the Iron Man series of superhero movies, actor Robert Downey Jr plays the role of Tony Stark, a billionaire industrialist and inventor who creates a powered armour suit. It is this suit, fitted with an electromagnet, that transforms Stark into Iron Man, the superhero who can save the world from various crises.

But another, equally important character lies behind the story of the suit: Jarvis (which stands for ‘just a rather very intelligent system’) is a sophisticated artificial intelligence system created by Stark. Jarvis serves as an assistant to take care of all the Iron Man suits and Stark’s internal controls in his buildings, while offering Stark any and all of the information he requires – sometimes before he even asks for it.

Tat Lee, chief executive of Hong Kong virtual bank WeLab, says he wants his bank to be like Jarvis – capable of pre-empting and advising on all fronts.

“We want to build a personalized, intelligent bank for you,” Lee tells Asiamoney.

“In the Iron Man movies, Jarvis is the one who analyzes all the fixes for Iron Man, who will suggest the best way to do things.

"Just like that, we want to create a completely different banking model.


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Rashmi Kumar has been Asiamoney editor since April 2021, having been a regular contributor covering Asia's markets before that. Based in Singapore, she is also the Asia editor of GlobalCapital, a sister publication.
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