Hong Kong, 6 February 2025 — ZA Bank, Hong Kong’s first and largest digital bank, today announced a new collaboration with TransUnion in Hong Kong to offer the TransUnion Credit Alert Service, making it the first bank in the city to provide this service completely free to retail users. While TransUnion’s Credit Alert Service has long been available in Hong Kong, this partnership enables ZA Bank users to access the service with comprehensive features at no cost through the ZA Bank App.
Research launched in December 2024 by TransUnion reveals that nearly half (44%) of the surveyed consumers in Hong Kong were targeted by fraud through online, email, phone call or text message channels in the last three months2. In response, ZA Bank is making the Credit Alert Service accessible to all its users, enhancing value and empowering them to protect themselves from rising fraud risks.
Through this service, users will receive instant alerts via the ZA Bank App that notify them of critical changes to their credit report, including:
- New credit report enquiries (loan/credit card applications)3
- New credit accounts opened under their name
- Changes to addresses or phone numbers
Devon Sin, Alternate Chief Executive of ZA Bank, said: “ZA Bank is proud to be the first bank in Hong Kong to offer the comprehensive TransUnion Credit Alert Service for free, removing the cost barrier for a vital fraud protection tool. This partnership with TransUnion reflects our commitment to leveraging innovation to protect our users’ financial well-being, especially as digital fraud continues to rise in Hong Kong. By integrating this feature into our app, we are not only enhancing security but also promoting financial inclusion to ensure more people have access to tools that safeguard their finances.”
Wingo Wong, Managing Director of TransUnion Credit Information Services Limited in Hong Kong, said: “For years, TransUnion has been at the forefront of fraud protection, pioneering efforts to enable individuals to identify risks earlier and minimise potential losses. As digital fraud continues to rise in Hong Kong, we are delighted to partner with ZA Bank to expand our Credit Alert Service to its users. This partnership underscores the importance of collaboration between businesses and consumers in combating this escalating threat. Together, we are committed to empowering Hong Kong consumers in the fight against fraud in an increasingly digital world.”
About ZA Bank
ZA Bank, licensed by the Hong Kong Monetary Authority in 2019, is Hong Kong’s first and largest digital bank. With more than 800,000 users as of 30 June 2024, it leads the city’s digital banking sector in customer base and deposits. ZA Bank’s “Community-Driven” approach actively involves users in product development, resulting in tailored financial services for individuals, SMEs, and Web3 enterprises. The bank offers a comprehensive range of services including banking, investment, insurance, and business solutions. Recognised as “Virtual Bank of the Year – Consumer (Hong Kong)” by The Asset and “Hong Kong: Rising Star” by Euromoney, ZA Bank continues to innovate in Hong Kong’s financial landscape. It operates as a subsidiary of ZA Global, established in 2017, to explore global fintech and insurtech opportunities. For more information, visit https://bank.za.group.
About TransUnion
TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries and territories, including Hong Kong. As Hong Kong’s leading consumer credit information company, we make trust possible by ensuring each person is reliably represented in the marketplace. We do this by providing an actionable view of consumers, stewarded with care.
Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.
