WeLab Bank today announced the launch of Hong Kong’s first AI-powered foreign exchange (FX) service, designed to provide customers with the best FX rates in Hong Kong. This new offering features a “Best Rate Guarantee”, to demonstrate our strong commitment to cost-price FX with no hidden fees. FX market is often characterised by opaque pricing and hidden fees. WeLab Bank is disrupting the status quo by bringing unprecedented transparency and value to customers, with a simple and impactful principle: By leveraging our efficient AI-first operating model, we are able to transfer significant cost savings directly to our customers. This core principle underpins WeLab Bank’s ability to offer the most competitive FX rates in town, ensuring customers benefit from every transaction. Key highlights of WeLab Bank’s FX service Widest FX currency pairs among digital banks in HK: WeLab Bank offers 11 currency options today, including RMB, USD, GBP and JPY Best FX rates in town: With our efficient AI-first operations, customers can exchange foreign currencies at the bank’s cost price (0% mark-up) with no other hidden fees ($0 fee) Best rate guarantee offer: WeLab Bank will match and refund the difference in the event our customers find a better FX rate from other banks within five minutes after making an eligible FX transaction at WeLab Bank $0 WeLab handling fees for all global remittance until 31 December 20255 Revolutionising FX through AI WeLab Bank is revolutionising the FX experience with cutting-edge fintech innovation. The AI-powered rate comparison engine compares FX rates from major banks across Hong Kong. The WeLab Bank app provides 24/7 instant calculations of the savings achieved through its competitive rates, helping customers save more effortlessly. Looking ahead, together with our AI-first strategic partner, Google, WeLab Bank plans to develop AI agents that its customers can directly engage with for instantaneous, personalised financial insight and recommendations, democratising access to high-quality financial research that was once limited to institutional and professional investors. Tat Lee, chief executive of WeLab Bank, said, “As an AI-first digital bank, WeLab Bank is committed to redefining digital banking by leveraging generative AI and AI agents to deliver hyper-personalised customer experiences. Our mission is to empower customers to manage, save and grow their wealth seamlessly. We are proud to be the first digital bank in Hong Kong to transform traditional currency exchange services by leveraging AI, enabling our customers to seize the most competitive rates anytime, anywhere. By leveraging AI comparison engine, we are also able to pass on cost savings directly to our customers. Looking ahead, we will continue to push the boundaries of innovation by integrating AI Agents into various banking services and collaborating with strategic partners to deliver hyperpersonalised and seamless digital banking experiences. Re-disseminated by The Asian Banker
