Standard Chartered has unveiled the brand name, brand identity, and website for Mox, its new virtual bank.
Mox’s brand name is meant to reflect the variety of its offerings. These include mobile experience, money experience, money X (as in X as symbolic of multiplication), exponential growth, and exploration. Its logo and visual design have been inspired by the round shape of a Hong Kong dollar coin.
Together with Mastercard, Mox is being pitched as the first bank in Asia to launch an all-in-one numberless bank card. In practice, this means that is a physical card for both spending and making ATM cash withdrawals but without any printed card numbers, expiry dates, or a card verification value. This clean approach is supposed to help reduce the risk of users losing personal information as all card information can be securely accessed in the Mox app. Furthermore, if the card is ever lost, the owner can instantly freeze it in the app.
Deniz Güven, CEO of Mox, said, “Mox operates in a whole new way by listening to customers and focusing on heart share. We aim to empower Hong Kong customers to grow and unlock more possibilities by providing a truly digital and personalised banking experience.”
Created in partnership with PCCW, HKT and Trip.com, the virtual bank launches later this year. It is currently in beta testing by staff members, with more information on the way.