Banking group Bank Of China (Hong Kong), Jingdong Digits Technology Holding, a digital technology company and Jardine Matheson Group, a business conglomerate to form Livi, a virtual banking firm in a $323m deal. "Launching a virtual bank enables us to drive the diversified development of the banking industry and promote financial inclusion using innovative technology. BOCHK has always been attentive to diverse customers’ needs. Livi represents a differentiated development strategy for us to effectively fulfil different banking needs in the market. We are very pleased to join hands with JD Digits and Jardines, two leading companies in the mainland and Hong Kong, to create a brandnew, cross-sector business model of ‘banking + internet + retail’. Together we can better complement our customers’ everyday lives and meet their needs through financial technology. With the strengths of BOCHK (Holdings), JD Digits and Jardines in financial services, risk management, information technology, sales and customer management, we believe that Livi will create a unique business model. This will bring to Hong Kong an all-new banking experience and foster the development of smart banking in the city,” Gao Yingxin, BOCHK Vice Chairman and CEO.