Pioneering innovation as a founding member of Hong Kong’s first virtual bank – Sim’s story


Sim Suen joined Standard Chartered Hong Kong’s compliance team in 2012 after establishing her career in Hong Kong’s abundant international market. With a wealth of experience in compliance in Asia, in 2019 Sim took on an exciting opportunity to lead the implementation of the regulatory framework and processes at Mox Bank. As a brand new virtual bank, Mox is a piloting initiative that brings the next generation of banking to Hong Kong. Sim explains how establishing her career in Hong Kong has enabled her to be at the forefront of fintech in a booming economy with plentiful opportunities including being one of the founding members of Hong Kong’s first virtual bank.

Hong Kong’s hotbed of opportunities

I joined Mox Bank around a year before it launched publicly, granting me a unique opportunity to be a part of building a virtual bank from ground zero. Before connecting with Mox, I was given another opportunity to relocate overseas. Still, I chose to stay in Hong Kong to take advantage of the piloting initiatives and innovative projects created by the fast-growing market. Remaining in Hong Kong has allowed me to seize opportunities to grow and expand my knowledge whilst building an international career in an environment rich with culture and diversity. At Mox, I get to utilise my experience in the industry to develop new ways of working and play an integral role in the creation of the platform. Opportunities to make such a substantial impact are rare, but the hotbed of investment in Hong Kong has made it possible to drive meaningful change as a pioneer of innovation.

Creating new products under Hong Kong’s innovative climate

As the Lead of Regulatory Compliance at Mox, I worked closely with senior management to establish the compliance function and set up the key processes and policies to ensure we adhere to industry regulations. It has been incredibly fulfilling to be a driving force in the creation of Mox, but the satisfaction did not stop after Mox was publically launched - Hong Kong’s innovative climate has supported me to continue developing new products and processes whilst working with an abundance of passionate professionals who want to make a difference in the banking industry. Since the launch of Mox, I have worked on establishing an entity licence for a new product that will be the first on the market. It has been incredibly insightful to follow the application process from its inception, as I have seen how various teams within the business collaborate to bring everything together.

Promoting wellness and belonging to my team

The talent pool at Mox is made up of trailblazing individuals committed to modernising the banking sector. Celebrating diversity is at the heart of Mox’s culture and we are empowered by senior leadership to drive positive change in the lives of both our colleagues and customers. Because of my passion for mindfulness and how its benefits can change people’s lives, management encouraged me to share my passion and supported me to host mindfulness sessions for my colleagues. It has been truly satisfying to bring my colleagues together by promoting belonging and wellness. I was especially able to see the fruits of my efforts during the pandemic, where I was able to bring my colleagues together through virtual mindfulness sessions.

Driving positive change in the ways of working

Being a part of piloting initiatives such as Mox has allowed me to redefine what working in compliance means. Most people may not view compliance as the most exciting department in the Bank, but I took it upon myself to make compliance fun and do things differently. I consciously make an effort to embed fun elements into compliance training and I am grateful to work for an organisation that gives me the freedom to intertwine my personality with my role. Mox values every individual's unique personality and supports us to shine within our roles. My manager made a considerable effort to garner a strong team spirit and we all feel supported to be ourselves unapologetically. I am very blessed to be a part of such an amazing team.

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