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PAObank and China Ping An Insurance (Hong Kong) Launch Strategic Partnership, Bringing Integrated Banking and Insurance Solutions, Shaping a Digital Bank with Insurance DNA

Published

3 months ago

15/09/2025

PAObank 5th Anniversary Treasure Reward UNLOCK High-Interest Time Deposit and Travel Insurance All in One

HONG KONG SAR – Media OutReach Newswire – 15 September 2025 – PAO Bank Limited (“PAObank”), a member of Ping An Insurance (Group) Company of China, Ltd. (“Ping An”; SEHK: 2318; SSE: 601318), leverages its unique competitive edge by integrating insurance into its banking services. To mark its 5^th anniversary, PAObank is proud to announce a strategic partnership with China Ping An Insurance (Hong Kong) Company Limited (“CPAIHK”). This collaboration combines the strengths of both entities to create “1+1>2” synergy, delivering an integrated banking and insurance experience. PAObank has introduced its first joint initiative with CPAIHK, alongside a series of exclusive offers. We are thrilled to invite you to UNLOCK the PAObank 5^th Anniversary Treasure Reward.

Redefining Protection: Integrating Banking and Insurance

PAObank is redefining the concept of protection by integrating banking and insurance services. As a member of Ping An, PAObank embodies an inherent “insurance DNA,” with a vision to collaborate with other Group affiliates to build a unique ecosystem that maximises complementary strengths. While providing banking services, PAObank aims to offer customers additional benefits and protection. The strategic partnership between PAObank and CPAIHK focuses on delivering enhanced value to customers. PAObank’s customers can enjoy banking services with additional travel insurance coverage, while CPAIHK’s customers receive exclusive deposit offers, achieving a seamless integration of insurance and banking services.

Mr. Ronald Iu, Chief Executive of PAObank, said, “As a member of Ping An, PAObank is committed to integrating insurance into our banking services. Each company within the Group carries unique strengths, enabling us to create a ‘1+1>2’ experience for our customers. Our team constantly strives to think and act one more step ahead, providing thoughtful and proactive solutions. This collaboration with CPAIHK is just the first step in our strategic blueprint, aiming to build an integrated insurance and banking ecosystem where customers can fulfil their financial needs within a single App, enjoy exclusive benefits and protection, and propels PAObank into a bank with insurance DNA.”

Mr. Kelvin Cheung, Managing Director of China Ping An Insurance (Hong Kong) stated, “CPAIHK consistently leverages the Group’s integrated financial platform to deliver warm financial services. We are delighted to deepen our collaboration with PAObank, integrating insurance and banking services to provide our customers with superior wealth management and protection solutions.”

5th Anniversary Treasure Reward UNLOCK!

High-Interest Time Deposit & Travel Insurance! Double Returns, Level up Your Benefits!

To celebrate PAObank’s 5^th anniversary, we are excited to invite you to UNLOCK the 5^th Anniversary Treasure Reward! Enjoy high-interest time deposit and travel insurance in one go, along with cash rewards to celebrate this special milestone together!

Treasure Reward 1: Complete 3 Missions to Earn HKD1,000 in Cash Rewards

From now until September 30, 2025, PAObank’s customers who completed three missions may earn HKD1,000 cash rewards¹!

Mission 1: Set PAObank as your default FPS account²
Mission 2: Exchange HKD5,000 to USD via the in-app FX service
Mission 3: Deposit HKD200,000 in new funds and place a 6-month HKD time deposit

For the customer who completed Mission 1 and Mission 2 can earn a USD9.29 cash reward³. The first 1,000 customers to complete all three missions will receive an additional HKD929 cash reward³. In other words, by completing all three tasks, you may earn a total of USD9.29 and HKD929, meaning HKD1,000 in cash rewards!

Treasure Reward 2: Enjoy Free Travel Insurance Upon Successful Account Opening

From now until September 30, 2025, new eligible individual customers of PAObank⁴ who successfully open a retail banking account by using the referral code【PAOBPR】will receive free travel insurance⁵ from CPAIHK. Additionally, they will enjoy a 18% annual interest rate⁶ on 1-month HKD time deposit, with a maximum deposit amount of HKD50,000.

CPAIHK customers who successfully open a PAObank retail banking account will enjoy an even higher 20% annual interest rate on 1-month HKD time deposit.

Services terms and condition applied. For details, please visit PAObank’s website at www.paob.com.hk. For enquiries, please contact our customer service hotline at 3762 9900.

¹Calculate using the rounding method.

²Successfully register the Bank as their default receiving bank under the “Faster Payment System (FPS)” during campaign period and maintain the default receiving bank until 31 Oct 2025.

³The reward will be credited to the eligible customer’s HKD or USD savings account with the Bank within two (2) months after the Programme Period. Eligible Customers must maintain a valid account at the time of reward distribution; otherwise, the Reward will be forfeited.

⁴ Eligible Customers refer to those who successfully open a savings account with PAObank from 15 September 2025 to 30 September 2025, and have not held any savings account with PAObank prior to 15 September 2025.

⁵ The free travel insurance (lite version) provided by China Ping An Insurance (HK) Co., Ltd. offers coverage for up to 7 days of worldwide travel and must be redeemed within 6 months from the account opening date. This policy is exclusively for the account holder and cannot be transferred to others. For more details about the travel insurance (lite version), please visit the official website of China Ping An Insurance (HK) Co., Ltd.

⁶The preferential annual interest rate for time deposits will be displayed in the time deposit section of the Bank’s personal banking mobile application within three working days (excluding Saturdays, Sundays, and public holidays) after successful account opening. Eligible customers must place a 1-month HKD time deposit through the dedicated promotional section showing the preferential rate in the personal banking mobile application to enjoy the offer. If the time deposit is placed via any section other than the dedicated promotional section, the basic interest rate will apply and the preferential annual interest rate will not be granted.

Important Notes and Disclaimer for General Insurance Products

PAO Bank Limited (Insurance Intermediary Licence Number: [GA1067]) (“PAObank”) is an appointed insurance agent of Ping An Insurance (Hong Kong) Company Limited (“CPAIHK”). PAObank distributes general insurance products in the Hong Kong Special Administrative Region. The relevant general insurance products are products of the insurance company and not of PAObank. CPAIHK is the issuer and underwriter of the above general insurance products.
The role of PAObank is limited to distributing insurance products of CPAIHK. PAObank will not be responsible for any matters relating to the provision of the products.
PAObank does not provide any legal, accounting, or tax advice. You are advised to consult your professional advisors for advice relevant to your specific circumstances.
For any eligible dispute arising between PAObank and the customer out of the selling process or processing of the related transaction, PAObank is required to enter into a financial dispute resolution scheme process with the customer (as defined by the terms of the Financial Dispute Resolution Centre). However, any dispute over the contractual terms of the insurance products should be resolved directly between CPAIHK and the customer. The insurance product information is intended to be distributed in the Hong Kong Special Administrative Region (“Hong Kong”) and is for reference only. It does not constitute an offer to sell or a solicitation to purchase or provide any insurance products within or outside Hong Kong.
All claims under this insurance plan must be submitted directly to CPAIHK. For claim forms, please call CPAIHK customer service hotline at (852) [2827 1883] (Hong Kong) or visit https://www.pingan.com.hk. For details, please refer to the policy contract provided by CPAIHK. All information provided by you in response to CPAIHK’s questions must be true, complete, and correct. Failure to provide true, complete, and correct information may result in CPAIHK’s inability to accept or process your application or may render the policy invalid.
You are reminded to carefully read the relevant insurance product materials provided to you and are advised to seek professional/independent advice if necessary.
Pursuant to the Insurance (Levy) Regulation (Cap. 41I) and Insurance (Levy) Order (Cap. 41J) under the Insurance Ordinance (Cap. 41), policyholders are required to pay a levy to the Insurance Authority (“IA”) effective from 1 January 2018. For details, please visit the IA’s website at https://www.ia.org.hk. For the latest information about the Insurance Complaints Bureau, please visit https://www.icb.org.hk.

Hashtag: #PAObank

The issuer is solely responsible for the content of this announcement.

PAO Bank Limited

PAO Bank Limited (“PAObank”), a wholly-owned subsidiary of Lufax Holding Ltd (“Lufax”) (SEHK: 6623; NYSE: LU) and a member of Ping An Insurance (Group) Company of China, Ltd. (“Ping An”) (SEHK: 2318; SSE: 601318), is committed to fostering financial inclusion and establishing a digital banking ecosystem by leveraging its extensive experience in SME banking services and its leading financial technology advantages. PAObank was granted a banking licence by the Hong Kong Monetary Authority in May 2019 to offer banking services via virtual channels. PAObank is expanding diverse business segments including retail banking and SME banking.

China Ping An Insurance (Hong Kong) Company Limited

China Ping An Insurance (Hong Kong) Company is equipped with a comprehensive operational framework and a professional management team. We continuously develop a diversified range of insurance services, staying attuned to market trends to provide essential general insurance products for large enterprises, small and medium-sized enterprises (SMEs), and individual customers.

With a dedication to advancing warm financial services, China Ping An Insurance (Hong Kong) successfully launched its online insurance business in 2010, ushering in a new era for the development of general insurance. Offering 24-hour online instant quotation and policy application services, customers can conveniently select the protection they and their families need anytime, anywhere.

The seamless process eliminates the need for document submission, allowing customers to complete the application in as fast as 5 minutes, with policies instantly approved and issued through an automated system. The important terms and conditions of all insurance products are transparent and clear, enabling customers to apply for or renew policies directly via the company’s website.

Media OutReach

Payment Options Singapore Secures In-Principle Approval from MAS for Major Payment Institution Licence

Published

14 hours ago

08/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 8 December 2025 – Payment Options Pte Ltd, a Singapore-based payment solutions provider, is pleased to announce that it has received In-Principle Approval (IPA) from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) licence under the Payment Services Act 2019.

Payment Options Pte Ltd office in Singapore

This milestone underscores Payment Options’ commitment to supporting Singapore’s small and medium-sized enterprises (SMEs) with simple, secure, and accessible digital payment solutions.

If granted the licence, Payment Options Pte Ltd will be authorised to provide three regulated payment services: Merchant Acquisition, Domestic Money Transfer, and Cross-Border Money Transfer. Through these services, the company aims to empower SMEs with a full suite of payment capabilities — from online payment gateways and QR code payments to the upcoming SoftPOS payments technology — enabling merchants to accept digital payments easily and securely.

“We remain deeply committed to supporting Singapore’s SMEs as they grow and compete in an increasingly digital-first economy. Our vision is to position digital payments as a growth enabler — not a challenge — for small businesses”, said Aaron Yip, Director of Payment Options Pte Ltd. “Our goal is to make digital transactions seamless, secure, and accessible for every business, regardless of size.”

Building on this vision, if the licence is granted, Payment Options will continue to work closely with local merchants, financial institutions, and technology partners to enhance payment accessibility and drive innovation across Singapore’s SME ecosystem.

“We reaffirm our commitment to regulatory compliance and innovation, as we contribute to Singapore’s ongoing journey toward a secure, inclusive, and cash-lite economy.”

The IPA granted by the MAS indicates that a licence may be issued upon the fulfilment of specified conditions and provided there are no material adverse developments affecting the applicant. The IPA does not constitute a licence to provide payment services at this stage, and MAS reserves the right to rescind the approval if it deems appropriate.
Hashtag: #PaymentOptions

https://www.paymentoptions.com/
https://www.linkedin.com/company/payment-options/
https://www.facebook.com/PaymentOptions.int/
https://www.instagram.com/payment.options/

The issuer is solely responsible for the content of this announcement.

About Payment Options Pte Ltd

Payment Options Pte Ltd is a Singapore-based financial technology company providing innovative and secure payment solutions designed to help SMEs and merchants simplify digital transactions. With a focus on compliance, technology, and customer experience, the company aims to make digital payments accessible for every business.

Media OutReach

Financial Assistance at SIM: Breaking Barriers to Education

Published

15 hours ago

08/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 8 December 2025 – For many aspiring learners, financial constraints remain one of the biggest obstacles to achieving their goals. SIM is determined to change that. Guided by the principle that no student should be left behind because of cost, SIM has built a comprehensive ecosystem of financial aid, scholarships, and bursaries to make quality education attainable for all.

At the heart of this mission is the SIM Impact Fund, a S$60 million initiative dedicated to empowering students from diverse backgrounds and ensuring that financial hardship never stands in the way of academic or personal growth. By blending need-based assistance with merit-driven opportunities, SIM is creating an inclusive learning environment where talent and ambition define success.

Empowering Learners Through the SIM Impact Fund

In 2024, SIM introduced the SIM Impact Fund, a S$60 million initiative dedicated to supporting students from lower-income households and ensuring that financial constraints do not hinder educational aspirations. Administered through SIM Trust, the fund is designed to empower learners within and beyond SIM’s community by removing barriers to access. Beginning in 2025, Singapore Citizens and Permanent Residents with a per-capita income of S$1,750 or below can benefit from tiered assistance, ranging from S$6,000 up to S$13,500 for those with PCI of S$600 or less, S$4,500 to S$6,750 for PCI between S$601 and S$1,000, and S$2,000 for PCI between S$1,001 and S$1,750. Beyond tuition aid, the fund also provides support for overseas internships and merit-based scholarships, benefiting approximately 500 students annually.

Beyond Tuition: Comprehensive Financial Aid

SIM’s commitment to learning accessibility goes far beyond tuition subsidies. Through its Financial Assistance schemes, students can tap into a range of support options tailored to different needs. These include Enhanced Bursaries Aid, which provide up to S$13,500 per year for Singapore Citizens, and a SIM GE Crisis Fund offering emergency relief of up to S$5,000 for unforeseen circumstances. In addition, SIM encourages global exposure through Study Abroad Awards, enabling students to broaden their horizons without financial strain. Together, these initiatives reflect SIM’s ethos of inclusivity and resilience, ensuring that financial challenges never derail academic aspirations.

Community-Focused Support

The Dr Richard K M Eu – SIM Social Entrepreneurship Centre (RESSEC) exemplifies SIM’s deep-rooted commitment to community empowerment and social impact. Launched in July 2024 in partnership with the late Dr Eu’s family,

RESSEC received a combined S$8 million donation, S$6 million from the Eu family and S$2 million from SIM, marking a significant investment in nurturing social entrepreneurship. Guided by Dr Eu’s vision of transforming social service through ethical leadership and innovation, the Centre equips learners and social service professionals via initiatives such as a specialised postgraduate Diploma in Social Entrepreneurship, mentorship, and collaborative dialogues.

RESSEC also provides 12 bursaries of S$10,000 each for SIM Global Education students (check that this is accurate and that it’s not also extended to those outside the SIM ecosystem) who demonstrate strong community service and leadership and those with per-capita income up to S$1,750, prioritising those with per-capita income less than S$1,000. Through this initiative, SIM embeds purpose-driven learning into its mission, empowering students to create sustainable, positive impact in Singapore and beyond

Scholarship for Excellence

SIM offers a diverse range of scholarships under SIM Global Education to recognize excellence and resilience among its students. These include the SIM STARRR Award, which provides up to S$36,000 to outstanding achievers who demonstrate academic distinction and leadership qualities, and the Sports & Arts Talent Award, also valued at S$15,000 for students who excel in athletic or artistic pursuits. Additionally, the Chairman’s Award for Resilience grants S$3,000 to students who successfully balance work and study commitments, showcasing perseverance in the face of challenges. Together, these scholarships complement SIM’s need-based financial aid, creating a holistic support system that rewards merit while ensuring inclusivity.

Conclusion: Building a Future Without Barriers

SIM’s financial assistance framework is more than a set of policies, it is a promise to the community. By investing in initiatives like the SIM Impact Fund and expanding bursaries and scholarships, SIM is actively dismantling the barriers that prevent talented individuals from reaching their potential. This approach does not just benefit students, it strengthens society by cultivating a diverse pool of graduates equipped to lead, innovate, and give back. In a world where education often comes with a hefty price tag, SIM stands out as a beacon of accessibility and empowerment. For students and families seeking assurance that quality education is within reach, SIM offers not just hope but a clear, actionable path forward.

References:

Bursaries & Financial Aid (Enhanced) – https://www.sim.edu.sg/degrees-diplomas/admissions/bursaries-and-financial-aids
Dr Richard K M Eu – SIM Social Entrepreneurship Centre (RESSEC) – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/ressec
The Dr Richard K M Eu – SIM Social Entrepreneurship Centre (RESSEC) Opens to Advance Singapore’s Social Sector – https://www.sim.edu.sg/news-events/the-dr-richard-k-m-eu-sim-social-entrepreneurship-centre-%28ressec%29-opens
SIM Scholarship – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships
SIM’s STARRR Award – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/sim-starrr-award-for-new-undergraduate-students
SIM Award and Sports & Artistic Award – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/sim-global-education-scholarship
SIM Global Education Diploma Scholarships – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/sim-global-education-diploma-scholarships
Chairman’s Award for Resilience – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/chairman-s-award-for-resilience

Hashtag: #SIMGlobalEducation #SIMGE #GlobalEducation #InternationalDegree #CareerReady #FutureSkills

The issuer is solely responsible for the content of this announcement.

About SIM Global Education

SIM Global Education (SIM GE) is a leading private education institution in Singapore and the region. We offer more than 140 academic programmes ranging from diplomas and graduate diploma programmes to bachelor’s and master’s degree programmes with some of the world’s most reputable universities from Australia, Canada, Europe, United Kingdom, and the United States. SIM GE’s cohort is made up of 16,000 full- and part-time students and adult learners, of which approximately 36% are international students hailing from over 50 countries.

SIM GE’s holistic learning approach and culturally diverse learning environment aim to equip students with knowledge, industry skills and employability competencies, as well as a global perspective to succeed as future leaders in a fast-changing, technologically driven world.

For more information on SIM Global Education, visit sim.edu.sg

Media OutReach

Beyond Academic Excellence: SIM Scholarships Champion Leadership, Resilience, and Talent

Published

1 day ago

07/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 7 December 2025 – The Singapore Institute of Management (SIM) is proud to reaffirm its commitment to developing future-ready graduates through a comprehensive scholarship framework that goes beyond academic achievement. These scholarships are designed to recognize and nurture qualities such as leadership, resilience, and talent. These attributes are essential for success in today’s dynamic global environment.

For decades, scholarships have been synonymous with academic excellence. SIM is redefining this narrative by adopting a holistic approach that values character, contribution, and courage alongside academic performance. This initiative reflects SIM’s mission to prepare graduates who are adaptable, innovative, and socially responsible.

Scholarships That Go Beyond Academics

SIM’s scholarship ecosystem reflects its belief that success is multidimensional. Rather than focusing solely on grades, these awards celebrate qualities such as resilience, leadership, and talent. The SIM STARRR Award, for instance, supports freshmen who embody Resilience, Resourcefulness, and Responsibility, offering up to S$36,000 in tuition fees, along with living and exchange allowances, without any bond requirement.

For students who shine in sports or the arts, the SIM Award & Sports/Artistic Talent Award provides S$15,000, disbursed in two tranches, to help them balance academic and extracurricular excellence.

International students pursuing diploma programmes can benefit from the Diploma Scholarships, which cover up to 100% of course fees for academic excellence or 50% for merit-based achievements.

For working adults who have overcome significant challenges, the SIM Chairman’s Award for Resilience offers S$3,000, recognizing perseverance and determination in the face of adversity.

Stories That Inspire

SIM’s scholarships are more than financial aid. They are catalysts for transformation, opening doors for students to turn challenges into triumphs. Take Ernita Tanudjaja, an international student who refused to let pandemic disruptions derail her ambitions. Instead, she leveraged technology to livestream events and boost engagement, showcasing resilience and resourcefulness.

Similarly, Chow Kah Ying, an ICU nurse, managed the intense demands of frontline healthcare during COVID-19 while completing her degree, showcasing perseverance and purpose. Likewise, Michelle Seah transformed O-level failure into triumph, excelling in javelin and academics to earn the SIM Sports & Artistic Talent Award, proof that determination and discipline can rewrite any story.

These journeys reflect SIM’s unwavering belief that leadership and resilience matter as much as grades, and that true achievement lies in character and contribution as much as in academic performance.

The Broader Vision

SIM’s scholarships represent more than financial assistance. They serve as a strategic platform for transformation and growth. Recipients benefit from networking opportunities that connect them with alumni and industry leaders, fostering mentorship and career development. Many scholarships also provide international exposure through exchange programmes that broaden perspectives and enhance global competencies.

In addition to academic achievement, students cultivate essential life skills such as leadership, resilience and adaptability through experiential learning and community engagement. These qualities equip graduates to excel in uncertain environments and contribute meaningfully to society.

This commitment reflects SIM’s core belief that education is not limited to examinations. It is about shaping leaders who create impact and drive positive change in a rapidly evolving world.

References: