Convoy Global Holdings Limited announced a strategic partnership with Tandem Money Limited. The partnership is cemented with an initial 15 million pounds (equivalent to approximately HKD 153.8 million) investment in Tandem Money Limited by Convoy. This is the first-ever partnership between a Hong Kong financial services company and a U.K. virtual bank provider. Convoy's strategy is to focus on the transformational opportunities of fintech and businesses, and the partnership with Tandem builds on its existing investments in Nutmeg in the U.K. and CurrencyFair in the Republic of Ireland. The intention is to utilise Tandem's technology to offer digital financial services to Hong Kong consumers and, in time, to launch a virtual bank, depending on regulatory approval and the grant of a banking licence.