At the summit of creativity and corporate ambition, the WeLab headquarters stands proudly atop a busy commercial building in Quarry Bay. It’s a vibrant hub where finance meets fun – if Pixar had a branch for fintech, this would be it. The office could easily be mistaken for a lively café or a playground for grown-ups, and it reflects WeLab Founder and Group CEO Simon Loong’s personality as a leader – one who is building one of Asia’s largest independent fintech platforms with panache, and quite possibly, a cheeky grin.

Bright walls adorned with brash slogans like “Work Smart, Not Harder,” “Get Shit Done but Do it Right,” and “Get Uncomfortable” merge seamlessly with artwork and memorabilia symbolising company milestones. Television monitors flash snippets of Loong’s recent interviews where he outlines ambitious plans to navigate into a future brimming with AI-driven innovations. It’s as if every corner of this colourful office whispers, ‘Yes, we’re in finance, but why not enjoy the ride while we’re at it?’

Loong’s personal journey began far from this high-tech haven. “When I was young, I was never a very good student,” he confesses. “I didn’t have an impressive academic track record, and I struggled with homework.” The candidness with which he speaks of his childhood challenges – a topic often whispered about in hushed tones – is both refreshing and endearing.

It was this early struggle that sparked his insatiable intellectual curiosity, a trait that would ultimately serve him well in the notoriously staid world of finance. And from these humble, formative years emerged a fearless innovator who took professional leaps that many wouldn’t dare consider, culminating in the game-changing 2020 launch in Hong Kong of digital-only WeLab Bank, which is now leading the digital banking industry in Hong Kong.

Learning Through Failure

Loong’s memories of being in the “bottom third” of his secondary-school class usher in a profound perspective on failure. “With little expectation from my parents, I was free to experiment,” he explains. “I found many things interesting. I’d dive into libraries to learn beyond the curriculum.” This resourcefulness awakened in him a kind of entrepreneurial spirit and resilience that would later become the cornerstones of WeLab.

After moving to Australia at the age of 13, he faced a fresh set of challenges, but the experience taught him adaptability – a skill crucial for any pioneer. “Adapting to a new culture can be intimidating,” he reflects. “But it also teaches you how to think outside the box. I embraced it.”

After university he returned to Hong Kong and held various leadership roles at Citibank and Standard Chartered Bank, but it wasn’t long before he felt his toolbox was lacking once again. To remedy this, in 2011 he made the decision to pursue a Master degree at the Stanford Graduate School of Business, a move that would reshape not only his career but also his approach to leadership.

Stanford State of Mind

“Going back to school after 15 years of work was like recalibrating my compass,” says Loong. “I was tackling challenges daily, and I felt stuck, like I was running out of tools to solve problems.” Stanford was the antidote; he learned both leadership and the art of entrepreneurship, and developed an eclectic blend of skills that would later fuel his success with WeLab.

Breaking New Ground

Under Loong’s stewardship, WeLab has transformed from a 2013 startup co-founded with his wife, Frances Kang, and university friend Kelly Wong, into a leading pan-Asian fintech platform with over 70 million individual users and more than 700 enterprise customers across Hong Kong, mainland China and Indonesia. The innovative surge continues as it embarks on a new frontier: “AI is changing everything,” he states. “We’re actively pursuing AI-driven financial innovations to enhance our services and accessibility.”

This vision for AI is exemplified by a recent strategic investment from the government-owned Hong Kong Investment Corporation Limited (HKIC) aimed at “pioneering AI finance”. Announced amid fanfare in April, and followed by a summit that brought together financial industry leaders, this collaboration focuses on accelerating AI-driven fintech services.

“It’s about elevating the digital future in Asia,” elucidates Loong, embodying the same passion he has for his team – a culture where innovative ideas flourish. “For over a decade, WeLab has thrived due to the support of local governments and the tech community. Our ambition is even bigger.” With its second digital bank, Bank Saqu, launched in Indonesia two years ago, and plans in motion for Thailand, the group envisages establishing the first leading regional digital bank catering to 500 million users by 2032.

Leading with Empathy

As a pioneer, Loong isn’t just focused on numbers; he understands the human element in finance. “The biggest lesson from banking is that people often struggle to let go of their titles and the prestige that comes with them.” He believes that this impediment stifles innovation. “In fintech, you need people who are willing to shed their positions to explore new opportunities,” he says, underscoring the commitment to cultivating a culture of experimentation at WeLab.

He emphasises the importance of resilience and resourcefulness, traits he wants his two daughters to master. When prompted about his parenting philosophy, he says: “I encourage my girls to be intellectually curious and resilient. Education isn’t just about grades; it’s about developing character.”

Vision Beyond Numbers

As we continue our engaging conversation, it becomes evident that Loong is not just focused on immediate results; he’s keen on building a legacy. “Seeing my colleagues grow and rise through the ranks here gives me a lot of joy,” he reflects. “When people come back and share how much they learned and how it shaped their careers, it’s profoundly fulfilling.”

This nurturing of talent is reflected in WeLab’s emphasis on upskilling its workforce and promoting talent development in fintech. “As we expand into new regional markets, we are also passionate about sharing knowledge with the next generation through educational programmes and workshops,” adds the CEO.

Commitment to Innovation

Ultimately, Loong is a quintessential leader in the fintech space. Mirroring the sleek and vibrant atmosphere of WeLab’s headquarters, he is serious about business yet playful in his approach. His commitment to innovation, inclusivity and constant improvement illustrates his unique approach to transforming the financial services industry.

As we wrap up our interview, we both reflect on how his ethos – treating challenges as games to be played rather than battles to be fought – not only propels WeLab toward new heights but also redefines what leadership can be in this fast-paced world. While his office might be painted in bright colours, Simon Loong’s vision for the future of fintech is deep, innovative and resolutely forward-thinking. After all, he has always played it right – from the get-go and every moment since.

Interview, Text & Art Direction: Joseff Musa      Photographer: Jack Law     Videographer: Iris Ventura