This is an excerpt from a story delivered exclusively to Business Insider Intelligence Fintech Briefing subscribers. To receive the full story plus other insights each morning, click here. Hong Kong's Monetary Authority (HKMA) has granted virtual banking licenses to Ping An Insurance's subsidiary Ping An OneConnect, Ant Financial Services' unit Ant SME Services, Xiaomi-AMTD Group's Insight Fintech HK, and the Infinium consortium that includes Tencent Holdings, according to the South China Morning Post.