Tag "Tencent"

Livi VB’s New Trump Card is a CEO With Experience in China’s First Virtual Bank

Due to the worryingly slow development of digital banking in Hong Kong, regulator Hong Kong Monetary Authority (HKMA) granted virtual banking license it to a total of 8 virtual banks.  Since then, these companies have been locked in an intense battle for talent as they

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Shenzhen Stock Exchange Partners Up with Tencent to Launch Fintech Innovation Lab

Tencent and Shenzhen Stock Exchange (SZSE) have banded together to form a joint innovation lab, named the SZE – Tencent Financial Technology Joint Laboratory. The lab will focus in what they call “financial sci-tech”, and devote its existence to jointly

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Tencent’s Fintech & Cloud Unit Generates US$ 3.1 Billion in Q1 of 2019

In their quarterly results announcement, Tencent revealed that its fintech and cloud services generated RMB21.8 billion (US$ 3.1 Billion) in the first quarter of 2019, a 44% year-on-year growth. This quarter marks the first time the Chinese internet giant is

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How is China’s Smallest Province Hainan Attracting Fintech Giants Like Tencent

Since president Xi Jinping announced a plan to gradually turn Hainan into a pilot free trade zone by 2020 and transform the location into a free trade port by the year 2025, Internet giants and fintech firms are flocking in.

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How China is Quietly Shaping Asia’s Fintech

When one considers China’s influence on the rest of Asia, it is often seen as a benchmark; how China’s dramatic move into a cashless society has financially emboldened more of its populace, created more financial inclusivity for the underserved thus

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Competition Heats up for Japan’s Mobile Payments Market

Mobile payments is rapidly becoming a dynamic market in Japan as the government pushes to increase cashless payments to 40% of transactions by 2025 from 20% in 2016. Japan is a highly cash-dependent society with cash in circulation amounting to

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How China’s Fintech Giants are Tapping into a US$ 600 Billion Market

China’s tech giants Alibaba and Tencent are going after global remittances, a market that sees more than US$600 billion being moved around the world annually, according to the World Bank. The two firms recently launched cross-border money transfer services to

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Fintech Collaboration between Hang Seng Bank and Tencent

Hang Seng Bank and Tencent announced that they have established a strategic fintech partnership. The parties will initially collaborate on various aspects of technology application, account-opening procedures and retail payment services with the aims of providing customers with innovative and

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Tencent’s WeSure Forms Partnerships with 20 Insurance Companies

WeSure, Tencent’s insurance platform, has widened its line of products and formed partnerships with 20 insurance and reinsurance companies. The “data-driven” and “social connection” features of WeChat, as Alan Lau, Chairman & CEO of WeSure, mentioned in a recent CNBC interview, will help

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Hong Kong Fintech Week 2018 – Day 5 Shenzhen Day Highlights

Hong Kong Fintech Week, arranged by Invest Hong Kong (InvestHK), wrapped up on Friday with Shenzhen Day, a first-ever cross-border fintech event, attended by several hundred delegates for discussions and speeches before departing to visit the offices of Tencent, WeBank

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