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The First 3 Recipients of HKMA’s Virtual Banking License Have Been Announced

The Hong Kong Monetary Authority (HKMA) announced today that three companies have been granted virtual banking licences: Livi VB, SC Digital, and ZhongAn Virtual Finance. As rumoured in our previous report, some of the companies granted licenses are joint ventures that include

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Neat Reveals One Key Problem With HKMA’s Virtual Banking License and Why They Won’t Bother

The Hong Kong Monetary Authority (HKMA)’s decision to set up the virtual license is often seen as a strategic move, if a tad overdue. Reportedly, the regulator saw over 29 applications, which rumour has it, includes companies like Ant Financial,

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DocDoc Secures Investment from Cyberport Macro Fund

DocDoc, a patient empowerment platform recently announced that it secured strategic investment from Cyberport Macro Fund . Following this investment round DocDoc will be opening a new office in Hong Kong’s Cyberport This recent investment from Cyberport brings the total

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4 Out of 5 of Customers Don’t Think Banks Know What They Need

According to a study conducted by JD Power, 54% of customers don’t fully trust their primary banks, which the study marks as notable sinceconsumers often consider banks their trusted adviser for financial planning. The study finds that four in five

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HKMA is Rumoured to be Granting Virtual Banking Licenses to China’s Fintech Giants

Since its announcement in early 2018, HKMA’s virtual banking license has attracted strong interest from the industry to seek regulatory approval to operate a virtual bank. It is reported that within a short time frame the regulator saw over 29

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8 Trends Shaping the Future of Retail Banking in Asia

Retail banking, also known as consumer banking, is on the cusp of a new era of amazing growth and opportunities. Asia will reach over US$900 billion in retail banking revenue by 2020, growing at about 14% per year, according to

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11 Upcoming Fintech Events in Hong Kong and Shenzhen in 2019

Fintech continues its momentum in Asia. In the first half of 2018, fintech companies in the region raised US$16.8 billion in funding with China and India dominating the top 10 deals, and blockchain and artificial intelligence (AI) remaining key priority

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Hong Kong Now Part of Asia-Pacific Fintech Network for Cross-Country Collaboration

Fintech associations from across the Asia-Pacific region have announced the formation of the Asia-Pacific Fintech Network, which will facilitate greater collaboration throughout the region and encourage innovation across borders. Nine associations got together to formally launch the network at the

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Over 3000 Finance & Business Leaders Took Part in Asian Financial Forum

More than 3,300 financial policymakers, financial elites and business leaders attended the two-day 12th Asian Financial Forum (AFF), which concluded yesterday. Co-organised by the Hong Kong Special Administrative Region Government and the Hong Kong Trade Development Council (HKTDC), the theme

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HKMA Holds High-level Fintech Roundtable with 30 Central Banks

The Hong Kong Monetary Authority (HKMA) held 9 January 2019 a high-level Fintech Roundtable (Roundtable), which was attended by about 45 senior representatives from six international organizations and around 30 central banks or regulatory authorities in 18 jurisdictions. The Roundtable

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