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Fintech News Hong Kong

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TOP PICKS

Mobile Payment Top Picks

An Overview of Digital Wallets in Hong Kong in 2020

Hong Kong has been pushing for greater development and adoption of digital and mobile payments with the Hong Kong Monetary

Top Fintech and Blockchain Books

Fintech Accelerators and Incubators in Taiwan, Japan and South Korea

Top Wealthtech Startups in East Asia

Standard Chartered’s MOX Open’s its Virtual Banking Service to Select Customers

Top 9 Up and Coming Fintech Startups in South Korea to Watch in 2020

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Latest Fintech News

Covid19 Japan Mobile Payment

In Japan, COVID-19 Puts a Brake on Merchant Cashless Payments Adoption

The COVID-19 pandemic and the resulting economic turmoil have put a brake on merchant adoption of cashless payments, according to

Mobile Payment Virtual Banking

Jetco Rolls Out Cross-Bank Cardless Withdrawal Service in Hong Kong

Joint Electronic Teller Services Limited (JETCO) today announced the rollout of Hong Kong’s first cross-bank cardless withdrawal service. Customers of

Various

Bank for International Settlements (BIS) Appoints Bénédicte Nolens Its Hong Kong Head of Innovation

The Bank for International Settlements (BIS) today announced the appointment of Bénédicte Noella Nolens as head of the BIS Innovation Hub Centre

Open Banking

APAC Banks Are Backing Open Banking, but What Does ‘Open’ Really Mean?

A survey launched this week by Finastra revealed that close to 100% of financial institutions in Singapore and Hong Kong

Japan Mobile Payment

Stripe Opens Tokyo Office After Deepening Partnership with JCB

Stripe, the online payment infrastructure provider powering the likes Amazon, Facebook, Shopify, Zoom, Slack today announced opening of an engineering

China Lending

How WeChat Pay Determines If You Are Trustworthy With Their Credit Score

WeChat Pay, Tencent’s mobile payments system integrated into the WeChat super-app, has told its users that it will be giving

Covid19

Fintech Funding Hitting Record Lows Amid COVID-19 Crisis

The COVID-19 outbreak has taken a toll on startup funding with fintech investment dropping to levels not seen since 2016

Virtual Banking

Hong Kong Banks Lagging Behind in Openness to Apply New Tech Compared to Virtual Banks

Banks in Hong Kong are embracing fintech, with innovations relating to mobile banking, open banking (APIs), machine learning and predictive

Mobile Payment

How Past Lessons in Digital Payments Can Help Banks Navigate in the New Normal

The past couple of decades have seen a complete upheaval in where we buy things and how we pay for

Covid19

3 Things You Should Know About Hong Kong’s SME Export Marketing Fund

With businesses scrambling to recoup their losses due to the recent pandemic, digital e-commerce wasn’t left unscathed. Hong Kong’s small

Various

Standard Chartered Spends HK$60 Million to Support the Launch of Fintech Academy with HKU

The University of Hong Kong and Standard Chartered Bank jointly announced the establishment of a Fintech Academy with the latter

Covid19 Lending

Lending Activity Decreases and Loan Defaults on The Rise in Hong Kong Amid COVID-19

The newly-released TransUnion Q1 2020 Industry Insights Report shows that COVID-19 has severely amplified the impact of the 2019 Hong

InsurTech

JETCO Partners With Insurtech Start-Up GoLion to Offer Insurance APIs

Joint Electronic Teller Services Limited (JETCO) today announced its partnership with insurtech start-up GoLion to offer insurance APIs via the JETCO

Virtual Banking

Virtual Bank WeLab’s HK$10,000 Interest-Free Loan Opens For Application Today

Virtual banking operator WeLab announced today that its’ #HKCashDrop is open for application today, on a first come first serve

Blockchain/Bitcoin

Tencent’s WeBank to Support IMDA Backed Singapore Blockchain Accelerator

Tencent’s WeBank and OpenNodes a deep tech ecosystem platform backed by IMDA and powered by Tribe, have joined hands to

Mobile Payment

Ant Financial to Invest US$ 73.5m in Wave Money to Drive Financial Inclusion in Myanmar

Wave Money and Ant Financial today announced a strategic partnership to promote financial inclusion in Myanmar. Wave Money is a

Remittance

Niche Global Selects Volante Technologies’ SEPA Instant Payments as a Service in the Cloud

Volante Technologies, a global provider of payments and financial messaging solutions to accelerate digital transformation announced that Niche Global, a

Korea Top Picks

Top 9 Up and Coming Fintech Startups in South Korea to Watch in 2020

Fintech has been named one of the top priorities for South Korea this year. The government has said it will

Various

CES China: Virtual Pitching Competition With 20 Swiss Startups

Despite the outbreak of the COVID-19 pandemic, 20 Swiss DeepTech startups will be taking the virtual stage in Asia this

Big Data Open Banking

Unlocking the Value in Payments Data With Technology and Partnerships

Over the years, banks have been creating exponentially growing mountains of data – much of it with huge potential value.

Virtual Banking

Riding the Cloud to the Bank of the Future

Shifts in consumer behaviour towards digital services are resulting in monumental changes for the banking industry. Highly anticipated digital banking

InsurTech

Virtual Bank Operator ZA Receives Digital Insurance License with Premiums Starting At HK$2

ZA Life announced that it has received regulatory green light from the Insurance Authority to operate as a digital insurer

Lending

HPDLendScape Enhances Supply Chain Finance Offer to Simplify Access for Asia’s SMEs

HPDLendScape, a leading secured lending platform vendor, announced a new supply chain finance (SCF) solution. The new enhanced solution will

Virtual Banking

WeLab Bank Takes Flight in a Pilot Trial with Interest Rates up to 4.5% P.A

WeLab Bank Limited has commenced a pilot trial under the Hong Kong Monetary Authority’s (“HKMA”) Fintech Supervisory Sandbox (“FSS”). During

China Virtual Banking

Ant Financial’s MYBank Reports Nearly Doubling of SMEs Served in 2019

MYbank, an online private commercial bank under Ant Financial Services Group, stated in its annual report released today that it

Personal Finance

Sofi Invest Enters HK With Its Commission Free-Trading Through Acquisition of 8 Securities

SoFi, the digital personal finance company, announced today an expansion into its first international market, with the introduction of SoFi

Blockchain/Bitcoin

Hong Kong’s First Cypto Fund Eyes US$ 100 Million Fund Size

Arrano Capital, which is the blockchain arm of Venture Smart Asia Limited, today announced the launch of Hong Kong’s first

Blockchain/Bitcoin

Ant Financial Opens Consortium Blockchain Platform to SMEs and Developers

Ant Financial announced the launch of OpenChain, a blockchain platform that enables small and micro enterprises (SMEs) and developers to

Remittance

HK-Based Fintech Unicorn Airwallex Bags US$160M In a Record Fundraising Round

Airwallex today announced that it has closed its Series D fundraising round at US$160M, marking its biggest capital raise to

Various

DBS Hong Kong Launches Contact-Free Business Account Opening for SMEs

DBS Hong Kong is transforming the traditional business account opening process for SMEs into a fully virtual and contact-free banking

Virtual Banking

Meet Hong Kong’s 8 New Virtual Banks

Hong Kong Monetary Authority (HKMA) has announced a grand total of eight virtual banking license recipients, in three separate announcements

Crowdfunding

Crowdfunding Fails To Take Off In Hong Kong

In recent years, crowdfunding has emerged as a popular way for individuals, startups and businesses to raise funding from a

Online Wealth Mgt Wealthtech

Robo-Advisor AQUMON, a HKUST Incubatee Receives yet Another Round of Funding

Designed by Magnum Research, Aqumon is a robo advisory service aimed at making wealth management more accessible to the Hong

Various

Fintech in Hong Kong 2017 Startup and Ecosystem Report and Infographic

With over a hundred fintech ventures and more than 35 investors and accelerator programs, Hong Kong’s fintech ecosystem is growing

Online Wealth Mgt

Citi Launches Live Chat to Service Hong Kong’s 1 Million Millionaires

Citi Hong Kong has launched Citi Live Chat, which enables the bank’s relationship managers to interact with their Citigold Private

Crowdfunding Lending

How Does Hong Kong’s Digital Lending Scene Compare to The Disaster in China

P2P lending and digital lending has been on the rise lately, with many countries moving to regulate the space. Conventional

Various

Fintech Map Japan

Japan has the world’s third-largest economy and has always been associated with the high technological developments. As the country looks

Online Wealth Mgt

Ant Financial to Share Full Suite of AI Capabilities with Asset Management Companies

At Financial announced that the Company will share a full suite of AI capabilities with asset management companies in China

Lending Virtual Banking

Neat Snubs Virtual Banking License and Picks Up The Money Lender License Instead

The fintech startup Neat, a digital banking alternative, has been granted a Money Lender’s License in Hong Kong, which marks

Lending

Skype Co-Founder’s Lending Startup Raises US$105 Mil

Oriente, the Hong Kong-based financial services and technology company announced today that it had completed a US$ 105 million initial

Various

Top 12 Fintech Startups in Hong Kong

Hong Kong’s long-established financial center, burgeoning startup scene and developed business center connecting Mainland China with global markets, have made