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Fintech News Hong Kong

Virtual Banking

Hong Kong’s Virtual Bank WeLab Named On the 2020 CNBC Disruptor 50 List

WeLab has been named #11 on the 2020 CNBC Disruptor 50 list, and was the only company included from Hong Kong

Wealthtech

Mainland China Pilots Cross Border Investments with Hong Kong and Macau

The People’s Bank of China, the Hong Kong Monetary Authority, and the Monetary Authority of Macao have implemented a pilot

Various

Cyberport to Boost HK Fintech Talent Pool with HK Government’s US$15.5 Million Fund

Cyberport today announced that it has been commissioned by the Financial Services and the Treasury Bureau to implement the “Fintech

Blockchain/Bitcoin

What is A Digital Currency and Why They Are The Real Revolution

Technology is transforming payments, and one of the most widely talked about innovations in this regard has been digital currencies.

China Lending

Alibaba’s Online Bank Unveils Five-Year Plan to Acquire More SME Customers

MYbank, the digital bank under Ant Group (formely known as Ant Financial) which is part of the Alibaba Group, today

Virtual Banking

Ping An OneConnect Launches its Virtual Bank Pilot

Ping An OneConnect Bank (PAOB) announced its pilot trial under the Fintech Supervisory Sandbox (“FSS”) of the Hong Kong Monetary

Wealthtech

Avaloq Hires in Hong Kong to Strengthen Its Greater China Footprint

Avaloq, the Swiss-based provider of digital banking solutions, core banking software and wealth management technology, has appointed Pascal Wengi as

Various

Lufax’s Subsidiary Receives Nod to Provide Investment and Wealth Services in Hong Kong

Lufax Holding’s subsidiary LUI HK announced today that Hong Kong Securities and Futures Commission (SFC) has granted the company regulatory

InsurTech

Manulife Among the First Wave of Insurers Approved to Launch Virtual Agency Sales Platform

Manulife Hong Kong today announced the launch of a ‘Virtual Face-to-Face’ agency sales platform for all Manulife individual insurance products

China

American Express Granted Clearing License for China’s US$ 27 Trillion Market

American Express announced that its joint-venture in mainland China, Express (Hangzhou) Technology Services Company Limited (“Express Company”), has received approval

Various

Now Home to Over 600 Fintechs, Hong Kong Unveils New Fintech Initiatives

In the coming year, Hong Kong will be introducing several new measures and initiatives to facilitate fintech development with a

Various

HKTDC’s Start-Up Express Pitching Contest Showcases Innovative Solutions

Start-up Express, an entrepreneurship development programme organised by the Hong Kong Trade Development Council (HKTDC), has returned for its third

Virtual Banking

Virtual Bank Airstar Fully Launches in Hong Kong with Up To 3.6% P.A Interest Rates

Airstar Bank today announced the official launch of its virtual banking services to the public which encompass savings account, time

Various

DBS’ Latest Gimmick Shows You How You Might Look Like At Retirement to Help Plan for It

With evolving lifestyles, growing awareness of health and fitness, and medical advancement enabling more people to live longer, retirement will

Various

How the Legal Entity Identifier Is Creating a More Secure and Transparent Global Digital Economy

Doing business in a modern economy like Hong Kong means digitally connecting with people, organisations and systems on a global

Blockchain/Bitcoin

Crypto Hedge Funds AUM Doubled in 2019

In 2019, cryptocurrency-focused hedge funds’ assets under management (AUM) doubled to US$2 billion, and the average per fund jumped to

Korea Lending

South Korea’s Rapidly Growing P2P Lending Industry Faces Scrutiny

With a mushrooming delinquency rate and investment fraud allegations, South Korea’s rapidly growing peer-to-peer (P2P) lending industry has come under

Taiwan Virtual Banking

Temenos Bags Taiwan’s Virtual Bank as a Customer

Temenos, the banking software company, announced that Next Commercial Bank (Next Bank), has selected Temenos Transact to power its launch

Korea

Korean Messaging Giant Kakao’s Ground X Launches Digital Asset Wallet “Klip”

Ground X, the blockchain affiliate of South Korean Internet giant Kakao and developer of Klaytn, today launched a blockchain-based digital

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