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Over 80% of Banks in Hong Kong Plans to Increase Investment in AI Within 5 Years

Banks in Hong Kong have been integrating artificial intelligence (AI) into various key functional areas in a bid to reduce costs and improve customer experience, according to an industry-wide survey conducted by Hong Kong Monetary Authority (HKMA). In a report

AI Big Data China Virtual Banking

How China’s Virtual Banks Are Offering Loans to Micro-Businesses Within Minutes

In China, online lenders are filling the credit gap, leveraging cutting edge technology including artificial intelligence (AI) to make lending decision in just a second. E-commerce giant Alibaba’s MyBank and Internet conglomerate Tencent’s WeBank, have dramatically changed the domestic financial

AI Infographic

Fintech Infographic of the Week: Ethical AI

Artificial intelligence (AI) is set to play a key role in the future of financial services and more broadly in what UBS and the World Economic Forum refer to as the “Fourth Industrial Revolution.” The global economy is on the

AI Regtech

Hong Kong Chooses 3 Startup as Part of the Global Fintech Sandbox Project

The Hong Kong Monetary Authority (HKMA), is one of 17 global regulators that are participating in the Global Financial Innovation Network (GFIN) cross-border pilot tests—which has just shortlisted 8 fintechs. In total, 44 unique applications were submitted across the 17

AI China Mobile Payment

QR Codes Are Out, Soon You’ll Only Need to Show Your Face to Pay in China

While Sweden is trialling inserting microchips into its citizens as a new way to pay, China is opting for a less invasive method — your face. In Shenzhen, a local subway operator is testing several advanced technologies powered by the

AI Big Data Blockchain/Bitcoin

WeBank Lends Blockchain Expertise to Help Macao Transform into a Smart City

WeBank just signed a collaboration agreement with the Macao Science and Technology Development Fund (FDCT), established by the Macao government. Together, the two parties will collaborate in the development of Macao as a Smart City. With fintech at front and

AI Blockchain/Bitcoin

FinFabrik Concludes Seed Round Led by BitMEX Ventures

FinFabrik, a Hong Kong-based fintech startup focused on issuance, market making, and trading of digital assets has raised an undisclosed amount in seed funding. BitMEX Ventures, the investment arm of Seychelles-based HDR Global Trading Ltd., is the lead investor. FinFabrik

China’s Top Tech Companies Get Real About Artificial Intelligence

For a moment, when thinking about “Artificial Intelligence,” try to erase from your mind images of robots bent on the complete destruction of the human race popularized by science fiction. AI’s banal practicalities far exceed its nefarious reputation, and it’s

11 Fintech Artificial Intelligence Startups to Watch in Asia

Blockchain may have been the obvious choice when one considers the subcategory of fintech that might gain traction this year, but we should have expected that the rise of a more reliable ledger system would pave the way to the