The business world is excited about automation. It’s creeping into every day life, slowly yet surely. There are vast amounts of content on what it can do for your business, how it will revolutionise the way we work. However, sometimes it is worth going back to level zero to contemplate what foundations need to be laid to create a successful automation strategy. What is the PPT Approach? In his talk at the 3rd RPA (Robotic Process Automation) and Intelligent Automation Summit, Sebastian Antony, Portfolio Lead Enterprise Machine Learning at Barclays International, did just that. He stresses the PPT approach -…

Societe Generale and WHub successfully concluded their second FinTech hackathon ‘FinHACK 2018’ in Hong Kong on 8 July 2018. Over 150 university students, entrepreneurs, developers, designers, business analysts and startups from Hong Kong and other Asian countries registered to participate in the 36-hour challenge. Building on Societe Generale’s commitment to drive innovation and digital transformation in the financial services industry, participants were mentored by experts from the bank and the FinTech industry to develop a diversity of innovative solutions that addressed business challenges on three themes: RegTech, WealthTech and Digital Banking. CreDiscount Go, a team of six students from the University…

Hong Kong Applied Science and Technology Research Institute (ASTRI) and Cyberport, the digital tech community comprising over 1,000 technology companies, partnered for the ‘ASTRI Technovation Day’ — aiming to introduce ASTRI to the Cyberport tenant companies, particularly the technology start-ups in FinTech, Blockchain, HealthTech and Artificial Intelligence (AI). T hrough events like this, ASTRI hopes to develop the connection with the technology start-up community and provide necessary support to them. Held last week at Cyberport, the ASTRI Technovation Day had a clear mission of fostering collaborations, boosting technological capabilities, sharing useful information about funding resources, and updating participants on ASTRI’s technology…

Xarbon a Hong Kong based sustainability technology company using blockchain to improve carbon credit trading market transparency,  announces that the Company will have a strategic partnership with the United Nations Office for Project Services (“UNOPS”) to support low-carbon economy development. On the other hand, the Company has taken part in co-investment of USD18 million on a Korean-based OLED lighting project to offset carbon emission. Xarbon launched the first Digital Carbon Credit “OCO”, on top of the New Economy Movement (“NEM”) Blockchain, which aims to future proof the carbon economy. The team believes that by applying blockchain technology to the carbon…

Worldwide spending on blockchain solutions is forecast to reach $11.7 billion in 2022, according to a new update to the Worldwide Semiannual Blockchain Spending Guide from International Data Corporation (IDC). IDC expects blockchain spending to grow at a robust pace throughout the 2017-2022 forecast period with a five-year compound annual growth rate (CAGR) of 73.2%. Worldwide blockchain spending is expected to be $1.5 billion in 2018, double the amount spent in 2017. Stacey Soohoo, research manager with IDC’s Customer Insights & Analysis team said, “Enthusiasm for blockchain continues to be universally shared across regions as businesses and organizations alike continue…

Singapore based co-living company, Hmlet announced it signed an agreement to acquire Hong Kong co-living startup, we r urban. The deal marks Hmlet’s expansion into the Hong Kong market and is their first acquisition of a direct competitor. we r urban currently manages a portfolio of 30 co-living spaces, housing 70 members across 15,000 square feet in Hong Kong Island. Following the acquisition, Hmlet plans to more than double the number of members in the city by the end of 2018. Said Yoan Kamalski, CEO and Co-Founder at Hmlet, “Hong Kong is a natural next move for Hmlet, and this…

Paidy – the instantly issued post-pay credit account linked to mobile phone number company from Japan, has announced at RISE in Hong Kong a Series C funding round of US$55 million. The investment is being led by ITOCHU Corporation, with participation from Goldman Sachs. Combined with two previous rounds (Series A and B), this increases the total amount of capital raised by Paidy to US$80 million. Paidy started Japan’s first instant post-pay credit service for ecommerce consumers in October 2014. Paidy requires no pre-registration or credit card to use; Paidy consumers purchase products online using only a mobile phone number…

Just six months after its unprecedented Series A announcement of $112M, autonomous vehicle company Pony.ai has raised a follow-on funding round. Co-led by ClearVue Partners and Eight Roads (the proprietary investment arm of Fidelity International Limited), this continuation of funding represents $102M, bringing Pony.ai’s total Series A funding to $214M. In addition to ClearVue and Eight Roads, new investors include Green Pine Capital Partners, China Merchants Capital, Redpoint Ventures China, Adrian Cheng (Founder of K11), and Delong Capital. Existing investors participating in this round include Sequoia Capital China, Morningside Ventures, DCM Ventures, and Hongtai Capital. Notably, both Sequoia and Morningside…

GoBear, an insurance and financial product comparison platform for Asia launches a new product comparison. Mortgage comparisons are now available on the GoBear platform in Hong Kong. It is not easy to afford a property in Hong Kong, yet becoming a property owner in Hong Kong is the priority of many. According to the statistics from the Hong Kong Monetary Authority, the number of mortgage applications in Hong Kong has increased by 8.6% in April 2018, now totaling 14,898 applications per month. Millennials, who are currently 23-37 years old, compose 32% of the total new mortgages in the second quarter…

Block.one, publisher of the EOSIO blockchain software protocol and seller of the EOS Token, announced that former Jefferies Asia CEO Mike Alexander has joined as CEO of its US$1 billion EOS VC venture capital arm. Based in Hong Kong, Alexander will serve as a member of the Block.one Executive Committee. As CEO of the venture business unit, Alexander is responsible for managing both direct venture investments and EOS VC partnerships, with a focus on sourcing and investing in projects developing on the EOSIO ecosystem. EOS VC aims to grow, develop and support the EOSIO ecosystem through venture capital investment, partnership…

During the RISE international tech conference , the 2018 China Internet Report was released exclusively on Abacus, a new media platform from the South China Morning Post (SCMP). Covering twelve industries, this hundred-page report summarizes China’s dynamic internetindustry for international readers. China’s internet is now ubiquitous across the country’s industries and population, and it continues to change and grow. The report includes key information about China’s internet landscape, including lists of Chinese unicorns, the country’s top internet companies and most active investors, and a side by side comparison of the internet population in China and the US. The report begins with…

Abu Dhabi Global Market, the International Financial Centre in Abu Dhabi, and the Hong Kong Monetary Authority signed a co-operation agreement to jointly promote and enable financial services innovation, and accelerate cross-border FinTech business opportunities in Hong Kong and the United Arab Emirates (UAE). With this agreement, ADGM has established strategic FinTech collaborations with eleven leading regulators to advance innovation and FinTech growth globally. Mr Nelson Chow, Chief Fintech Officer of the HKMA and Mr Richard Teng, Chief Executive Officer of the FSRA, sign and exchange the Co-operation Agreement in Hong Kong on 26th of June 2018. The new agreement…

Campfire, a global network of shared spaces founded in Hong Kong, announced Series-A investment reached USD18million, led by Kwai Hung Group, Sa Sa Int’l Holdings Ltd and Fast Global Holdings Ltd, a subsidiary of Rykadan Capital Ltd. Exceeding expectations, the first round also received significant support from notable investors such as Ring Capital Ltd and Potent Assets Ltd. Entering into the Hong Kong market in 2016 with industry-focused Co-working spaces – their popular point of difference within the crowded Co-working sector, Campfire has become the fastest growing Co-working service provider in Hong Kong, as well as the first to expand…

Over the past 2 years, the crypto space and blockchain projects have gained popularity across the globe.  As a result, many dubious players entered the market to get a piece of the crypto pie. It is increasingly difficult for investors to differentiate between legitimate projects and scams. The Crypto Finance Conference addresses these issues. At all CFC events investment opportunities are being presented, but participants and speakers also discuss and address the risks of investing in crypto projects, how to find the right project and what future trends will bring. Based on our experience, we created  a short guide to help…

Potential investors and members of the local startup community at DBS Accelerator Demo Day got a sneak peek at the future of banking, as the founders of 11 startups from Hong Kong and around the world showcased  FinTech solutions to enhance the customer’s digital journey, data analytics, compliance transformation and more. The 11 startups are Avoka, CUBE, cyberProductivity, Dathena Science, DOV-E, FinChat, Fractal Labs, Hyper Anna, Perx Technologies, Privé Technologies, and Squirro. They were selected from more than 180 applicants from around the world, including Hong Kong, Singapore, Israel, Switzerland, the UK and Australia. Their participation in the programme resulted in 26…

AlipayHK and GCash  announced the launch of a cross-border remittance service through their e-wallet platforms, powered by  blockchain technology developed by Alipay, the online payment platform operated by Ant Financial Services Group. Alibpay claims that this is the first blockchain-based cross-border digital wallet remittance service globally, offering a fast, secure, convenient, transparent and low-cost way to transfer money directly between individuals in Hong Kong and the Philippines. Alipay has applied blockchain technology to streamline the remittance process, radically improving the speed of delivery, enhancing transparency of the process and drastically reducing costs while ensuring better security measures when sending money…

Alipay, the world’s largest online, mobile payment and lifestyle platform, operated by Ant Financial Services Group,  announced  last month the addition of two new money market funds to Yu’e Bao, the spare cash management platform within the Alipay app. The new funds, managed by Bosera Asset Management Co., Ltd and Zhong Ou Asset Management Co., Ltd, respectively, will be integrated seamlessly into Yu’e Bao alongside the platform’s one existing money market fund, managed by Tianhong Asset Management Co., Ltd. Users will have the choice of three money market funds with which to generate returns on their spare cash. Guomin Zu,…

The third edition of EmTech Hong Kong, co-organised by MIT Technology Review and Koelnmesse, ended on a high note after two days of stimulating and insightful discussions on the latest breakthroughs in science and technology. Held from 26 to 27 June at Hong Kong Cyberport, EmTech Hong Kong was attended by close to 400 like-minded individuals from 18 countries and regions. This year’s line-up of speakers included some of the brightest minds in the areas of Smart City Management, Machine Intelligence, Big Data Analytics, Genomics, MedTech, Fintech and Cybersecurity. “Cyberport is honoured to co-host the global conference EmTech Hong Kong…

The Hong Kong Monetary Authority (HKMA) announced today recently that the Financial Secretary, on the advice of the Governance Sub-Committee of the Exchange Fund Advisory Committee, has approved the appointment of Mr Colin Pou as Executive Director (Financial Infrastructure) with effect from 29 October 2018. Mr Pou will take over from Mr Shu-pui Li, who will leave the HKMA on resignation for personal reason with effect from the same date. Executive Director (Financial Infrastructure) is responsible for developing the financial market infrastructure, and for enhancing the fintech ecosystem of Hong Kong. He will also be in charge of the Currency…

Smart technology client verification solution provider Know Your Customer (KYC) has received investment of €250,000 from Enterprise Ireland.  The investment will be directed towards growth in key Asian markets, particularly mainland China, Hong Kong and Singapore. Know Your Customer provides digital solutions which quickly and accurately identify and verify companies and individuals prior to client on-boarding.  The comprehensive client identity verification solutions from KYC are making compliance officers’ lives easier by helping with compliance, risk and client on-boarding functions, ensuring companies can accurately and confidently conduct their KYC and anti-money laundering (AML) functions. KYC’s digital solutions maximise compliance teams’ efficiency and capacity,…