In this exclusive interview at Money20/20 Asia, Vincent Fong, Chief Editor of Fintech News Network, sits down with Bank Negara Malaysia’s Deputy Governor Adnan Zaylani for an in-depth look into Malaysia’s fintech policy and regulatory landscape. We cover everything you need to know, including: Bank Negara’s long-term vision for fintech and digital finance How Malaysia is advancing cross-border real-time payments across ASEAN The evolution and future of Malaysia’s Fintech Sandbox The launch of the new Digital Insurer and Takaful Operator (DITO) licensing framework Progress and next milestones for Malaysia’s digital banks How Malaysia is championing value-based finance and Islamic finance…

In this in-depth discussion moderated by Vincent Fong (Fintech News Network), top leaders from KAF Digital Bank, Bank Islam, AWS, and Audax explore how Malaysia is shaping the future of Islamic digital banking — and where the gaps and opportunities lie. Malaysia’s global leadership in Islamic finance Why the future of Islamic finance lies in wealth creation, not just credit How the next chapter of Islamic finance needs a complete reimagining Speakers: • Rafiza Ghazali, CEO, KAF Digital Bank • Farilla Abdullah, Group Chief Digital Officer, Bank Islam • Taruni Ramamurthi, Head of FSI : Indonesia, Malaysia & Philippines, AWS…

BOOM, a Hong Kong-based online investing platform for high-net-worth individuals, announced on 12 March 2025 that it exceeded $2 billion in assets under management, marking a significant milestone in its growth. As BOOM hits $2 billion in AUM, the company anticipates substantial profit expansion in the coming years. According to Boom, the platform provides access to 18 international markets, offering over 50,000 equities and support for 10 currencies within a single account. As part of its growth strategy, BOOM is expanding into digital assets. This includes adding cryptocurrencies and tokenised securities in response to increasing customer demand for new investment…

The push for Hong Kong AI development received a significant boost this week with a HK$200 million (US$25.74 million) donation from the Ng Teng Fong Charitable Foundation and Sino Group. According to the China Daily, the funding will accelerate the advancement of the city’s first homegrown AI language model, HKGAI V1, particularly in developing a mobile application for public use. The donation, announced at a ceremony held at the Central Government Offices in Admiralty on 10 March 2025, underscores Hong Kong’s commitment to positioning itself as a leader in AI innovation. The event was attended by Paul Chan Mo-po, Financial…

Chinese retail traders are rapidly adopting DeepSeek AI trading tools, signalling a significant shift in the country’s investment landscape. This trend is interesting, given the government’s previous crackdown on computer-driven quantitative trading and highlights growing interest in AI-driven investment strategies, reported Reuters. DeepSeek, backed by the hedge fund High-Flyer, emerged as a key player. Known for its cost-efficient large language model, DeepSeek has not only influenced stock market movements but also reshaped public perception of quant funds in China’s US$700 billion hedge fund industry. Investors are now turning to DeepSeek for its ability to help evaluate companies, pick stocks, and…

Episode Six secures strategic investment from Japan Airlines (JAL), according to an announcement on 5 March 2025 from the former, a global provider of ledger and card infrastructure. This investment will support Episode Six’s growth while helping JAL enhance its financial services, including JAL Pay, the core payment feature within JAL’s ecosystem, and expanding new services for JAL’s 30 million customers. The announcement was made during a signing ceremony at Episode 6 (E6)’s headquarters in Austin. John Mitchell, co-founder and CEO of E6, said, “We are excited to strengthen our collaboration with JAL, both as a most valued customer and…

After two decades of building AI systems—from defense projects to billion-dollar banks—Foong Chee Mun has seen it all. In this episode, the Ryt Bank Chief Product Officer joins us to cut through the AI hype and reflect on what this technology really means for society, creativity, and the future of financial services. This is not a conversation about the flashiest tools or latest models. It’s a grounded take on how AI, like any other tool, can be used for better—or worse. Highlights: What career advice can you give your kids when AI takes over all the jobs? How Much of…

Invest Hong Kong (InvestHK) announced on 10 March 2025 that both of its flagship events, Hong Kong Fintech Week 2025 and the StartmeupHK Festival will be converged to mark their respective 10th anniversaries. The joint event will take place from 3 November 2025 to 7 November 2025 at the Hong Kong Convention and Exhibition Centre and other locations across the city. Hong Kong Fintech Week 2025 will focus on technology and its impact on business, highlighting Hong Kong’s role as an international financial hub and startup centre. In 2024, the number of startups in Hong Kong increased by 10%, with…

In 2024, Ant Insurance, the online insurance brokerage platform of Ant Group, processed 7.25 million health claims, marking a 55% YoY increase. Total health claim payouts through the platform reached RMB 9.2 billion (USD 1.3 billion). The growth reflected the rising demand for health insurance in China, driven by increasing healthcare needs and demographic changes. China’s aging population is a key factor in expanding the health insurance market. By 2035, over 400 million people, or approximately 30% of the population, will be 60 or older, according to projections from China’s National Health Commission. As healthcare needs grow, commercial health insurance…

Join us for an insightful webinar on “The Rise of Cognitive Banking: How AI is Redefining Financial Services”, hosted by Fintech News Singapore. This webinar will explore how AI-powered cognitive banking goes beyond basic personalisation by anticipating and adapting to customers’ financial behaviors to enhance their financial wellness. The result? Stronger customer loyalty and increased adoption of financial products. The webinar will also feature key insights from the global survey “Understanding Consumer Demand in the AI-Banking Era.” We’ll reveal how, amid the growing demand for AI-driven, contextualised insights, more than half of customers in APAC would likely switch banks to…

Ping An Insurance (Group) Company of China, Ltd. has launched its 2025 Spring Campus Recruitment, offering over 2,000 positions across various fields. Central to this initiative is Ping An Talent, the company’s self-developed AI-powered recruitment system, introduced on March 4, 2025. The system promises greater efficiency and fairness in hiring by leveraging artificial intelligence for job matching, interviews, and salary negotiations. With over 10 subsidiaries participating, Ping An is recruiting talent in business, investment & financing, technology, product, and operations, as part of its “integrated finance + healthcare and senior care” strategy. But as AI takes a larger role in…

Hong Kong Exchanges and Clearing Limited (HKEX) announced on 4 March 2025 that it signed a Memorandum of Understanding (MOU) with CMU OmniClear Limited (CMU OmniClear) to boost the Hong Kong post-trade securities infrastructure. The partnership aims to enhance Hong Kong’s post-trade securities infrastructure and support the growth of the city’s fixed-income and currencies (FIC) ecosystem. CMU OmniClear and HKEX will work together to explore ways to improve cross-asset efficiencies in equities and fixed income, expand the use of Mainland bonds as collateral, strengthen Hong Kong’s role as a bond issuance hub, and develop an international central securities depository (ICSD)…

PAO Bank Limited (PAObank) has received its Insurance Agency Licence from the Insurance Authority and signed strategic partnership agreements with China Ping An Insurance (Hong Kong) Company Limited (Ping An) and FWD Hong Kong (FWD) on 5 March 2025. With this, PAObank is introducing both general and life insurance services. PAObank has partnered with Ping An in a bancassurance collaboration, drawing on their expertise in general insurance. Together, they will offer a range of products, including motor, travel, and home insurance, to meet the diverse protection needs of customers. PAObank has also expanded its partnership with insurer FWD after successfully launching…

Fintech solutions provider iFAST HK launches self-service accounts in Hong Kong, catering to the growing demand for independent wealth management among family offices and corporations. This move comes as Hong Kong’s family office sector experiences significant growth, with over 2,700 single-family offices operating in the city as of March 2024, reflecting a clear shift in wealth management preferences. Traditionally reliant on private banks, these family offices are increasingly seeking greater autonomy and control over their investments. In response to this evolving demand, iFAST, leveraging its over two decades of experience supporting intermediaries and institutional clients, is actively expanding its services…

Wise, a global technology company in international money management, launched its international business account in Hong Kong on 3 March 2025. The Wise Hong Kong business account will allow small and medium-sized enterprises (SMEs) in the city to pay, receive payments, and manage over 40 currencies, making it easier for them to grow their businesses internationally. A study from Edgar Dunn & Company, commissioned by Wise, surveyed over 200 finance decision-makers in Hong Kong SMEs and found that 96% had made or received cross-border payments in the past six months. Over half (52%) said they handle these transactions weekly. This…

OSL Digital Securities (OSL), a regulated digital asset platform and part of OSL Group (863.HK), announced the launch of the ChinaAMC HKD Digital Money Market Fund on 28 February 2025, the first retail tokenised fund available in Hong Kong. China Asset Management (Hong Kong) (ChinaAMC HK) issued the fund, which the Securities and Futures Commission (SFC) approved for retail distribution, and it debuted on OSL’s platform. Standard Chartered Bank (Hong Kong) serves as the tokenization agent, digital platform operator, and administrator for the fund, while Standard Chartered Trust (Hong Kong) is the custodian. The ChinaAMC HKD Digital Money Market Fund…

American Express and Alipay introduced a new payment feature that allows eligible global American Express Card Members to link their cards to the Alipay digital wallet on 25 February 2025. This American Express Alipay integration enables payments at merchants across mainland China. American Express is the first foreign payments network licensed to clear Renminbi transactions in China. Through its joint venture, Express (Hangzhou) Technology Service Company, it has partnered with over 30 Chinese banks, third-party payment institutions, and mobile wallet operators to expand card acceptance. With this integration, international travellers can use their American Express Cards for transactions through Alipay…

Alibaba Group (9988.HK) revealed plans to invest over 380 billion yuan (US$52.44 billion) into its cloud computing and artificial intelligence infrastructure by 2028, marking a significant push to strengthen its position in these sectors. According to a Reuters report released on 24 February 2025, the Alibaba cloud investment announcement follows the company’s earlier hint of future investments in AI during its quarterly earnings report last week. During the December quarter, Alibaba reported revenues of 280.15 billion yuan. The newly revealed Alibaba cloud investment will exceed what the company has spent on these technologies over the past decade combined, said Alibaba…

The Securities and Futures Commission (SFC) recently participated in a series of dialogues under the International Organisation of Securities Commissions (IOSCO) Asia-Pacific Regional Committee (APRC). Chaired by Ms. Julia Leung, Chief Executive Officer of the SFC, the IOSCO Asia-Pacific Regional Committee (APRC) convened in Vietnam from 19 to 21 February 2025 for a three-day meeting to strengthen regional collaboration on shared priorities. Members committed to a coordinated approach to combat scams and online harm, while exchanging insights and strategies for detecting and investigating investment fraud. The committee also explored leveraging technology’s transformative potential to address emerging challenges in the financial…

WeLab Bank has taken a significant step forward in its AI deployment strategy by exploring innovative solutions to enhance customer service and operational efficiency, according to a report by The Standard on 20 February 2025. The bank’s focus on adopting practical AI applications aims to address specific challenges while ensuring data security and compliance with local regulations. WeLab Bank’s CEO and executive director, Tat Lee, said that large language models like ChatGPT, while powerful, have limited use in Hong Kong’s banking sector due to network instability and high operational costs. He noted that using these models through VPNs often results in…