Posts From Fintech News Hong Kong
WeLab Plans to Launch Second Digital Bank With Acquisition of Bank Jasa Jakarta
Virtual bank WeLab announced the acquisition of PT Bank Jasa Jakarta (BJJ), a commercial bank in Indonesia, with plans to launch its second digital bank in the second half of 2022 following its successful launch in Hong Kong. Headquartered in
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Hong Kong’s Virtual Banks Set to Amass Over 44,000 SME Customers by 2025
By 2025, Hong Kong’s virtual banks are expected to amass 44,182 small and medium-sized enterprise (SME) customers, a client base that’s set to grow at a compound annual growth rate (CAGR) of 163.6% between 2020 and 2025, estimates Quinlan and
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Virtual Bank Mox Marks 200,000 Customers Milestone
Hong Kong’s virtual bank Mox announced that now has 200,000 customers, doubling its customer base since May. As one of the eight entities that were granted a virtual banking license by the Hong Kong Monetary Authority, Mox had officially launched to
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Card-Not-Present Fraud Escalates Amid Sudden Surge in Online Shopping
The sudden surge in e-commerce activities has brought with it a rapid rise of card-not-present (CNP) fraud, costing e-commerce merchants an estimated US$35.54 billion globally in 2020, a new report by Forrester says. According to the “How to balance risk
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Klook and ZA Form Joint Venture to Offer Travel Insurance
Travel and leisure booking platform Klook and ZA Tech, the technology venture founded by ZA International and backed by Softbank’s Vision Fund 1, announced a joint venture (JV) that will accelerate the availability and accessibility of travel-related insurance for consumers
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The Hong Kong Fintech Week 2021 Ends on a High Note
Hong Kong Fintech Week (HKFW) 2021 ended on November 5, closing a global conference exploring an array of business opportunities for the fintech industry in Hong Kong and across the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). The event which featured
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Regtech to Play Key Role in the Development of Green Finance in Hong Kong
Demand for green finance is surging in Hong Kong but the lack of unified standards or definitions of green financial products is posing regulatory challenges, facilitating greenwashing, damaging investors’ confidence and harming the proper development of the sector. Against this
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Virtual Banks Mox and Livi Grab Top Spots in Regional Mobile Banking Benchmark
The Mobile Banking Benchmark 2021 survey found that Hong Kong’s virtual banks Mox and Livi stood out as regional leaders, though overall a gap between Asian and European players remains. The survey was conducted by management consulting firm Sia Partners
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Airwallex Raises US$100 Million in Series E Extension, Now Valued at US$5.5 Billion
Cross border payments firm Airwallex announced it has secured an additional US$100 million in a Series E1 financing round, raising its valuation to US$5.5 billion. This extension comes just a month after Airwallex announced an oversubscribed US$200 Million Series E
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FIS: Over One-Third of Hong Kongers Open to Use Digital Currencies in the Next 5 Years
35 percent of Hong Kong citizens said they are open to use cryptocurrencies or central bank digital currencies (CBDCs) as a payment method in the next five years, according to new research from FIS. More than 1,000 Hong Kong consumers
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