Covid19

Cyberport’s Incubatees PortfoPlus and 10Life Aim to Simplify Insurance

Hong Kong’s insurance industry worth US$66 billion (HK$552 billion) in the past years has provided a fertile ground for the digitalisation push by innovative insurtech startups in the region.  The current pandemic has created a positive shift to accelerate digital

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Majority of Hong Kongers “Annoyed” with the Way Banking Transaction History Works

Recent research by gini, shows 66.7% of respondents feel their bank should be doing more to improve online services during the pandemic, with one of the major pain points being the lack of clarity in the way information is displayed

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Millennials Most Targeted Group by Hong Kong Digital Fraudsters

The quarterly analysis of online fraud trends in Hong Kong by TransUnion found the percentage of suspected fraudulent digital transactions originating in Hong Kong fell by 10% despite a 5% rise globally for the same period. In this quarter, TransUnion

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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 a new report by S&P Global Market Intelligence. The Japanese government launched a cashless incentive program last year to sustain

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Fintech Funding Hitting Record Lows Amid COVID-19 Crisis

The COVID-19 outbreak has taken a toll on startup funding with fintech investment dropping to levels not seen since 2016 and 2017, according to CB Insights’ State of Fintech Q1’20 Report. Q1’20 VC-backed fintech activity declined to US$6.1 billion across

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3 Things You Should Know About Hong Kong’s SME Export Marketing Fund

With businesses scrambling to recoup their losses due to the recent pandemic, digital e-commerce wasn’t left unscathed. Hong Kong’s small and medium-sized enterprises (SME), which rely on online marketing, mobile money, and government resources to sell products internationally, have had

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Lending Activity Decreases and Loan Defaults on The Rise in Hong Kong Amid COVID-19

The newly-released TransUnion Q1 2020 Industry Insights Report shows that COVID-19 has severely amplified the impact of the 2019 Hong Kong recession, and started to shape the consumer credit market in a number of distinct ways. With economic conditions worsening

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