Archive
Bank for International Settlements (BIS) Appoints Bénédicte Nolens Its Hong Kong Head of Innovation
The Bank for International Settlements (BIS) today announced the appointment of Bénédicte Noella Nolens as head of the BIS Innovation Hub Centre in Hong Kong SAR for a three-year term from 1 July 2020. “I am delighted with Bénédicte’s appointment. Her deep
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APAC Banks Are Backing Open Banking, but What Does ‘Open’ Really Mean?
A survey launched this week by Finastra revealed that close to 100% of financial institutions in Singapore and Hong Kong think Open Banking is important, with two thirds in Singapore calling it a “must have”. Open Banking has not only
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Stripe Opens Tokyo Office After Deepening Partnership with JCB
Stripe, the online payment infrastructure provider powering the likes Amazon, Facebook, Shopify, Zoom, Slack today announced opening of an engineering office in Tokyo, which will focus on building more features and capabilities to meet the specific needs of Japanese businesses.
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How WeChat Pay Determines If You Are Trustworthy With Their Credit Score
WeChat Pay, Tencent’s mobile payments system integrated into the WeChat super-app, has told its users that it will be giving them a credit rating, called “Payment Points.” The system leverages artificial intelligence (AI) and uses users’ data collected from the
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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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Hong Kong Banks Lagging Behind in Openness to Apply New Tech Compared to Virtual Banks
Banks in Hong Kong are embracing fintech, with innovations relating to mobile banking, open banking (APIs), machine learning and predictive analytics, customer identification and authentication, and cloud computing, being commonly applied by over 40% to up to two thirds of
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How Past Lessons in Digital Payments Can Help Banks Navigate in the New Normal
The past couple of decades have seen a complete upheaval in where we buy things and how we pay for them. New technologies have led to huge shifts in consumer behavior and expectation, while businesses have benefitted from faster and
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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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Standard Chartered Spends HK$60 Million to Support the Launch of Fintech Academy with HKU
The University of Hong Kong and Standard Chartered Bank jointly announced the establishment of a Fintech Academy with the latter offering HKD$ 60 million to support the launch of this initiative. The HKU-SCF Fintech academy is said to leverage the
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A Look At How Virtual Reality Is Revitalizing The Economy
Virtual reality (VR) is one of the industries that has seen a boost and will continue to do well. Pundits say virtual reality and augmented reality will cause a significant boost to global economic growth over the next decade. The
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