Archive
Over 80% of Banks in Hong Kong Plans to Increase Investment in AI Within 5 Years
Banks in Hong Kong have been integrating artificial intelligence (AI) into various key functional areas in a bid to reduce costs and improve customer experience, according to an industry-wide survey conducted by Hong Kong Monetary Authority (HKMA). In a report
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What is the Game Plan for Hong Kong’s Virtual Banks?
In Hong Kong, virtual banking is bringing in new opportunities to serve the financially underserved, a segment new entrants including WeLab Bank, Airstar Bank and Mox by Standard Chartered, are actively pursuing. Despite being a leading financial center, Hong Kong’s
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Banks Must Gear Up for Upcoming Data-Intensive Era, Experts Say
Changing customer expectations, the rise of big techs, and COVID-19 are accelerating banks’ digital transformation, forcing them to upgrade their infrastructure to meet the requirements of the data-intensive era, experts said. At the Huawei APAC FSI Data Storage Summit virtual event, experts
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HK Fintech Market Sentiment Remains Stable Despite COVID-19 and Social Unrest
Despite the protests and the COVID-19 pandemic, the Hong Kong society has maintained a positive sentiment on the growth prospect of the city’s fintech industry, according to the Hong Kong Fintech Buzz Index (FBI). The Hong Kong FBI, a quarterly
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SFC Issues Approval-In-Principle to OSL for Virtual Asset Trading Platform
Hong Kong’s Securities and Futures Commission (SFC), has issued an approval-in-principle for OSL, Asia’s digital asset platform and member of BC Technology Group, to operate a virtual asset trading platform. The platform will be operated under a license for Type 1
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Digital Risks Of Mobile Apps Are On The Rise
Recently, a security firm looked into the apps available on Google Play Store and the App store stated that over 85% of those apps violates at least one security risk. About half of these applications had insecure data storage or
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Hong Kong Based Neat Raises US$4M in Series A Extension
Neat, a Hong Kong-based fintech startup, announced that it has raised a US$4 million extension to their US$11 million Series A round which closed in April 2020. The company provides an online company incorporation package and fully-digital multi-currency wallet to
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BC Group Acquires Blockchain Portfolio Management Platform From Enuma Technologies
BC Technology Group, a digital asset and fintech company as well as the parent company of OSL, announced that it has acquired the core intellectual property assets of blockchain engineering firm Enuma Technologies, and on-boarded the Enuma team, including CEO
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Hong Kong’s Eight Virtual Banks: The Progress So Far
The Hong Kong Monetary Authority (HKMA) granted eight virtual banking licenses in the first half of 2019, and at the time, the regulator and the operators expected services to commence within the next six to nine months. Now more than
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Crypto.com Appoints Steven Kalifowitz as new Chief Marketing Officer
Hong Kong based Crypto.com announced that it has named Steven Kalifowitz as its Chief Marketing Officer. Kalifowitz was most recently the president of Localize.city, growing it from a seed-stage startup in 2017 to one of the most quoted brands in
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