Archive
Hong Kong’s Open API Ambitions Expands to the Insurance Sector
The Insurance Authority (IA), Hong Kong’s insurance regulator, is exploring the development of an open application programming interface (API) framework and has established a working group focused on the initiative, Tony Chan, the associate director of policy and development at
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Rapyd Inks Deal to Acquire Hong Kong-Based Neat
Global Fintech-as-a-Service platform Rapyd announced that it has agreed to acquire Hong Kong-based Neat, a cross-border trade enabling platform for small and medium-sized businesses (SMBs) and startups. Terms of the deal were not disclosed, and it is subject to regulatory
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The Next Frontiers of AI and Machine Learning in Data
With data becoming a core business asset for financial companies, artificial intelligence and machine learning (AI/ML) continues to be a focal point in maximising the competitive advantage of this ‘new oil’. This is according to a new study by LSEG
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Tech Investment Platform AngelHub Raises US$3 Million
AngelHub, an SFC-regulated tech investment platform and sister-company of WHub, announced that it has secures US$ 3 million from Animoca Brands and its existing investor Kharis Capital. The new funding will accelerate AngelHub’s deployment in tech companies, grow WHub’s corporate
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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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