Digital Transformation
Redefining Resilience for Banks in the Digital Era With the Four Zeros
The banking industry stands at the brink of a major transformation, driven by rapid technological advancements and changing customer expectations in a dynamic digital landscape. This transformation is not without its challenges, as banks grapple with the critical task of
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Top Trends in Banking in 2024 According to HKMA
The banking landscape is expected to witness significant changes in 2024, influenced by technological advancements, regulatory initiatives and shifting consumer preferences. New reports released by the Hong Monetary Authority (HKMA), French consulting firm Capgemini and tech corporation IBM explore the
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Hong Kong Allocated HK$200B to Advance Key Sectors Including Fintech and AI
The Hong Kong government is actively working to establish the city as a fintech hub through various strategic initiatives. Significant investments have been made, with HK$200 billion allocated to innovation and technology development in recent years. Specific plans were highlighted
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Asian Financial Forum 2024 to Be a Beacon of Finance in Turbulent Times
The financial epicentre of Asia is poised to resonate once again with the vibrant synergy of leaders, innovators, and visionaries at the 17th iteration of the Asian Financial Forum (AFF), returning to the bustling cityscape of Hong Kong on the
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Central Banks Balance Innovation with Stability in the Age of Digital Currency
Innovation has severely rattled monetary systems as emerging technologies rapidly transform how money and finance operate globally. The landscape of monetary systems is at a crucial crossroads, marked by the dual forces of technological progress and the accompanying challenges that
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SFC Introduced Virtual Asset Trading Platform Lists
The Securities and Futures Commission (SFC) recently launched multiple lists regarding virtual asset trading platforms (VATPs) on its website. This aligns with the SFC’s commitment to providing clear and transparent information to the public. Among the lists are licensed VATPs,
Read MoreThought Machine’s Modern Core Enables Nikel to Close the Small Business Credit Gap
Thought Machine, a cloud-native banking technology company, has empowered Nikel, a fintech startup that unlocks credit for millions in Southeast Asia, to streamline its lending process and develop new products more quickly. Founded in 2018, Nikel which rebranded from Impact
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Digitalisation of Financial Services in Hong Kong Comes at a Cost
In Hong Kong, the digitalisation of financial services has expanded financial inclusion through the increasing usage of digital channels and innovations, open banking, as well as advancements in data collection and analytics. But despite the positive outcomes, digitalisation may also
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Purposeful Coexistence in Your Journey to a Digital Core
The costs and complexity of legacy banking technology have firmly established the need for financial institutions to modernise their systems. Banks must move away from legacy infrastructure that constrains innovation and prevents them from providing the real-time, personalised banking experiences
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Transforming the Future of Banking Through Cloud and Open-Source Technologies
The banking sector has undergone a significant transformation thanks to the introduction of cloud and open-source technologies. Previously, banks relied on legacy systems and proprietary software, resulting in operations being siloed, scalability being limited, and high costs. However, with the
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