Hong Kong

Hong Kong Consumer Credit Market Improves Amid Rising Consumption, Economic Rebound

Hong Kong’s consumer credit market improved in Q2 2021 as the local economy continued to rebound from the impact of COVID-19 and private consumption increased 6.5% year-on-year (YoY) increase, according to TransUnion’s Q2 2021 Industry Insights Report. In Q2 2021,

Read More

Hong Kong’s Digital Banks Will Operate at a Loss for at Least the Next 2 Years

Despite advantages including cheaper operational costs and backing from tech firms with deep pockets, Hong Kong’s digital banks will face hurdles in turning a profit. These eight newcomers will have to operate at a loss for at least the next

Read More

6 Upcoming Fintech Online and Hybrid Events in Hong Kong

Earlier this month, the Hong Kong government extended to social distancing measures in place for 14 more days starting August 25. To help prevent the importation of COVID-19 infections and the Delta mutant strain, the government said it will further

Read More

Top 10 Upcoming Fintech Webinars in Hong Kong

The COVID-19 health crisis temporarily halted in-person industry events and conferences, and gave the virtual events industry a hefty boost. Though physical restrictions are being lifted in all parts of the world, virtual events and webinars continue to see strong

Read More

ZA and Mox Leading Hong Kong’s Virtual Banking Race, Capturing 70% of All Deposits

ZA Bank and Mox are leading Hong Kong’s virtual bank race, making up 70% of all virtual banking customer deposits as of the end of 2020, Reuters reported, citing the lenders’ annual reports. Hong Kong’s eight virtual banks accumulated total

Read More

Cyberport-HKIB Regtech Demo Day Showcases Hong Kong’s Booming Regtech Sector

At Regtech Demo Day on March 3 and 4, seven of Cyberport’s fast-growing regulatory technology (regtech) startups showcased their latest fintech solutions to hundreds of industry stakeholders. The two-day event, organized by Cyberport and the Hong Kong Institute of Bankers

Read More

Hong Kong’s Next Phases of Open Banking Presents Exciting Opportunities

Two years into the implementation of open banking and Hong Kong is now heading into Phase III and Phase IV of its strategy, which will see account information and customers’ transactions being made available to third-party providers. As the region

Read More

6 Ways Hong Kong Banks are Using Regtech to Combat Financial Crimes

A new report published by the Hong Kong Monetary Authority (HKMA) looks at six ways banks in the region have used regtech tools for anti-money laundering and combating the financing of terrorism (AML/CFT) purposes. The report, produced in collaboration with

Read More

Cyberport & R3 Identify Potential Blockchain Projects in Block adVenture

Hong Kong digital tech park Cyberport has partnered with R3, a distributed ledger and blockchain software development company, for its accelerator programme Block adVenture where so far 10 teams have been selected. The three-month startup programme focusing on blockchain technology

Read More

6 Developments That Shaped Hong Kong’s Fintech Industry in 2020

Hong Kong’s fintech industry continued to grow in 2020, on the back of rising adoption by incumbents and a rapidly expanding startup community. 86% of banks have adopted or plan to adopt fintech solutions across all types of financial services,

Read More