Hong Kong
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
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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
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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
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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
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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
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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
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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
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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
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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,
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Top 8 Most Well-Funded Fintech Startups in Hong Kong 2020
Hong Kong is amongst the world’s top ten fintech hubs, and home to at least eight unicorns including cross-border payment services provider Airwallex, digital wallet operator TNG Fintech, and online lending platform and virtual bank operator WeLab. Over the past
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