Tag "Hong Kong"

Virtual Banks Could Serve a Quarter of Hong Kong’s Population by 2025

By 2025, virtual banks could be serving a total of 1.9 million customers, or 24.9% of the Hong Kong population, and hold a combined revenue market share of 19.3%, estimates Quinlan and Associates. Though not insignificant, the consulting firm forecasts

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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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Redefining Finance for Good: HK’s Chong Hing Bank Sees Digital Shift for Older Customers

Around the world, the COVID-19 crisis has forced banks and their customers to turn to digital tools and processes to compensate for branch and office closures. Many industry participants believe that the digital acceleration taking place today will have a

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15 Fintech Startups From Hong Kong to Watch Out for in 2021

Hong Kong is currently home to more than 600 fintech companies with 76% of them focusing on the business-to-business (B2B) market. These companies leverage technologies including big data, artificial intelligence (AI), blockchain, insurtech, regtech, credittech, and wealthtech to serve the

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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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Wealthtech Firms Make Their Moves in Hong Kong

With shifting demographics, higher expectations and favorable regulations, wealthtech has become a rapidly growing industry around the world. In Hong Kong, the wealthtech industry is gathering more momentum this year with several notable developments being recorded since the beginning of

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An Overview of Digital Wallets in Hong Kong in 2020

Hong Kong has been pushing for greater development and adoption of digital and mobile payments with the Hong Kong Monetary Authority (HKMA) beginning issuing stored value facilities (SVF) licenses in 2016 and virtual banking licenses in March 2019. Over the

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A Review of Hong Kong’s Fintech Developments in 2019

Hong Kong, one of the world’s leading international financial centers, has a burgeoning fintech ecosystem with more than 600 companies, a large pool of investors and acceleration programs, and a supportive government that has committed to establishing a favorable environment

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Deloitte Names Hong Kong’s Fastest-Growing and Most Promising Tech Companies

Deloitte has announced its selection of this year’s winners of the Hong Kong Technology Fast and Rising Star Program, which recognizes the fastest-growing and most promising technology companies in Hong Kong, as well as the two winners of the Hong

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News Roundup: Hong Kong Fintech Week 2019, Product Launches and More

Last week, the Hong Kong Fintech Week returned for its annual week-long fintech gathering. The event, which brought together more than 8,000 attendees for one of the region’s biggest fintech events, was the opportunity for industry stakeholders to make some

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