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A Snapshot of Fintech in Hong Kong in 2019

Hong Kong is expected to see a boost in fintech activity after a relatively disappointing year in 2018 as the region saw a sharp dip in the total value of investments. According to Accenture, this was due to new measures

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Tencent’s Fintech & Cloud Unit Generates US$ 3.1 Billion in Q1 of 2019

In their quarterly results announcement, Tencent revealed that its fintech and cloud services generated RMB21.8 billion (US$ 3.1 Billion) in the first quarter of 2019, a 44% year-on-year growth. This quarter marks the first time the Chinese internet giant is

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Cyberport Chairman Reveals Secret Sauce to Growing 350 Fintechs in Just 3 Years

“Everything you do in a fintech startup, you’re likely testing the law, one way or another,” said Cyberport’s chairman Dr. Lee George Lam about fintech in the technology hub he stewards. “If you want to move out of the box,

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InvestHK Teases a Bigger and Better Hong Kong Fintech Week 2019

InvestHK recently dropped hints that we should be expecting a significant expansion of the annual Hong Kong Fintech Week. Anticipating to pull in a larger audience than last year’s 8,000 attendees, the agency stated they needed to host the event

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The First 3 Recipients of HKMA’s Virtual Banking License Have Been Announced

The Hong Kong Monetary Authority (HKMA) announced today that three companies have been granted virtual banking licences: Livi VB, SC Digital, and ZhongAn Virtual Finance. As rumoured in our previous report, some of the companies granted licenses are joint ventures that include

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Neat Reveals One Key Problem With HKMA’s Virtual Banking License and Why They Won’t Bother

The Hong Kong Monetary Authority (HKMA)’s decision to set up the virtual license is often seen as a strategic move, if a tad overdue. Reportedly, the regulator saw over 29 applications, which rumour has it, includes companies like Ant Financial,

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DocDoc Secures Investment from Cyberport Macro Fund

DocDoc, a patient empowerment platform recently announced that it secured strategic investment from Cyberport Macro Fund . Following this investment round DocDoc will be opening a new office in Hong Kong’s Cyberport This recent investment from Cyberport brings the total

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4 Out of 5 of Customers Don’t Think Banks Know What They Need

According to a study conducted by JD Power, 54% of customers don’t fully trust their primary banks, which the study marks as notable sinceconsumers often consider banks their trusted adviser for financial planning. The study finds that four in five

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HKMA is Rumoured to be Granting Virtual Banking Licenses to China’s Fintech Giants

Since its announcement in early 2018, HKMA’s virtual banking license has attracted strong interest from the industry to seek regulatory approval to operate a virtual bank. It is reported that within a short time frame the regulator saw over 29

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8 Trends Shaping the Future of Retail Banking in Asia

Retail banking, also known as consumer banking, is on the cusp of a new era of amazing growth and opportunities. Asia will reach over US$900 billion in retail banking revenue by 2020, growing at about 14% per year, according to

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