Wealthtech

WeLab Bank Granted License to Offer Digital Wealth Advisory Services

Virtual bank WeLab has been granted a license from the Hong Kong Securities and Futures Commission (HKSFC) to offer digital wealth advisory services. Having obtained the Type 1 (dealing in securities) and Type 4 (advising on securities) licenses, WeLab had

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Hong Kong’s Former Financial Secretary John Tsang Joins StashAway as Its Advisor

Southeast Asian digital wealth manager StashAway announced that John Tsang Chun-wah, Hong Kong’s former Financial Secretary, has joined its advisory committee. Tsang was the longest-serving Financial Secretary as he held the role from 2007 until 2017. Tsang brings a wealth

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Airwallex Supports Investment App Plum’s Cross-Border Payments and FX Needs

Global fintech platform Airwallex announced its partnership with London-based investing app Plum to support its cross-border payments and FX needs. Airwallex was chosen as Plum’s global payments and FX partner to support the launch of the latter’s new stock investing

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Fintech Firm StockViva Bags US$3 Million in Series A Funding Round

StockViva, a fintech company that provide real time investment analysis and education from key opinion leaders (KOLs), announced that it has raised more than US$3 million in a Series A funding round. The company received the funds from Farquhar VC

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ZA Bank Gets SFC License to Expand Footprint Into the Investment Business

Hong Kong’s virtual bank ZA Bank has received a license from the Securities and Futures Commission (SFC) for Type 1 regulated activity which allows it to deal with securities. The bank claims to be the first local digital-only bank to

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HKMA Unveils List of 19 Eligible Banks for the Cross Border Investment Scheme

The Hong Kong Monetary Authority (HKMA) has released the list of 19 eligible banks in the country which can launch the cross border Wealth Management Connect (WMC) services. These banks, together with their respective Mainland partner banks whose eligibility have

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ZA Rolls Out Fund Service for Retail Investors in Push for Wealth Democratisation

ZA One, an integrated financial services platform under ZA International, has rolled out a fund service for individual investors in a bid to democratise wealth management. Users can now invest via the ZA One app with a minimum subscription fee

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China Kicks off Multibillion Dollar Investment Link With Hong Kong and Macau

China has officially launched the Wealth Management Connect (WMC) with Hong Kong and Macau to carry out cross-boundary investment in wealth management products distributed by banks in the area. The Wealth Management Connect trading scheme will initially handle a total fund

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APAC Wealth Firms Not Keeping Pace With Digital Transformation Are Destined to Fail

Refinitiv released the findings of its Wealth Management report titled “The Gold Standard of Wealth Management: Redefining investor experiences in Asia-Pacific”. The firm recently surveyed over 500 investors in Asia-Pacific to understand how their trading activities, data needs and digital

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LU Hong Kong Launches AI-Backed Robo-Advisor “Lucy” With BNY Mellon

Lufax Holding’s subsidiary LU Hong Kong has partnered with BNY Mellon Investment Management to launch an open robo-advisory platform, offering tailor-made asset allocation solutions through its professional AI investment consultant “Lucy”. The Hong Kong Securities and Futures Commission (SFC) had

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