Hong Kong


ITF to become “the world’s first fintech bank”

A new bank, Into the Future (ITF), is gearing up for launch in Hong Kong and Singapore. Among its investors is Jim Rogers, an American businessman based in Singapore and the co-founder of the Quantum Group of Funds (which he started with George Soros).

Hong Kong’s SFC unveils regtech sandbox

Hong Kong’s Securities and Futures Commission (SFC) has launched its SFC Regulatory Sandbox to provide a place for firms to test out their ideas. Like other regulators, the SFC says: “For the sake of market integrity and better investor protection, the reliability of the delivery of such financial services as well as the firms’ internal […]

Hong Kong regulator’s no phoney for banking plans

The Hong Kong Monetary Authority (HKMA) has unveiled a number of initiatives as it looks to improve the region’s use of payments, APIs and innovation. In a speech delivered during the Annual Banking Conference of the Hong Kong Institute of Bankers, Norman Chan, chief executive of the HKMA, outlined its grand ambitions. Chan says: “The […]

CK Hutchison and Ant Financial form JV for Hong Kong payments plan

Conglomerate CK Hutchison and Ant Financial have formed a joint venture (JV) to offer a digital wallet under the AlipayHK brand, with the aim to integrate online and offline payments in Hong Kong. Ant Financial says AlipayHK got over 100,000 active users in the first two weeks after its launch last May. The mobile app […]

HSBC and friends team up for integrated SME accounting

HSBC is expanding its existing bank feed services with the launch of a new online tool that enables SMEs to establish a data feed from their bank account to their accounting software. Its customers can now connect their bank accounts to their choice of accounting package – namely Xero, Sage and Intuit. Nadya Hijazi, global […]

Swift’s gpi powers DBS cross-border payments tracking debut

Corporates and SMEs in Singapore and Hong Kong can now track their cross-border payments via DBS, using Swift’s global payments innovation (gpi). DBS says it is the first bank in the two countries to execute cross-border payments with end-to-end tracking, “helping corporates and SMEs become more efficient in their cash management”. In the past, DBS […]

Dubai and Hong Kong hug for fintech innovation

The Dubai Financial Services Authority (DFSA) and the Securities and Futures Commission (SFC) in Hong Kong have entered an agreement to establish a framework of co-operation for fintech innovation. Both authorities will share information on developments and the agreement “also intends to encourage both regulators to refer innovative firms to one another’s markets and to […]

Symphony Communication Services makes its Asia debut

Hong Kong-headquartered capital markets and investment group CLSA has deployed Symphony Communication Services collaboration platform across its entire business. The roll-out of Symphony to CLSA’s 1,900 employees is its largest deployment to date by an Asia-headquartered firm. CLSA joins a community who connect on Symphony, comprised of over 220,000 corporate users from 190 firms. CLSA […]

Hong Kong regulator grins thanks to financial inclusion wins

The Hong Kong Monetary Authority (HKMA) is in a happy mood as the region’s financial inclusion initiatives are progressing well. Norman Chan, HKMA chief executive, visited three retail bank branches in northern Tin Shui Wai area of Hong Kong today (17 August) to understand the situation of branch services from bank representatives and staff, and […]

LGT in regtech revamp with Wolters Kluwer

Liechtenstein’s private bank and asset manager LGT is working on a regtech project with Wolters Kluwer. LGT is implementing the vendor’s OneSumX platform for the regulatory reporting and risk management of its Asian operations – in Singapore and Hong Kong.

Hong Kong kicks off fintech career accelerator scheme

Fintech is coming on strong in Hong Kong with the unleashing of a career accelerator scheme to tap into the juicy veins of young blood. The Hong Kong Monetary Authority (HKMA) and the Hong Kong Applied Science and Technology Research Institute (ASTRI) have launched their Fintech Career Accelerator Scheme (FCAS) induction day today (27 July), […]

Australia and Hong Kong get it on for fintech innovation

The Hong Kong Securities and Futures Commission (SFC) and Australian Securities and Investments Commission (ASIC) have signed a co-operation agreement for financial innovation. Both parties play up their “already close ties” and the Australia-Hong Kong trade and investment relationship “more broadly”. ASIC says Hong Kong is Australia’s seventh most important destination for services exports, valued […]

Hong Kong regulator unveils private wealth management charter

Fair play is on its way as Hong Kong’s Private Wealth Management Association (PWMA) has adopted the “Treat Customers Fairly Charter for Private Wealth Management Industry”. Developed by the Hong Kong Monetary Authority (HKMA) and the PWMA, the charter has five “high-level principles” and examples of measures to guide PWMA members in their implementation. These […]

Hong Kong launches IPO support system for start-ups

Hong Kong is looking to boost its fintech scene with an initiative to help tech firms take the right road for their initial public offering (IPO). Hong Kong Science and Technology Parks Corporation (HKSTP) and Hong Kong Exchanges and Clearing (HKEX) have launched their “Road to IPO” platform. It’s not purely for fintech as the […]

UK regulator calls for freedom not free-for-all

Like that lacklustre movie Braveheart, the UK’s Financial Conduct Authority (FCA) says you will never take away our freedom and the chances of a free-for-all for regulations will never happen. In a speech that had more repeats than the UK TV channel Dave, Christopher Woolard, FCA’s executive director of strategy and competition, told the audience […]

Hong Kong government pressured to keep up in fintech race

Hong Kong’s government has come under fire for perceived failings in the further development of fintech in the region. The Financial Services Development Council (FSDC) today (9 May) has released two research reports that look at the fintech scene in Hong Kong and it urges the government to step up the action. Chairperson of the […]

Nasdaq revamps Hong Kong Exchanges and Clearing tech

Hong Kong Exchanges and Clearing (HKEX) has chosen Nasdaq to upgrade the technological infrastructure of Hong Kong’s main derivatives market, including trading, clearing and real-time risk management technologies. The agreement also extends the existing relationship for an additional five years. HKEX and Nasdaq have been technology partners since 1994. Under the new agreement, Nasdaq will […]

Banking Technology March 2017 issue out now

The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.

Blockchain and Bitcoin round-up: 22 February 2017

Jargon defeated. Unnecessary words deleted. A brief round-up. Featuring Adel, Bitfinex and crime. If something’s rotten in the state of Denmark, it’s going to get found out. Danish newspaper Berlingske has revealed that police stopped drug traffickers by tracing Bitcoin transactions. It’s not the first time great Danes have done good deeds. Last month, the […]

Input Output’s Ouroboros protocol plots Bitcoin 2.0 prize

Input Output Hong Kong (IOHK), a blockchain architecture and development start-up, has built a proof-of-stake protocol as it seeks to create a “better” Bitcoin, aka Bitcoin 2.0. The protocol, called “Ouroboros”, is a consensus algorithm designed to be a foundation for blockchains that “improve” user governance, system maintenance, transaction processing speeds and blockchain scalability. IOHK […]