In 2015, Asia’s fintech startups attracted US$4.5 billion in venture capital funding through 130 deals, making the region the second biggest player in terms of venture capital following North America with US$7.7 billion through 378 deals. According to a report by KPMG and CB Insights, 2015 was a record year for Asia. The spike was attributable to a notable rise in US$50 million + deals, which included One97, Dianrong, and BankBazaar, among others. Although the US and Europe have so far led the fintech wave, Asia’s conditions are ripe for fintech, according to a report by Kapronasia, one of the…

The startups will undergo a 12-week mentorship programme led by senior financial executives in a series of workshops at the Hong Kong-based tech business park Cyberport to commercialise their products. 8 leading financial technology (fintech) companies today begin a 12-week mentorship program in the third annual FinTech Innovation Lab Asia-Pacific. The startups participating in this year’s Lab have developed a range of innovations – from wealth management solutions that are precisely oriented to customers’ investment intents, know your customer (KYC) services that leverage blockchain technology and a fraud prevention program using algorithms based in Chinese-characters to help financial institutions flag risk.…

In contempt of the advanced banking systems and financial platforms offered by the city’s multi-billion dollar banks and financial institutions, a substantial portion of the Hong Kong population currently utilizes non-bank payment platforms and applications to send cross-border payments and settle international transactions efficiently. Considering the diversity of Hong Kong’s startup ecosystem and payment infrastructures, a lot of local users still prefer to use conventional payment apps that are based in Europe and the US. However, there are a significant number of users that prefer local payment apps due to its low fees and advantages for Hong Kong-based users. Five…

Over the past few years, the fintech industries of south and northeast Asian countries including Hong Kong, Singapore, and China have demonstrated rapid growth and development, creating some of the most established and innovative Crypto and blockchain startups in all of Asia. Hong Kong in specific led the growth of the blockchain market in northeast Asia, with its friendly regulatory frameworks and policies for digital currency and blockchain-focused platform providers. Here are 6 Hong Kong-based blockchain platforms and startups you must be aware of. OK Link Founded by OK Coin’s Star Xu, OK Link is a blockchain-based payments and infrastructure…

8 Securities, a leading fintech firm in Asia, today announced the upcoming launch of Asia’s first robo-advisor mobile app Chloe in Hong Kong. The minimum investment amount with Chloe will be under HK$1,000. In addition, customers will have the freedom to deposit or withdraw money from their portfolio anytime and with no penalty at all. The app helps users set financial goals based on their life stage and income, and help them achieve their goals. Powered by artificial intelligence (AI) and machine learning technologies developed in-house, Chloe will learn day by day as its user base and database grow to…

Finovate Asia in Hong Kong: Since 2007, Finovate conferences have showcased new innovations in banking, investment, insurance, lending, payment solutions and other financial services technology. At Finovate, selected startups and companies always did their best to impress a passionate crowd of more than 1,000 fintech innovators who are excited to see the future of fintech debut via their seven-minute presentations (no slides or pre-recorded videos are allowed). Finovate is a conference series focused exclusively on showcasing the best and most innovative new financial and banking technologies. Finovate has consistently attracted large, high-impact audiences of senior financial and banking executives, venture…

In the race to become Asia’s fintech hub, Singapore and Hong Kong are undeniably the two most well placed to claim the title. Singapore and Hong Kong, two of the Four Asian Tigers, are global financial centers which rely on a major capitalist service economy. Low taxation, free trade and specialization in areas of competitive advantage, have helped turn these locations into advanced and high-income economies, earning them the title world-leading international financial centers. Singapore, a gateway to Southeast Asia, has carved out its competitive niche as a destination for regional headquartered, branch offices and holding companies. With one of…