Sponsored Post Archives - Fintech Hong Kong https://fintechnews.hk/sponsored-post/ - FintechNewsHK Mon, 10 Nov 2025 09:45:14 +0000 en-US hourly 1 Hong Kong Fintech Week x StartmeupHK Festival 2025: United for a Decade of Innovation and Scaling https://fintechnews.hk/36352/hong-kong-fintech-week-news/hong-kong-fintech-week-2025-highlights/ Tue, 11 Nov 2025 01:00:24 +0000 https://fintechnews.hk/?p=36352 The ​Hong Kong Fintech Week x StartmeupHK Festival (HKFW x SMUF) 2025 concluded on 7 November 2025, following a dynamic week of activities that began with a two-day main conference held on 3 November 2025 and 4 November 2025. The event brought together government officials, regulators, innovators, and industry leaders from around the world for [...]

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]]> The ​Hong Kong Fintech Week x StartmeupHK Festival (HKFW x SMUF) 2025 concluded on 7 November 2025, following a dynamic week of activities that began with a two-day main conference held on 3 November 2025 and 4 November 2025.

The event brought together government officials, regulators, innovators, and industry leaders from around the world for a series of panels, keynote speeches, and strategic discussions. The joint celebration of two flagship events reaffirmed Hong Kong’s commitment to advancing the digital economy.

The entire week attracted a record high of over 45,000 visitors from over 120 economies and featured over 1,000 distinguished speakers, over 800 exhibitors, and more than 30 Chinese Mainland and international delegations.

The event was organised by the Financial Services and the Treasury Bureau, the Commerce and Economic Development Bureau, and Invest Hong Kong (InvestHK), in collaboration with the Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission (SFC), the Insurance Authority (IA), and the appointed event organiser, Finoverse.

Celebrating a Decade of Excellence

hong kong fintech week 2025 highlights
Source: InvestHK

At the inaugural convergence of the two flagship events, the Chief Executive, John Lee, officiated at the opening of the main conference.

The main conference showcased 11 themed forums. These included the Policy Forum, Visionary Forum, Insurtech Forum, Healthtech Forum, Wealth & Investment Management Forum, Digital Finance Forum, Digital Assets Forum, Blockchain & Web3 Forum, AI & Advanced Tech Forum, China-Global Innovation Forum, and TechX Forum.

Deputy Governor of the People’s Bank of China, Lu Lei, attended the main conference and highlighted the fintech collaboration between the Chinese Mainland and Hong Kong, which has driven advancements such as interoperable cross-boundary payments and e-CNY use cases, unlocking new efficiencies.

He emphasised the importance of payment innovation, promoting connectivity and fostering integrated economic development between the Chinese Mainland and Hong Kong. This comes as China charts its 15th Five-Year Plan and reaffirms Hong Kong’s role as an international financial centre.

Lu noted the continuous expansion of the RMB Cross-border Interbank Payment System (CIPS) in Hong Kong, including the launch of Hong Kong dollar clearing services as well as southbound and northbound fund settlement functions under Bond Connect.

The Financial Secretary, Paul Chan, delivered a keynote address and participated in a panel discussion moderated by the Director-General of Investment Promotion of InvestHK, Alpha Lau. Joining Chan on the panel were the Group Chief Executive of HSBC, Georges Elhedery, and the Group Chief Executive of Standard Chartered, Bill Winters.

With around 1,200 fintech companies in Hong Kong, Chan shared three key observations from the journey in building a vibrant fintech ecosystem: financial inclusion as an objective, regulators as enablers of innovation, and responsible and sustainable innovation.

At the panel discussion “Curating the New Fintech Era”, the Secretary for Financial Services and the Treasury, Christopher Hui, highlighted blockchain and AI as the transformative technologies for Hong Kong’s financial services.

Hui also noted the important role that regulatory sandboxes and subsidy programmes play in the city’s fintech ecosystem. They are not only the crucial driver in cultivating innovation but also conducive to obtaining valuable views and feedback from the market for better review and enhancement of existing policy and regulatory frameworks.

The President and Chair of the Board of Directors of the Asian Infrastructure Investment Bank (AIIB), Jin Liqun, attended the Main Conference and shared insights on how financial innovation can help maintain and support nature and ecological conservation. He remarked,

Jin Liqun AIIB
Jin Liqun

“Once we can verify nature as an asset, we can make it investable. We can digitise and scale it to make it sustainable in the long run.”

He also announced the AIIB’s plan to set up an office in Hong Kong to address its growing business needs.

Charging Ahead with Heart: Policy and Ecosystem Perspectives

hong kong fintech week 2025 highlights
Source: InvestHK

The Under Secretary for Financial Services and the Treasury, Joseph Chan, engaged in an in-depth dialogue with ex-Chairman of Meitu and Angel Investor Cai Wensheng at the Main Conference. Chan detailed Hong Kong’s latest growth in the digital asset space. Chan stated that the government is promoting the development of digital assets in a sustainable and responsible manner. He added,

Under Secretary for Financial Services and the Treasury, Joseph Chan
Joseph Chan

“As Asia’s leading international financial centre, in June 2025, we issued the Policy Statement 2.0 on the Development of Digital Assets in Hong Kong, reinforcing its commitment to establishing Hong Kong as a global hub for innovation in the digital asset field.”

The Under Secretary for Innovation, Technology and Industry, Lillian Cheong, in a video speech, outlined the government’s strategic investments in I&T (innovation and technology) infrastructure, talent, and industry development, with a view to fostering a vibrant I&T ecosystem in the city and building Hong Kong into a new real economy.

She pointed out that the government strives to consolidate Hong Kong’s strengths in I&T through a series of support measures by better coordinating the upstream, midstream, and downstream development. She extended a sincere invitation to fintech companies and start-ups to leverage Hong Kong’s unique advantages that underpin its status as a global innovation hub and set up or expand businesses in the city.

The Under Secretary for Environment and Ecology, Diane Wong, delivered a keynote speech on Hong Kong’s environmental and sustainability achievements to date, highlighting the pivotal role played by technological innovation under decarbonisation strategies.

Diane Wong
Diane Wong

“To combat climate change effectively, we need to adopt appropriate measures on climate adaptation and resilience, to protect the lives and property of our people from extreme weather events. AI and robots are playing an increasingly important role in these areas,” she said.

Wong added that the Government attaches importance to adopting innovative technologies in its work.

She quoted the example of the Hong Kong Observatory, which has been running several AI models to support operational forecasting, such as tropical cyclone track forecasting, since mid-2023. The AI models have successfully forecast several tropical cyclones this year, with an accuracy better than traditional weather prediction models.

Shaping the Future of Finance Through Digital Transformation and Trust

hong kong fintech week 2025 summary
Source: InvestHK

The Chief Executive of the HKMA, Eddie Yue, outlined the four strategic pillars of the HKMA’s “Fintech 2030” vision: Data and Payment Infrastructure, AI, Resilience, and Tokenisation, collectively known as “DART”.

He stated that this strategy aims to establish Hong Kong as a robust, resilient, and future-ready fintech hub, detailing how each pillar will drive the next chapter of fintech in the city.

Reflecting on the evolution of Hong Kong’s fintech landscape over the past decade, he introduced the strategy for the upcoming Fintech 3.0 era, characterised by technology embedded in daily life, underpinned by trust, transparency, and intelligence to create a real-world impact and lasting resilience.

Yue also noted AI’s transition from an experimental phase to a significant innovation driver, with over three-quarters of the city’s banks implementing or piloting AI solutions. He emphasised the importance of deeper collaboration across the industry to develop a shared and scalable AI infrastructure that would benefit the banking industry.

He reaffirmed that tokenisation remains a key priority and highlighted the role of the HKMA as an enabler and facilitator in building an interoperable and trusted network, which will lay the foundation for a vibrant tokenised asset market. Lastly, Yue stressed that resilience involves not just withstanding shocks, but being secure, adaptive, and future-ready in the face of new innovations.

Chief Executive Officer of the SFC, Julia Leung, opened the fireside chat by highlighting two new circulars to be issued that day (3 November 2025). These allowed Virtual Asset Trading Platforms (VATPs) to share a global order book with their overseas affiliates, connecting the Hong Kong market with global liquidity.

The circulars also expanded VATPs’ service and product offerings in all types of digital assets.

Leung also discussed the recent joint consultations by the SFC and Financial Services and the Treasury Bureau on the regulatory framework for virtual asset dealers and custodians, noting positive feedback received.

She revealed plans to extend the licensing regime to include virtual asset advisory and management, with discussions underway with the Government. The new custody regime will focus on managing risks linked to private keys. The SFC expects to license only the most robust and reliable players to ensure a secure environment.

The Chief Executive Officer of the IA, Clement Cheung, emphasised that the key takeaway from the technological advances in the past few years is that “development is paramount but has to be balanced with regulation”.

He acknowledged the rapid progress in technology development within the insurance industry, generative AI, and blockchain, for example, as “breathtaking”.

Taking a dual approach in balancing regulation and development to foster sustainability, he highlighted a series of milestone initiatives of the IA that promote the adoption of advanced technologies and strengthen operational resilience of the industry, including the Open API Framework, the Cyber Resilience Assessment Framework, and the AI Cohort Programme. He also announced the publication of the Whitepaper on Federated Learning.

Cheung stressed that as the insurance sector evolves, regulators must navigate in a balanced and enlightened manner to promote inclusive and responsible innovation.

Collaboration is Key: Redefining the Innovation Frontier

hong kong fintech week 2025 summary
Source: InvestHK

Frontier technology, from biotech and fintech to AI and Web3, was the centre of celebration as companies and start-ups took to various stages and panels to discuss what they have been able to achieve in the space.

Nobel Laureate in Physics, Professor Emeritus of the University of Toronto, Geoffrey Hinton, shared at the event on the future of AI.

Professor Hinton introduced his groundbreaking “Mother AI” theory, emphasising the importance of ensuring AI genuinely cares for humanity rather than replacing it. He outlined strategies to mitigate AI-related risks and highlighted opportunities to foster innovation aligned with human values amid rapid technological advancement, while underscoring Asia’s key role in driving AI innovation.

Co-founder and Managing Partner of DST Global, John Lindfors, and the Founding Managing Partner of Qiming Venture Partners, Duane Kuang, joined the forum session to exchange insights on how disruptive technologies are reshaping global growth opportunities.

They shared perspectives on the rapid maturation of innovation, from AI and biotech to digital assets, into scalable, investable markets, and highlighted how new investment vehicles are opening greater access for investors worldwide.

The President and Chief Executive Officer of Franklin Templeton, Jenny Johnson, predicted that the next wave of major companies will emerge from the AI and crypto innovation.

She emphasised that while AI and blockchain are transformative, the biggest challenge is organisational change management, where start-ups adapt faster than incumbents. Johnson noted that current AI investment gains are concentrated among infrastructure providers such as chipmakers and cloud services, but future growth will come as firms learn to expand margins using AI.

She also highlighted real-world crypto and NFT (non-fungible token) applications, such as luxury goods authentication and bandwidth sharing, and praised Hong Kong’s progressive blockchain regulation as a model for innovation.

The President of the Solana Foundation, Lily Liu, discussed how digital asset treasuries (DATs) and ETFs (exchange-traded funds) are complementary tools for traditional investors, but stressed the need to filter them for long-term quality amid speculative cycles.

She highlighted how the evolution of technologies such as stablecoins reflects a broader transformation in financial infrastructure, where decentralised platforms increasingly play a central role in profit generation and capital flow.

On another panel, Co-Executive Director of the Ethereum Foundation, Tomasz Stańczak, emphasised stablecoins’ role in improving cross-border payments and driving institutional interest in tokenised assets.

During the main conference, a series of curated media tours highlighted Hong Kong’s role as a global financial and innovation hub.

Key moments included exclusive sessions with Chinese Mainland tech giants. Tencent introduced its vision for cross-boundary payment services; WeBank focused on HQ-driven innovation; and Ant Digital Technologies underscored Hong Kong’s strategic advantages for global expansion and cutting-edge fintech solutions.

Other tours showcased Hong Kong as a “super connector” for emerging markets with delegations led by the Dubai International Financial Centre and the National Innovation Agency of Thailand. Another tour positioned Hong Kong as a launch pad for Chinese Mainland firms to go global, featuring the Shenzhen Financial Technology Association and the Zhongguancun Financial Technology Industry Development Alliance.

Marking the conclusion of the HKFW x SMUF 2025, Lau said that the unprecedented success of the HKFW x SMUF 2025 speaks volumes about the vibrancy, depth, and resilience of our financial innovation and start-up ecosystem. She added,

Alpha Lau
Alpha Lau

“We are grateful to all our partners, speakers and participants from around the world who came together to make this our largest and most impactful edition yet.”

She continued, stating that as they looked to the next decade, InvestHK will remain steadfast in its commitment to connect global companies with Hong Kong’s dynamic ecosystem, empowering them to scale across Asia and beyond, driving innovation, commercialisation, and creating more cross-border collaboration opportunities.

For more details and highlights from HKFW x SMUF 2025, such as Hong Kong Fintech Week 2025 highlights, please visit www.fintechweek.hk or follow via the official social media accounts: LinkedIn: Hong Kong FinTech Week; and YouTube: www.youtube.com/c/HongKongFinTechWeek.

Featured image by GovHK on GovHK

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]]> Defeating APP Fraud: Securing Global Payments in a Risk-Filled Landscape https://fintechnews.hk/35955/payments/defeating-app-fraud-securing-global-payments-in-a-risk-filled-landscape/ Fri, 24 Oct 2025 01:00:58 +0000 https://fintechnews.hk/?p=35955 APP Fraud is a $331 billion global crisis exploiting instant payments and human trust. Learn how regulations and real-time account verification tools like LSEG’s Global Account Verification (GAV) can help businesses strengthen payment security across borders. APP Fraud could cost the global economy $331B by 2027, driven by scams exploiting instant payments and AI deception. [...]

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]]> APP Fraud is a $331 billion global crisis exploiting instant payments and human trust. Learn how regulations and real-time account verification tools like LSEG’s Global Account Verification (GAV) can help businesses strengthen payment security across borders.

  • APP Fraud could cost the global economy $331B by 2027, driven by scams exploiting instant payments and AI deception.
  • Governments worldwide (UK, EU, US, Australia, Singapore) are enforcing stricter fraud liability, reimbursement, and verification rules.
  • Real-time account verification tools like LSEG’s Global Account Verification reduce fraud risk, support compliance, and secure cross-border payments.

APP Fraud: A $331 billion global crisis

Authorised Push Payment (APP) Fraud is no longer a local issue – it’s a global epidemic. LSEG Risk Intelligence estimates that global losses from APP scams could reach $331 billion by 2027. In the UK alone, APP Fraud accounted for £460 million in losses in 2023, representing 40% of all payment fraud. Meanwhile, Australia saw A$330 million lost to scams in the year to June 2024, and in the US, over 880,000 fraud reports in 2023 translated into $12.5 billion in potential losses.

In the EU/EEA, €1.13 billion in fraudulent transfers were recorded in H1 2023 – 57% of which were APP scams.

These figures underscore the urgent need for coordinated cross-border fraud prevention strategies.

Why APP Fraud is so hard to stop

APP Fraud exploits human trust and urgency, often using impersonation, deception, and increasingly, AI-powered deepfakes. Victims – whether individuals or businesses—are tricked into authorising payments, making recovery difficult and often impossible.

With the rise of instant payments, fragmented regulations, and limited data sharing, fraudsters can move funds across jurisdictions faster than ever. Businesses face operational inefficiencies, compliance challenges, and reputational risks.

APP Fraud - LSEG Whitepaper Example 1
Taken from the “Defeating APP Fraud: How to Ensure Going Global Brings Rewards, not Risks” whitepaper

Global action is underway

Governments and regulators are responding:

  • UK: Mandatory 50/50 reimbursement for consumers (up to £85k) and expanded Confirmation of Payee (CoP) technology.
  • US: FTC and Federal Reserve initiatives, including the Scam Classifier and new ACH fraud monitoring rules.
  • EU: PSD3 and PSR1 regulations to define fraud liability and mandate CoP across the Eurozone.
  • Australia: CoP rollout, biometric account opening rules, and real-time scam intelligence sharing.
  • Singapore: Online Criminal Harms Act to block fraudulent accounts and content.

Strengthening defences with account verification

As APP Fraud continues to evolve – driven by instant payments, fragmented regulations, and increasingly sophisticated scams – organisations face mounting challenges in securing cross-border transactions. One practical response is the adoption of real-time account verification tools.

LSEG Risk Intelligence’s Global Account Verification (GAV) is one such solution. It enables organisations to verify bank account details and ownership across jurisdictions, helping to reduce fraud risk, improve operational efficiency, and support compliance with emerging regulatory standards such as PSD3 and PSR.

By integrating verification into payment workflows, businesses can better protect themselves against impersonation, invoice fraud, and misdirected payments – particularly in high-risk environments where instant payments are the norm.

GAV is already being used across sectors to support secure onboarding, streamline treasury operations, and strengthen supplier relationships in global markets.

Download the “Defeating APP Fraud: How to Ensure Going Global Brings Rewards, not Risks” whitepaper here.

Originally published on LSEG Risk Intelligence

Featured image: Edited by Fintech News Hong Kong based on an image by LSEG

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]]> A Decade of Innovation Takes Centre Stage at Hong Kong Fintech Week x StartmeupHK Festival 2025 https://fintechnews.hk/35987/hong-kong-fintech-week-news/hkfw-smuf-2025-celebrates-decade-of-innovation/ Wed, 22 Oct 2025 08:50:26 +0000 https://fintechnews.hk/?p=35987 Invest Hong Kong (InvestHK) announced the 10th anniversary of the Hong Kong Fintech Week x StartmeupHK Festival 2025 (HKFW x SMUF) recently, which will be held from 3 November 2025 to 7 November 2025. The landmark joint celebration will mark a decade of innovation, bringing together two of the city’s flagship events to create an [...]

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]]> Invest Hong Kong (InvestHK) announced the 10th anniversary of the Hong Kong Fintech Week x StartmeupHK Festival 2025 (HKFW x SMUF) recently, which will be held from 3 November 2025 to 7 November 2025.

The landmark joint celebration will mark a decade of innovation, bringing together two of the city’s flagship events to create an expanded platform spanning the full spectrum of technology, entrepreneurship, and business transformation.

The collaboration reaffirms Hong Kong’s commitment to driving the digital economy, leveraging its position as a leading international financial centre and a vibrant start-up hub.

As Hong Kong’s premier innovation-focused event, HKFW x SMUF is organised by the Financial Services and the Treasury Bureau (FSTB), the Commerce and Economic Development Bureau (CEDB) and InvestHK, in collaboration with the Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission (SFC), the Insurance Authority, and the appointed event organiser, Finoverse.

The event is expected to attract over 37,000 attendees, featuring more than 800 leading speakers and 700+ exhibitors from more than 100 economies.

The main conference, taking place from 3 November 2025 to 4 November 2025 at the Hong Kong Convention and Exhibition Centre, will enable the event to reach its largest scale ever.

The Theme for 2025, Curating the New Fintech Era

Consistently ranked among the world’s top three international financial centres and a long-standing leader in Asia, Hong Kong has made bold moves to strengthen its standing as a global fintech powerhouse.

The city was recently recognised by the Global Financial Centres Index as the world’s No. 1 fintech hub, a testament to its central role in driving financial innovation worldwide.

With more than 1,100 fintech firms now operating in Hong Kong and the sector projected to generate US$606 billion in revenue by 2032, that too at an annual growth rate of 28.5%, Hong Kong Fintech Week is set to further amplify its global reach and reinforce its status as Asia’s premier fintech event.

The Secretary for Financial Services and the Treasury, Christopher Hui, said,

Christopher Hui
Christopher Hui

“This year’s theme of Fintech Week is ‘Curating the New Fintech Era’.  It is indeed our promise that Hong Kong will not only adapt to the future of fintech but will also shape the next chapter of global finance, where capital flows more intelligently and technology addresses real-world economic challenges.”

He went on to add that the Government will continue to work closely with the financial regulators and the fintech industry to build Hong Kong as an ideal destination for embracing and leading fintech, with a view to establishing scalable and sustainable fintech solutions that drive the global economy forward.

A Launchpad for Start-ups to Scale Globally

Start-ups attending HKFW x SMUF will gain access to ample resources on a unified platform. The event will foster a thriving community of entrepreneurs, investors, and industry leaders, with thought-provoking content on innovation, emerging technologies, and scaling strategies.

Participants will include start-up founders, investors, and pioneers from sectors such as AI, fintech, green tech, health tech, proptech, and more. HKFW x SMUF will offer opportunities for ventures to secure funding, form partnerships, and break into Asia and global markets.

The Secretary for Commerce and Economic Development, Algernon Yau, said that start-ups make up an important part of any economy, with fresh ideas that call for changes to the economy. He added that Hong Kong is the right place for start-ups to be created and to scale. Yau continued,

Algernon Yau
Algernon Yau

“Apart from the favourable business environment in Hong Kong, the start-ups here are supported by a strong network of incubators and accelerators, a pool of experienced angels and venture capitalists, a host of government-backed programmes and a welcoming business community.”

He further elaborated that the number of start-ups in Hong Kong has increased from about 1,600 a decade ago to around 4,700 last year. The expansion is a result of the pro-start-up measures taken by the Government over the years.

The Next Chapter of Building More, Together

The main conference will feature 11 targeted forums with curated programmes. These include the Policy Forum, Visionary Forum, InsurTech Forum, HealthTech Forum, Wealth & Investment Management Forum, Digital Finance Forum, Digital Assets Forum, Blockchain & Web3 Forum, AI & Advanced Tech Forum, China-Global Innovation Forum, and TechX Forum.

A Platform for Global Connections and Collaboration

The Director-General of Investment Promotion of InvestHK, Alpha Lau, said that the HKFW x SMUF is much more than a conference. She elaborated that they are essentially strategic platforms driving tangible two-way investment flows and fostering meaningful collaborations. She continued,

Alpha Lau
Alpha Lau

“This year, we will welcome over 30 delegations, including leading Chinese Mainland tech hubs such as Beijing and Shenzhen, seeking ‘go global’ opportunities through Hong Kong; traditional markets in Western Europe and the United States, seeking to tap into Asia’s growth; and emerging markets from the Gulf Cooperation Council region, ASEAN (Association of Southeast Asian Nations) and Central Europe.

Lau said that their participation underscores the world’s confidence in Hong Kong as the ideal place for innovative ideas to flourish and scale.

She further emphasised that the 10th anniversary goes beyond a moment to reflect on past achievements. It also serves as an opportunity to chart the future and invite the world to share ideas in Hong Kong’s remarkable journey.

Global Fast Track Semi-Finals and Grand Finale

This year, shortlisted Global Fast Track programme semi-finalist companies from seven verticals will be invited to the semi-finals and grand finale to pitch in person onstage during HKFW x SMUF.

This provides an opportunity for innovators to showcase their solutions in front of thousands of attendees, including key corporates, investors, service providers and communities seeking innovative fintech and other tech solutions and investment opportunities.

The programme has already received overwhelming interest, with over 700 applications from 70 economies worldwide.

Introducing Samantha, HKFW x SMUF’s AI Community Host

Additionally, the appointed event organiser,Finoverse, will introduce its first AI community host, “Samantha”, at HKFW x SMUF. By conducting a five-minute live call, Samantha can connect users to targeted meetings and craft personalised forum itineraries according to users’ interests and objectives, leveraging a database of 11 forums by a proprietary AI algorithm for precise matches.

Accessible on mobile devices via mainstream messaging apps, Samantha supports English and Putonghua, enabling seamless interactions with participants from around the world. The AI assistant is user-friendly and helps enhance participants’ business outcomes, delivering a more rewarding event experience.

Influential Voices Shaping the Future of Finance and Technology

This year’s conference will feature an exceptional lineup of global and regional leaders from government, regulatory bodies, finance, technology, and innovation, as indicated below:

Hong Kong Special Administrative Region Government and Regulators

  1. The Chief Executive, John Lee
  2. The Financial Secretary, Paul Chan
  3. The Secretary for Financial Services and the Treasury, Christopher Hui
  4. The Secretary for Commerce and Economic Development, Algernon Yau
  5. The Chief Executive of the HKMA, Eddie Yue
  6. The Chief Executive Officer of the SFC, Julia Leung
  7. The Chief Executive Officer of the Insurance Authority, Clement Cheung
  8. The Under Secretary for Financial Services and the Treasury, Joseph Chan
  9. The Under Secretary for Innovation, Technology and Industry, Lillian Cheong
  10. The Under Secretary for Environment and Ecology, Diane Wong
  11. The Director-General of Investment Promotion of InvestHK, Alpha Lau

Global Policy Leaders

  1. The Executive Secretary of the Wolfsberg Group, J Edward Conway
  2. The Secretary General of the Financial Stability Board, John Schindler
  3. The President and Chair of the Board of Directors of the Asian Infrastructure Investment Bank, Jin Liqun

Industry Leaders

Highlighted Speakers in the AI and Advanced Technologies Space

  1. Co-founder and Managing Partner of Alpha Intelligence Capital, Antoine Blondeau
  2. The Vice President and Chief Executive Officer of Z.AI, Carol Lin
  3. The Founder and Chief Executive Officer of 3C AGI Partners, Esther Wong
  4. Nobel Laureate in Physics, Professor Emeritus of the University of Toronto, Geoffrey Hinton
  5. Vice President of MiniMax, Xue Zizhao

Highlighted Speakers in the Financial Services Sector

  1. The Chief Executive Officer and Banking Head, Citi Hong Kong; Chairman of Citibank (China), Aveline San
  2. The Group Chief Executive of Standard Chartered, Bill Winters
  3. The Group Chief Executive of HSBC, Georges Elhedery
  4. The President and Chief Executive Officer of Franklin Templeton, Jenny Johnson
  5. The Vice Chairman and Chief Executive of Bank of China (Hong Kong), Sun Yu

Highlighted Speakers in the Tech Sector

  1. Vice President and Chief Financial Officer of Xiaomi, Alain Lam
  2. The Chairman of Ant Group, Eric Jing
  3. The Corporate Vice President, Head of Tencent Financial Technology, Tencent, Forest Lin
  4. Ex-Chairman of Meitu and Angel Investor Cai Wensheng

Highlighted Speakers in the Digital Asset and Blockchain Sector

  1. The Partner, Head of Digital Assets, Data, and AI of Apollo, Christine Moy
  2. The Chief Commercial Officer of OKX, Lennix Lai
  3. The President of Solana Foundation, Lily Liu
  4. The Chief Executive Officer of Binance, Richard Teng
  5. Co-Executive Director of the Ethereum Foundation and Founder of Nethermind, Tomasz Stańczak

Highlighted Speakers in the Insurtech Sector

  1. The Group Chief Technology and Operations Officer of Prudential plc, Anette Bronder
  2. The Group Chief Technology and Life Operations Officer of AIA Group, Biswa Misra
  3. Co-Founder of Bowtie Life Insurance Company, Fred Ngan
  4. The Group Chief Executive Officer of Singlife, Pearlyn Phau
  5. The Chief Executive Officer of AXA Greater China, Sally Wan

Highlighted Speakers in the Payments Sector

  1. Co-founder and Chief Executive Officer of EBANX, João Del Valle
  2. Co-President of Ascend Money, Monsinee Nakapanant
  3. The Chief Executive Officer of LianLian Global, Tim Shen

 Highlighted Speakers in the Venture Capital and Investing Space

  1. The Founding Managing Partner of Qiming Venture Partners, Duane Kuang
  2. The Founder, Chairman and Chief Executive Officer of Primavera Capital Group, Fred Hu
  3. Partner of MPCi, Harry Man
  4. The Chief Executive Officer of Ofi Invest, Jean-Pierre Grimaud
  5. Co-founder and Managing Partner of DST Global, John Lindfors
  6. Fosun Global Partner, Co-Chairman and Chief Executive Officer of Fosun Capital, Mike Xu

Get ready to be part of a transformative experience redefining the future of technology and finance. Hong Kong Fintech Week x StartmeupHK Festival 2025 promises inspiring insights, powerful connections, and opportunities that shape what’s next for the global innovation landscape.

Discover more at www.fintechweek.hk.

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]]> Banks Will Soon Be Competing for Your AI Agent’s Approval https://fintechnews.hk/35785/ai/ai-agents-in-banking-jason-cao-huawei-finance/ Tue, 14 Oct 2025 03:24:58 +0000 https://fintechnews.hk/?p=35785 For more than a decade, banks have been busy “going digital”. They built apps, digitised forms, and automated obvious tasks. It worked. Mobile banking became expected, more processes went paperless, and many core systems were moved to the cloud (or at least parts of them). Yet even with all that, many banks still haven’t completed [...]

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]]> For more than a decade, banks have been busy “going digital”. They built apps, digitised forms, and automated obvious tasks. It worked.

Mobile banking became expected, more processes went paperless, and many core systems were moved to the cloud (or at least parts of them).

Yet even with all that, many banks still haven’t completed that journey. Globally, over 80% of banks have not fully migrated both their core banking and customer-facing digital channels to the cloud.

A recent study also showed that while 91% of banks and insurers have initiated cloud transformation, more than half have moved only minimal portions of their core applications.

In Southeast Asia, 60% of banks report mature or building cloud capabilities, while around 30% are still exploring or planning.

Even so, there’s a growing recognition that doing digital (apps, automation, cloud shifts) isn’t enough.

But Huawei’s Jason Cao steps in with a different frame. He says the banking world is entering its AI era, one where an AI agent might be as much a “customer” of the bank as the human who owns it.

Jason Cao
Jason Cao

“In the digital time, it’s always you doing the decision but the process itself is automated,” he said.

The AI era, however, will be different. According to Jason, he argues that the decision-maker may well be the agent itself.

Banks, in other words, will need to learn how to satisfy not only customers but also the AI agents making choices for them.

That framing changes the conversation. It’s not just about faster service or cheaper operations anymore. It’s about rethinking who (or what) a bank is actually serving.

From Serving the Top Tier to the Long Tail

Banks have always concentrated their best services on their most valuable customers. Jason is convinced AI will make that model unsustainable.

Banking has long been built on a “20/80” dynamic, where a minority of clients enjoy the majority of services. Jason argues that AI could disrupt this pattern and open the door to more inclusive customer engagement.

“Even if you are a long-tail customer, you can have a dedicated wealth manager. If a bank can make that work, then all the other banks will follow.”

This, he argues, is the real structural change. Hyper-personalisation is becoming a serious competitive edge.

Once a few banks start offering long-tail customers the kind of attention once reserved for high-net-worth individuals, the rest will have to respond or risk losing relevance.

The Urgency to Move

Many institutions are dabbling at the edges of AI, but Jason insists the clock is already ticking. In some markets, especially China, AI agents are already part of day-to-day banking.

The CEO of Digital Finance BU for Huawei believes that once the pioneers can do that, all the other banks will soon follow.

The reason is simple. Costs are falling and capabilities are rising. What used to be prohibitively expensive is now becoming practical.

Jason says the era of “doing digital” was about efficiency. The era of “doing AI”, on the other hand, is about intelligence and reasoning.

Banks that delay the transition may find themselves playing catch-up not with peers, but with entirely new customer expectations set by agent-led interactions.

People and Machines, Together

Jason is careful not to frame this as a story of replacement. The more accurate picture, in his view, is collaboration.

“One person, one team, one position, and multiple agents as a system. This is the model,” he explained. “People, based on their experience, train the agent, and learn how to work with and govern the agent,” he continued.

The point is not to automate humans out of the process but to extend what they can do.

Staff in branches and contact centres will spend less time on repetitive work and more time directing, monitoring and shaping how AI agents perform.

That, in turn, will require new skills and new ways of working.

Jason, however, admits that such a transition won’t happen in a single snap of a finger.

“We have to look forward to what’s coming. It may take years, but we should move to that,” he said.

Making AI Adoption Less Intimidating

Huawei’s new FinAgent Booster, or FAB, is the company’s attempt to lower the barriers. He breaks it down into three promises:

“Easy to use, ready to use, and smooth to use.”

What does that mean in practice?

Fifty scenario-based workflows drawn from banking best practice. More than 150 modular components from partners that banks can plug into their systems.

And the performance to back it up. As of today, it has a 90% accuracy for intent recognition and millisecond-level response times when dealing with customers.

It’s a very Huawei approach, I would say. Modular, engineered, and performance-heavy.

The idea is to make AI adoption feel less like a giant leap and more like building blocks that banks can assemble at their own pace.

The Resilience Story

If there is one word Jason leans on heavily, it is resilience. He repeats it quite often, and he clearly sees it as Huawei’s differentiator.

“Bankers are very smart guys,” he said. “If your products are not good, they will not work with you.”

Despite a difficult six-year period, Huawei’s financial services arm has continued to expand, something the CEO of Digital Finance BU for Huawei links to the trust banks place in its resilience and future growth prospects.

That resilience has been stress-tested. The company has faced global challenges over the past few years, yet its financial services business has expanded.

Today, Huawei works with more than 5,600 financial institutions in over 80 countries, including 53 of the world’s top 100 banks.

Much of the credibility comes from its home market. Every major bank in China, Jason notes, has already undergone large-scale cloud transformation.

That gives Huawei a reference point that international banks pay attention to, especially in Europe, Africa and Latin America, where many are curious about how far they can push their own transformations.

Workforce Shifts Ahead

The deployment of AI agents inevitably raises questions about jobs. Some banks openly talk about reducing thousands of roles.

Jason doesn’t dismiss the possibility, but he emphasises that the bigger story is about reskilling and collaboration.

AI will take over certain functions, but the human role shifts towards oversight, governance and strategic decision-making.

For the industry, that means preparing staff not only for what AI can do today but for how it will evolve over the coming years.

A Sector in Transition

Jason’s tone is pragmatic rather than promotional, stressing that hesitation could cost banks dearly.

The digital chapter was about smoothing processes. The AI chapter is about rethinking who makes the decisions and how those decisions scale across millions of customers.

“In the AI time, the decision-maker will probably be your agent,” he reminds us.

That thought may feel like science fiction, but it is already moulding financial services in China.

For banks elsewhere, the choice is whether to treat it as a warning or as a head start.

Featured image: Edited by Fintech News Singapore based on images by MD.Laik alom mollik via Freepik and Huawei.

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]]> Who Owns Their Digital Identity, Owns the Future https://fintechnews.hk/35838/security/future-of-trust-in-digital-identity-for-bfsi-and-public-sector/ Wed, 08 Oct 2025 06:44:49 +0000 https://fintechnews.hk/?p=35838 Everywhere you look today, identity is the real currency. Whether you’re opening a bank account or applying for government services, the same question comes back again and again. Who are you, and how can anyone be sure? That question has grown far beyond the teller’s counter. It now runs through the veins of the global [...]

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]]> Everywhere you look today, identity is the real currency. Whether you’re opening a bank account or applying for government services, the same question comes back again and again. Who are you, and how can anyone be sure?

That question has grown far beyond the teller’s counter. It now runs through the veins of the global economy, shaping how governments roll out digital services and how banks try to balance security with convenience.

Digital identity has not-so-quietly become the infrastructure for growth, trust, and even inclusion.

The Push to Make Identity Digital

Fabrice Jogand-Coulomb, who is the Vice President of Mobile Solutions at TOPPAN Security, has been watching this shift unfold. He points to a UN estimate that digital ID can unlock between 3% and 7% of GDP for countries that implement it seriously.

For governments, it’s about sovereignty and privacy. For banks, it’s about meeting regulations and keeping fraud under control.

Fabrice Jogand-Coulomb
Fabrice Jogand-Coulomb

As Fabrice puts it, “Digital ID is the foundation of economic growth.”

And increasingly, both the public and private sectors are moving in that direction.

Fabrice explains that while international standards make interoperability possible, “a one-stop shop could provide a more competitive price than multiple individual parties.”

The first wave of digital onboarding was messy. Banks and agencies stitched together different vendors for different steps of the process. It worked, but it was costly and clunky.

International standards now mean those pieces can talk to each other, but Fabrice argues that an integrated platform covering the whole lifecycle is usually more efficient.

Goodbye Passwords, Hello Biometrics

Let’s be honest, passwords were never loved, and the industry is finally starting to push past them. Multi-factor authentication is the new baseline for digital identity, with device binding now playing a starring role.

Paired with biometrics, it gives institutions the ability to dial security up or down depending on the risk.

For low-risk transactions, a device binding check might be enough.

And for bigger-ticket items, the system can quietly step up to stronger checks. Fabrice points out that multi-factor authentication (MFA) is becoming a must, especially as high-value transactions demand stronger checks.

He also believes that, and quoting him,  “device binding with biometrics provides a superior experience” because it feels less like a hurdle and more like a natural part of the process.

This move is being helped along by new standards such as ISO/IEC 23220-4, which enable request–response protocols for authentication through verifiable credentials.

The jargon is quite heavy if you think of it, but the effect is rather simple: authentication that adapts without the customer even noticing.

Toppan Security

But Why Is Onboarding Still Tripping Us Up?

Of course, the real headscratcher comes at the very start. Onboarding is where drop-offs and fraud tend to creep in. Too many systems still rely on shaky photos of passports or IDs, which don’t always hold up well under scrutiny.

Electronic documents with chips are far stronger. They give you data that can be authenticated cryptographically, along with a clean biometric portrait.

The trouble is getting phones to read them properly with NFC. Anyone who’s tried it knows it’s fiddly and inconsistent.

He notes that “NFC on phones is rather tested for card presentation and reading simple tags than powering an electronic ID document,” which makes the user experience inconsistent today.

That’s why Fabrice sees promise in decentralised identity and verifiable credentials. Once a person is onboarded securely, their digital ID can live in a wallet on their phone. From then on, sharing it is as simple as a tap.

Or as he puts it:

“Strong onboarding is performed once, then best-in-class user experience can follow.”

Learning from Governments

Large-scale government projects have been testing grounds for these ideas. They set the bar high but also expose the weaknesses of centralised systems, which can become single points of failure.

Take the Philippines. The eGovPH program has rolled out mobile IDs to millions of citizens.

It’s not perfect, but it shows what’s possible. Banks can borrow lessons from this since interoperability, public trust, and scalability matter just as much in finance as they do in government.

Fabrice notes that decentralised models, where credentials sit in a user’s own wallet rather than a central database, help spread the risk.

Banks that plug into such ecosystems avoid being dependent on a government server, while still benefiting from the standards that make everything interoperable.

What the Digital Identity Road Ahead Looks Like

The next few years are going to be busy. Europe’s EUDI framework is pushing hard on adoption, while mobile driving licences are starting to catch on in the US, Australia, New Zealand, and across Asia.

But it won’t stop with government IDs. Fabrice expects verifiable credentials to spread to employers, banks, and universities.

Zero-knowledge proofs, which were once the stuff of research papers, are edging into practical use, letting people prove something without disclosing the details.

Fabrice predicts that zero-knowledge proof should go from proof of concept to proven security, and the market should finally align on a few solutions.

At the same time, AI-driven fraud and the looming threat of quantum computing mean institutions need to keep one eye on the horizon.

Toppan Security

Your Phone, Your Passport

But none of these breakthroughs will matter if the end user experience doesn’t work. And today, that experience lives on the smartphone.

The phone has already replaced the wallet for many of us. It’s now on its way to becoming our passport, too. Fabrice warns that user experience will make or break this shift.

If the process feels clumsy, people will gravitate toward alternatives. Or worse, to your competitors.

A trusted, mobile-centric identity system needs to walk a fine line.

As Fabrice puts it,

“Security should be implemented as such that the UX remains great while the App can’t be used without your consent and the phone delivers at least one factor of authentication.”

Security has to be invisible but real, and customers need to feel that they’re in control. That means hardware protections for keys, backed up by biometrics and PINs.

Done right, the phone becomes both the lock and the key to digital life.

Featured image by TOPPAN Security.

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]]> Inside the Push for Frictionless Cross-Border Payments Across APAC https://fintechnews.hk/35737/payments/lexis-nexis-cross-border-payments-apac-whitepaper-2025/ Fri, 26 Sep 2025 03:51:03 +0000 https://fintechnews.hk/?p=35737 The Asia-Pacific region is approaching a milestone in cross-border payments: though fully achieving instant, efficient international money movement remains a goal. Domestic payment systems have progressed with real-time rails, QR codes and digital wallets. However, cross-border transactions still face high costs, long settlement times, inconsistent experiences and increased fraud risks. Amid sustained trade growth and [...]

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]]> The Asia-Pacific region is approaching a milestone in cross-border payments: though fully achieving instant, efficient international money movement remains a goal.

Domestic payment systems have progressed with real-time rails, QR codes and digital wallets. However, cross-border transactions still face high costs, long settlement times, inconsistent experiences and increased fraud risks.

Amid sustained trade growth and digital economic expansion, establishing seamless cross-border payment infrastructure is now imperative. To address these challenges, LexisNexis Risk Solutions and the Singapore FinTech Association (SFA) published a white paper, The Journey Towards Frictionless Cross-Border Payments in APAC.

The report leverages industry insight to identify persistent barriers and define practical steps toward secure, affordable and interoperable payment flows across the region.

Progress and Challenges

The white paper sets a clear aspiration: cross-border payments should deliver the immediacy, transparency and low costs that users expect from domestic transfers. Achieving this vision means delivering real-time settlement, low fees, clear pricing and strong fraud protection.

Realising these objectives is complex due to the diversity within the Asia-Pacific region, which includes more than 50 countries, each with distinct regulations, data standards and payment systems. Compared with the European Union’s single directive for payments, the Asia-Pacific region faces significant regulatory fragmentation.

This divergence elevates compliance costs and complicates dispute resolution, slowing innovation. Advancing toward harmonised regulations and technical standards is essential for smoother operations and increased trust in cross-border payments.

The Role of Key Stakeholders

Banks offer essential compliance infrastructure, which maintains transaction reliability and security. Fintechs drive operational innovation, bridge service gaps and expand access. Governments provide regulatory clarity and support the move toward interoperability.

Adoption of standards such as ISO20022 is strengthening interoperability throughout the region; this messaging standard increases consistency across local markets. When full standardisation is not possible, payment service providers are using translation mechanisms to validate and convert payment instructions in real time.

Costs and Operational Realities

APAC Cross-border Payments - Challenges in Cross-Border Payments
Screenshot from page 9 of the whitepaper The Journey Towards Frictionless Cross-Border Payments in APAC.

Recent roundtables identified several operational hurdles. Thirty-one percent of participants named adapting to changing regulations as the top obstacle. Other issues include fraud, transaction success rates, user experience and high costs, which 11% highlighted as a major barrier.

Consistent validation of payment instructions at entry improves data quality and prevents errors, with two-thirds of respondents agreeing this is paramount. There is also broad support for establishing shared data standards, which reduces payment failures, limits losses and strengthens the payments ecosystem.

User Priorities and Seamless Experiences

Customers across the region continue to prioritise speed, clear pricing and a seamless digital experience. Avoiding fraud is another central concern. Cumbersome interfaces and manual input often lead to errors and increased risk. To meet these expectations, digital-first processes, supported by APIs for early validation, help limit transaction failures and operational costs, while data standards and channel digitisation reduce friction across the process.

APAC Cross-border Payments - What Customers Want
Screenshot from page 11 of the whitepaper The Journey Towards Frictionless Cross-Border Payments in APAC.
Ed Metzger
Ed Metzger

Ed Metzger, vice president, payments and platforms at LexisNexis Risk Solutions, noted that while industry focus and customer priorities do not always align, optimising the end-to-end customer journey and leveraging data and technology, often invisibly, are crucial for achieving compliance and efficiency.

 

Trends Defining the Future

Key developments are shaping the Asia-Pacific region’s cross-border payments outlook. Reducing remittance costs in line with United Nations Sustainable Development Goals, simplifying regulatory compliance, expanding real-time capabilities and integrating digital assets and embedded finance are high priorities.

The research highlights the growth of real-time B2B payments in ASEAN, government transfers using stablecoins and greater attention to pre-transaction sanctions and fraud checks.

Regional infrastructure initiatives, such as Project Nexus, developed by the Bank for International Settlements Innovation Hub, are enabling system interoperability.

By connecting domestic payment networks through a standardised access point, Nexus minimises integration barriers. The 2024 implementation blueprint, developed with several central banks, is a step forward for millions of users, supported by the establishment of Nexus Global Payments in Singapore.

Addressing Fraud and Risk

With broader adoption of real-time payments, the threat of fraud increases. The white paper evaluates the rise of Authorised Push Payment (APP) fraud, where users are deceived into sending funds to bad actors. It recommends implementing strong multi-factor authentication, advancing real-time monitoring, strengthening consumer education and sharing threat intelligence through close cooperation between banks, fintechs and regulators.
These efforts are foundational to building and maintaining trust as payment ecosystems evolve.

Path Forward: The Importance of Collaboration

Frictionless cross-border payments cannot be achieved in isolation. Progress depends on cross-sector technology adoption, continuous regulatory enhancements and operational cooperation. Stakeholders must harmonise compliance, participate in shared platforms and build trust to support emerging technologies, including central bank digital currencies.

The white paper concludes with clear strategic priorities: interoperability, robust security that does not compromise the user experience, harmonised regulations and wider access via digital wallets. Digital and mobile-first solutions will help include underserved populations that depend on remittances or lack access to traditional banking.

LexisNexis Risk Solutions remains committed to providing robust payment validation and fraud prevention technology for the industry. While the region has made major progress, further collaboration and alignment are required. As the region continues to lead in payments innovation, the focus must remain on reducing friction and managing risk through partnership.

Download The Journey Towards Frictionless Cross-Border Payments in APAC whitepaper here.

LNRS WP

Featured image: Edited by Fintech News Singapore, based on images by suriyawutsuriya and lishchyshyn via Freepik.

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]]> How AI-Generated Fraud Is Rewriting Digital Risk https://fintechnews.hk/35487/security/ai-generated-fraud/ Thu, 11 Sep 2025 03:58:13 +0000 https://fintechnews.hk/?p=35487 Fintech is scaling at a pace once unimaginable, bringing millions into the digital economy and redefining how financial services operate. But every leap forward is shadowed by an equally fast-moving wave of fraud. Bad actors are evolving in real time, probing onboarding and transaction flows for exploitable gaps. The rise of GenAI has accelerated this [...]

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]]> Fintech is scaling at a pace once unimaginable, bringing millions into the digital economy and redefining how financial services operate. But every leap forward is shadowed by an equally fast-moving wave of fraud.

Bad actors are evolving in real time, probing onboarding and transaction flows for exploitable gaps.

The rise of GenAI has accelerated this arms race.

Fraudsters now wield AI to supercharge attack vectors, from synthetic identity fraud and deepfakes to fabricated receipts and hyper-realistic documents, making scams more convincing, scalable and more challenging to detect than ever before.

The Ongoing Dilemma of Synthetic Identity Fraud

The Ongoing Dilemma of Synthetic Identity Fraud
Source: lazy_bear via Freepik

Synthetic identity fraud exploits the intersection of digital convenience and legacy verification with AI.

Criminals blend real and fabricated data using tools to create false personas, easily slipping past knowledge-based authentication and even many Know Your Customer (KYC) controls.

The impact is considerable: in 2024, account openings with synthetic identities jumped 18%, costing institutions billions in losses.

These attacks are coordinated, cross-border and increasingly automated by advanced technologies, especially in industries where rapid, mobile-first onboarding is the norm.

In response, many organisations are investing in increasingly sophisticated detection tools, yet find the bar is constantly being raised.

Fraud rings operate across borders, leveraging breached data, social engineering and now, tools powered by AI to slip through gaps at scale.

As a result, synthetic identity fraud is consistently ranked among the top challenges for security teams throughout the fintech ecosystem.

The Rise of AI-Powered Document Fraud

Source: highendgraphics via Freepik

Not too long ago, producing convincing forged documents demanded time, expertise and significant risk.

Today, it requires little more than a prompt fed into generative AI or image synthesis tools.

This drastically lowered barrier has unleashed a surge of fraudulent refund claims and return requests, overwhelming businesses that rely on manual reviews to keep pace with transaction volumes.

Unlike synthetic identity fraud, which often takes months of cultivation before a payout, AI-generated receipts and forged documents fuel rapid, hit-and-run scams.

These quick strikes can be replicated at scale, inflicting outsized losses across businesses of every size.

In high-growth fintech markets, where transaction velocity is accelerating, the potential for abuse and the scale of financial impact are especially acute.

Why Traditional Tools Are No Longer Enough

Why Traditional Tools Are No Longer Enough
Source: PIXLE AI ART via Freepik

AI-driven document and identity fraud exposes a critical flaw in conventional fraud defenses: reliance on static, manual or rules-based controls.

Manual reviews, knowledge-based authentication and simple purchase history checks can no longer keep pace with the volume and ingenuity of attacks.

Today’s fraudsters have access to advanced tools that convincingly replicate genuine behavior at every customer journey stage.

For fintechs that compete on seamless onboarding and instant access, the trade-off between speed and security has never been sharper.

Customers demand frictionless experiences, yet outdated defenses turn smooth entry points into open doors for synthetic fraud.

The burden falls on operational teams, who face the impossible task of separating real users from fakes at scale.

Every manual review or delayed approval increases costs, strains resources, and risks customer abandonment.

We’ve reached a breaking point: however well designed, static controls deliver diminishing returns.

Proactive, AI-Driven Fraud Prevention

Proactive, AI-Driven Fraud Prevention
Source: Freepik

Forward-looking companies are embracing a new generation of proactive, integrated fraud defenses.

Digital footprint analysis verifies a customer’s online presence by examining email histories, social profiles and web activities to discern genuine users from synthetic identities.

Unlike static documents, a dynamic and traceable digital identity is much harder to replicate at scale.

Device intelligence scrutinises hardware, software and network signals to spot anomalies, such as emulators, device cloning or spoofed environments favored by fraud rings.

At the same time, behavioral biometrics capture how users navigate, type or interact with forms, revealing subtle differences between authentic human behavior and automated scripts.

Layered on top, real-time transaction analytics and adaptive machine learning models track refund patterns, velocity violations and data inconsistencies.

These systems continuously evolve, recognising familiar fraud tactics and new AI-driven variations as they emerge.

These technologies, designed for seamless integration, minimise legitimate customer friction while automatically escalating or blocking high-risk activity.

The result is fraud prevention that works at the gate, stopping attacks before they cause damage, while reducing the need for costly investigations or blanket manual reviews.

Bringing Security and Growth Together

Bringing Security and Growth Together
Source: deepflax via Freepik

As GenAI-enabled synthetic fraud tactics evolve, the future of fraud prevention isn’t about overpowering bad actors; it’s about outsmarting them.

Success comes from refining strategies that support secure, scalable growth.

By fostering a culture of proactive risk assessment and investing in real-time, AI-powered defenses, leading companies are transforming fraud prevention from a necessary cost into a catalyst for trust and sustainable success.

The challenge is clear: meet the evolution of fraud with equal evolution in defense — weaponising the same advanced tools that fraudsters exploit to stay several steps ahead.

 

 

Featured image: Edited by Fintech News Singapore, based on image by pikisuperstar via Freepik

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]]> Financial Sanctions: LSEG Risk Intelligence Answers Your Key Questions https://fintechnews.hk/35250/regtech/lseg-financial-sanctions/ Fri, 22 Aug 2025 03:17:28 +0000 https://fintechnews.hk/?p=35250 Financial sanctions are essential government tools for achieving foreign policy objectives – and compliance is mandatory – but the sanctions landscape can be complex to navigate. Here we unpack some key questions around this important topic. Understand financial sanctions and why they matter. Uncover best-practice approaches for remaining compliant as well as the consequences for [...]

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]]> Financial sanctions are essential government tools for achieving foreign policy objectives – and compliance is mandatory – but the sanctions landscape can be complex to navigate.

Here we unpack some key questions around this important topic.

  • Understand financial sanctions and why they matter.
  • Uncover best-practice approaches for remaining compliant as well as the consequences for non-compliance.

Financial sanctions enforce economic and trade bans against foreign jurisdictions and regimes, as well as individuals and entities engaging in harmful activity.

In the United States, the Office of Foreign Assets Control (OFAC) is responsible for implementing and enforcing financial sanctions, but the sanctions landscape is global in nature.

Specific sanctions have been outlined by the EU, the UN and many other governments, including Canada, Australia, the UK, and many more.

The 5th edition of the Global Sanctions Index (GSI) report by LSEG Risk Intelligence provides a detailed account of the key changes in global sanctions over the past year, as well as insights into the most important mega-trends – including uncertainty – that will shape sanctions in the coming months.

Here we answer some key questions around financial sanctions.

Five key questions answered

1. What are financial sanctions?

Financial sanctions are measures taken against targeted jurisdictions and regimes (including individuals and entities) engaging in harmful activities.

They are designed to restrict or prohibit transactions and can include entire countries or geographic regions.

They are primarily used to exert pressure to change negative behaviour, such as involvement in terrorism, money laundering, human rights abuses, the spread of weapons, and more.

These sanctions can be effective tools for achieving foreign policy objectives and guiding a nation’s interactions with other countries.

Some examples of common types of sanctions include:

• Asset freezes, including blocking access to the bank accounts, property or investments of a sanctioned individual or entity.
• Trade embargoes, such as bans on imports and exports to or from a sanctioned country.
• Investment bans, which can restrict or prohibit investments in sanctioned countries.
• Financial aid restrictions, which can prevent access to financial assistance, including loans, grants and aid programmes.

2. Why do financial sanctions matter?

Financial sanctions matter because they have economic and geopolitical repercussions and can therefore significantly impact global stability.

Sanctions can have:

• Economic consequences, for example governments can prohibit transactions with entire countries or geographic regions.
• Geopolitical implications, for example trade-related delays because of sanctions can create tension between countries and/or entities across the globe.

3. What are some of the consequences of non-compliance?

Non-compliance with global sanctions can have serious consequences, including:

• Potentially severe reputational damage: The impact of reputational damage is often unquantifiable – it can lead to long-term lack of credibility, tarnished customer relationships, and a loss of trust in your brand.
• Operational disruptions: If you are subject to an investigation, this can substantially disrupt day-to-day operations, with knock-on effects for your organisation.
• Criminal charges: In many cases, failure to comply with financial sanctions can result in criminal charges and even imprisonment.

4. What are the biggest challenges in sanctions compliance?

Implicit or narrative sanctions are often the biggest challenge in sanctions compliance.

Entities or individuals may not be explicitly named, but may be covered by broad narrative sanctions or be sanctioned based on their connections to a sanctioned entity or individual.

Some other key challenges include, but are not limited to:

• Complexity: The sheer volume and complexity of sanctions can be overwhelming, and often specialist knowledge is needed to navigate requirements.
• Inaccurate data: Inaccurate or incomplete data can leave you vulnerable to inadvertently transacting with a sanctioned entity or individual.
• High false positive rates: In some instances, robust screening can lead to false positive rates, disrupting legitimate relationships.

5. How can I improve my compliance?

The sanctions landscape is dynamic and complex, but there are resources and solutions that can cut through this complexity and help you keep abreast of ongoing changes.

The OFAC Framework for Compliance Commitments provides useful guidelines around sanctions compliance, and all organisations subject to US jurisdiction and foreign entities doing business with the US should review this.

It also is essential to implement a robust sanctions screening programme that starts with reliable access to accurate data, deep insights and comprehensive reports.

Sanctions are constantly updated, so timely data is essential to keep you informed of changes as they happen.

Some key points to remember include:

• Screening – of both customers and transactions – is an important first step in ensuring that you do not transact with any sanctioned individual or entity.
• Where heightened potential risk is identified, further investigations in the form of enhanced due diligence (EDD) can help you understand more about potential risk. Effective EDD delivers detailed insights and background checks.
• Ongoing transaction monitoring is also essential, because new risks can emerge at any time. Robust monitoring helps you uncover potential links to sanctioned individuals or entities.

The key take-away is this: complying with financial sanctions is non-negotiable, but with the right data, tools and expertise, you can cut through complexity, boost your efficiency and streamline your compliance function.

Download the latest Global Sanctions Index (GSI) report for more insights.

 

 

 

Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik

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]]> Stopping Fraud at the Gate: The New Imperative for Registration & Transaction Monitoring https://fintechnews.hk/35065/security/seon-fraud-transaction-monitoring/ Thu, 07 Aug 2025 09:56:46 +0000 https://fintechnews.hk/?p=35065 The Asia-Pacific fintech landscape is thriving, fueled by the rapid adoption of digital payments, online banking and alternative lending solutions. With over a billion users projected to access digital financial services by 2026, the region is ripe with opportunity — and equally vulnerable to escalating fraud threats. The region faces a wave of sophisticated attacks: [...]

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]]> The Asia-Pacific fintech landscape is thriving, fueled by the rapid adoption of digital payments, online banking and alternative lending solutions.

With over a billion users projected to access digital financial services by 2026, the region is ripe with opportunity — and equally vulnerable to escalating fraud threats.

The region faces a wave of sophisticated attacks: payment fraud losses are forecast to surpass US$362 billion between 2023-2028, and identity fraud is rising sharply, exacerbated by data breaches and advanced AI-driven tactics.

As digital finance accelerates, fraudsters are evolving faster than ever, pushing fintechs and payment providers to rethink their approach to user registration and transaction monitoring.

Rethinking Registration to Stop Fraud Early

Source: wombatzaa via Freepik

User registration is fintech’s critical first line of defense, but traditional methods, such as manual document verification and static data checks from consortia databases, are faltering against modern schemes.

Synthetic identity fraud, often enabled by stolen data or fabricated information and sometimes augmented with deepfakes, now slips past conventional Know Your Customer (KYC) checks with alarming ease.

These risks are amplified in APAC, where mobile-first onboarding is often frictionless by design.

To counter these attacks, fintechs are increasingly turning to digital footprint analysis.

By assessing the quality and breadth of digital identifiers — such as email addresses, linked social profiles and online presence — companies catch inconsistencies that signal fraud.

For example, a new registrant with minimal online history and recently created contact details raises immediate red flags, prompting enhanced scrutiny.

Conversely, genuine users benefit from a smooth onboarding experience without unnecessary delays.

Prominent APAC organisations have reported reductions in fraudulent registrations after introducing digital footprint analysis and enhanced KYC at scale.

This approach translates into lower operational costs and higher customer satisfaction scores.

Real-Time Transaction Monitoring as the New Standard

Source: thicha2707 via Freepik

Even with strong onboarding processes, risks remain throughout the customer lifecycle. Every payment transfer represents a potential threat vector.

Traditional batch monitoring and manual reviews simply cannot keep pace with the volume and speed of today’s real-time digital economy.

Real-time transaction monitoring addresses this challenge head-on by analysing every transaction instantaneously, using AI to flag anomalies in behavior, velocity, amount and context.

These adaptive systems recognise new threats and evolving patterns more quickly than static logic.

For example, digital payment providers and remittance services have cut down on fraud, resulting in a reduction in false positives and investigation workloads, allowing teams to focus better on customer service and innovation.

Device and Behavioral Intelligence: Enhancing Precision

Source: rawpixel.com via Freepik
Source: rawpixel.com via Freepik

Beyond digital footprints and transaction analytics, fintechs in APAC are embracing device intelligence and behavioral biometrics for even greater accuracy.

Device intelligence scrutinises hardware characteristics, network attributes and software configurations to spot devices often associated with fraudulent activity, such as spoofed IP addresses or emulator usage common among fraud rings.

Behavioral biometrics complements device intelligence by evaluating how users physically interact with platforms.

Tracking navigation patterns, typing speeds and swipe behaviors allows fintechs to differentiate human users from automated scripts or bots.

Integrated into real-time monitoring, these insights help organisations preemptively block malicious activity without disrupting genuine user experiences.

Proactive Security Fuels Sustainable Growth

Source: rawpixel.com via Freepik
Source: rawpixel.com via Freepik

Implementing advanced registration and transaction monitoring measures does more than merely protect against fraud — it positions companies for sustained competitive advantage.

Reduced fraud losses and fewer false positives translate directly into operational savings.

Resources previously spent on manual verification or recovery from fraud incidents can be redirected to innovation, enhancing service quality and customer loyalty.

Companies increasingly recognise these benefits, reflected by escalating investments in proactive security measures.

As digital finance expands rapidly throughout the region, fintechs equipped with robust, adaptive monitoring frameworks will lead the charge, balancing innovation with uncompromising security.

Toward a Safer Digital Ecosystem

The future of fintech in APAC rests on fostering trust through secure yet frictionless interactions.

Advanced registration and real-time transaction monitoring, enriched by device intelligence and behavioral biometrics, are essential in this mission.

Fintech companies adopting these measures combat fraud effectively and deliver the superior, secure experiences customers demand. As fraud evolves, so must defenses.

Fintechs that embrace this proactive security approach are poised to thrive in APAC’s competitive, digital-first financial landscape, turning strong fraud prevention programs into their ultimate competitive advantage.

 

 

Featured image: Edited by Fintech News Singapore, based on image by 89stocker via Freepik

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]]> Optimising Cross-Border Payments Globally: Shaping the Economy of Tomorrow https://fintechnews.hk/34971/payments/visa-optimising-cross-border-payments/ Fri, 01 Aug 2025 05:42:19 +0000 https://fintechnews.hk/?p=34971 Cross-border payments are the fundamental infrastructure that facilitates the flow of money within an increasingly interconnected global economy, underpinning commerce between individuals, businesses, and governments worldwide. While traditional payment systems have historically struggled with inefficiencies such as high costs and slow processing times, addressing these challenges presents tremendous opportunities for innovation, expanding financial inclusion, and [...]

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]]> Cross-border payments are the fundamental infrastructure that facilitates the flow of money within an increasingly interconnected global economy, underpinning commerce between individuals, businesses, and governments worldwide.

While traditional payment systems have historically struggled with inefficiencies such as high costs and slow processing times, addressing these challenges presents tremendous opportunities for innovation, expanding financial inclusion, and making cross-border transactions faster, more secure, and more accessible.

Stakeholders across various sectors, including banks, fintech companies, regulators, and payment networks, must collaborate to create a resilient and inclusive payments ecosystem that promotes sustainable economic growth.

The Growth Imperative – A Booming Market

The payments market is experiencing extraordinary growth, with Asia Pacific (APAC) alone expected to see transaction flows reach $250 trillion by 2027.

This reflects a surging demand for seamless and efficient systems that support international commerce.

One key driver is the rising frequency of overseas consumer activity, with around 30% of shoppers now making international purchases on a weekly basis.

Additionally, projected B2B transactions are set to surpass USD 100 trillion by 2025,underscoring the critical need for scalable and secure infrastructure.

Countries such as Vietnam, Indonesia, and the Philippines play a pivotal role, as the development of inclusive and cost-effective payment solutions is essential to sustaining regional and global trade and supply chain growth.

The State of Payment Infrastructures

Modern payment infrastructure systems, such as India’s Unified Payments Interface (UPI) and South Korea’s Real-Time Gross Settlement (RTGS), are setting benchmarks by enabling real-time, cashless, and interoperable transactions.

UPI’s rapid growth, with a compound annual growth rate of 129% , exemplifies how efficient and user-friendly systems promote financial inclusion and regional cooperation.

Similarly, South Korea’s instant RTGS-based systems facilitate secure, fast settlements.

The success of these infrastructures highlights the importance of delivering intuitive and user-centric features such as QR codes and one-click payments.

These capabilities improve user experience, encourage adoption across diverse sectors, and expand accessibility for unbanked and underbanked populations.

Advancements in artificial intelligence (AI), machine learning (ML), and blockchain are transforming international payments by enabling real-time data analysis, seamless platform integration through APIs, and instant, secure settlements.

AI-powered systems continuously monitor transactions to detect anomalies, reduce fraud, lower operational costs, and enhance customer experience.

Generative AI, projected to grow at a 36% compound annual growth rate through 2030, is expected to save banks up to USD 900 million by 2028 while strengthening identity verification and fraud prevention.

At the same time, enhanced security measures such as Account Name Inquiry, tokenisation, and multi-factor authentication add critical layers of protection.

These innovations are essential to ensuring accuracy, safeguarding sensitive data, and building trust as cross-border payment volumes and complexity continue to grow.

Regulators worldwide are implementing initiatives aimed at reducing costs, enhancing speed, and promoting accessibility in cross-border payments.

The G20’s Cross-Border Payments Roadmap emphasises financial inclusion, particularly for small and medium-sized enterprises (SMEs), by establishing standards that support efficient international transfer systems.

The adoption of ISO 20022 messaging standards enhances data quality, compliance, and interoperability, which are crucial for establishing a universal and scalable payments infrastructure.

Regional collaborations, most notably ASEAN’s linkages between PayNow, PromptPay, and DuitNow, demonstrate how governments and regulators are working toward real-time, low-cost international transaction networks that serve diverse economies and populations.

These efforts lay the foundation for broader regional economic integration.

Unlocking the Full Potential of Cross-Border Payments

 

Despite persistent challenges such as slow processing times and high costs, technological innovations are unlocking new opportunities to transform the cross-border payments environment.

Blockchain-based liquidity solutions facilitate continuous, real-time currency liquidity management and settlement, reducing delays.

Tokenised deposits extend the security and speed of fund transfers, particularly in supporting supply chains and retail interfaces.

Additionally, expanding global payment networks are connecting local systems with international platforms, enabling wider participation and greater transparency.

These innovations are crucial for enabling faster, more affordable international transactions that include underserved populations, ultimately driving greater economic participation and growth globally.

Collaboration as the Cornerstone

Building a robust, scalable, and secure cross-border payments ecosystem depends on collaboration among banks, fintechs, regulators, and payment networks.

Banks provide the liquidity, trust, and infrastructure needed to support large-scale international transactions, while fintech firms drive innovation through agile and disruptive solutions.

Regulators play an essential role in establishing clear frameworks, including ISO 20022 and other standards for security and interoperability, which help reduce friction and ensure compliance.

Payment networks such as Visa Direct serve as critical connectors by enabling seamless international transfer capabilities and global scalability.

Through aligned objectives and strong cross-sector partnerships, stakeholders can address the complex challenges of international trade and open new pathways for continuous growth.

Working Together for Tomorrow’s Economy

The future of cross-border payments depends on cohesive action across industry, regulatory, and technological domains.

Key innovations, combined with strong standards and regional cooperation, will enable faster, cheaper, and more inclusive transactions.

As the entire financial ecosystem collaborates by leveraging blockchain, AI, shared standards such as ISO 20022, and regional platforms, global commerce can thrive with increased transparency, security, and accessibility.

Stakeholders who are united by a shared vision have the potential to create a resilient and future-ready payments infrastructure that powers global economic growth, empowers businesses of all sizes, and supports inclusive prosperity for the future.

The “Optimising Cross-Border Payments Globally: Shaping the Economy of Tomorrow” report is available here. 

 

 

Featured image: Edited by Fintech News Singapore, based on image by sodawhiskey via Freepik

 

 

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