Financial Services

Hang Seng Bank beefs up fintech capabilities in Tencent tie-up
4 Dec 18
They will develop a remote account-opening solution.
Hong Kong to license first online-only insurer in December
3 Dec 18
The pioneer will be part of the new fast-track system.
Banks' loan growth eases to 2% in October
3 Dec 18
This represents the fourth straight month of decline.
Hong Kong finance M&As plunge to US$1.15b YTD amidst Beijing crackdown
28 Nov 18
This could mark the lowest possible deal volume in 13 years.
Asian banks rev up fintech partnerships to keep China's tech titans at bay
28 Nov 18
Incumbents are launching VC arms and innovation labs to avoid being outpaced.
Hong Kong beats Tokyo and Singapore to rank as Asia's top finance location
21 Nov 18
Its dominance, however, may be challenged by deepening trade tensions.
Exchange Fund recovers from massive hit amidst $1.6b gain in Q3
13 Nov 18
However, performance is likely to remain subdued amidst forex losses.
Hong Kong fintech investments more than doubled to US$550m in 2017: FS Chan
12 Nov 18
The level of investment exceeds that of Singapore, he says.
Faster Payment System processed 1.58 million transactions in October
7 Nov 18
The value of Hong Kong dollar-denominated transactions hit $33.29b.
Do banks have reason to fear as Chinese lending accelerates?
6 Nov 18
Mainland Chinese exposure accounted for nearly a third of total assets.
Bank loan growth may halve to measly 3% in December
5 Nov 18
The steep decline is partially due to higher interest rate environment.
Asia's ultra wealthy stoke Hong Kong and Singapore's family office boom
5 Nov 18
The number of newly built offices may have grown 15% in first three quarters of 2018.
Blockchain-powered trade finance platform goes live
2 Nov 18
eTradeConnect will digitise the paper-intensive process.
Bank of East Asia debuts trade finance services on blockchain-powered platform
31 Oct 18
It will be available on eTradeConnect.
Singapore beats Hong Kong in Asia's open banking readiness rankings
31 Oct 18
The SAR still needs to work on extending APIs for banking needs.
Hong Kong beefs up e-wallet identity verification
29 Oct 18
Enhanced security features include two-factor authentication process.
Hong Kong suspends e-wallet top-ups amidst fraud reports in blow to Smart Banking push
26 Oct 18
Customers were hit by a combined loss of $180,000.
HSBC Hong Kong launches fund transfer service with Lu International partnership
26 Oct 18
It cuts transfer time from 1-3 days to within the same day.
Citi Hong Kong expands API tech in Octopus tie-up
26 Oct 18
Users of the Octopus app can easily apply for Citi Octopus Platinum Card.
TNG FinTech adds Indonesian firm WalletKu to e-wallet arsenal
23 Oct 18
WalletKu will join around 12 other e-wallets in TNG’s digital payments initiative.
Hong Kong makes huge headway in realising smart banking ambitions
18 Oct 18
It launched a real-time fund transfer system, open API guidelines, virtual banks authorisation in 2018 alone.
Local lenders jostle for market share as Chinese banks encroach into home turf
17 Oct 18
Mainland-owned banks accounted for 38% of system assets and deposits by 2017.
SFC laments underperforming bank IPO sponsors
11 Oct 18
It is enhancing sponsor standards in order to reclaim the global IPO crown.
Malaysian bank loan growth may further soar in Q4
10 Oct 18
Loan growth in August went up to 5.4%, the highest it reached in 2018.
China further eases reserve ratio by 100 bps
9 Oct 18
It could help boost GDP growth amidst the escalating trade tensions.
Robo-advisory platform Quantifeed raises US$10m in series B round
4 Oct 18
The proceeds will be used to fuel its expansion plans.
Digital bank Neat scores US$2m from Dymon Asia and Portag3 Ventures
4 Oct 18
The proceeds will be used to boost onboarding and hiring processes.
Will the lack of mega-IPOs push Hong Kong out of the global IPO rankings?
4 Oct 18
With total funds raised at $54.8b, Hong Kong holds the fifth spot in the global IPO league.
Hong Kong nine-month IPO proceeds balloon 174% as pipeline looks fit to burst
3 Oct 18
The proceeds from share sales hit $240b as of Q3.
Bank loan growth slows to 8.4% in August as business sentiment sours
1 Oct 18
Domestic financing and mortgages took a beating.
OCBC Wing Hang Bank kills $425.9m sale of Hong Kong Life Insurance
1 Oct 18
The closing conditions have not been met in time.
Faster Payment System goes live
1 Oct 18
Customers can now make and receive real-time payments.
Approved mortgage loans up 7.7% to $47.7b in August
1 Oct 18
The number of mortgage applications also rose 26.3% to 17,963.
Hong Kong ends era of cheap money after hiking base lending rates to 2.5%
27 Sep 18
Banks are widely expected to hike prime rates soon.
Hong Kong set to vault to the top of global IPO league with $300b haul
26 Sep 18
A strong Q3 performance has boosted expectations of the SAR taking the top spot.
Hong Kong mulls remote bank account opening in the Mainland
25 Sep 18
Facial recognition technology and biometric methods may be used.
HKD posts largest growth in 15 years as liquidity tightens
24 Sep 18
The local currency climbed by as much as 0.63% to $7.793 against the USD.
Credit card transactions up 15.4% to $137.3b in Q2
24 Sep 18
The number of credit cards in circulation hit 20.06 million.
Hong Kong doubles down to capture the green finance opportunity
24 Sep 18
Around 15 green bonds with an aggregate size of US$8b were issued in H1.
Korea's Q2 e-payments highest since 2008
20 Sep 18
Average daily transactions jumped 17.4% to US$104.87m.

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