Financial Services

Hong Kong show growing preference for professional financial advice
10 Aug 20
But family remains the top source of advice amongst wealthy residents.
Hong Kong regulators pacify fears after US sanctions
10 Aug 20
"Unilateral sactions" has no legal status in the city, the HKMA said.
Businesses spearhead fintech usage in Hong Kong
6 Aug 20
40% reported heavy usage of digital payments.
WeLab Bank rolls out in Hong Kong
5 Aug 20
Clients can open an account in five minutes.
Hong Kong to create hub for insurance-linked securities
30 Jul 20
A bill to transfer risk to capital markets was introduced in March.
Virtual banking knowledge remains moderate amongst Hong Kong customers
30 Jul 20
Neobanks are advised to partner with mobile wallets and offer credit cards to boost adoption.
Hong Kong's yuppies, low-income groups still underinsured: report
30 Jul 20
The city has one of the highest levels of insurance awareness.
Hong Kong-based wealth clients probed for pro-democracy ties
20 Jul 20
"Politically exposed persons" can have a hard time accessing banking services.
Debates arise on security law's effects on Hong Kong finance sector
12 Jul 20
Is there really a capital exodus from Hong Kong to Singapore?
Meet ZA Bank, Hong Kong's first virtual-only lender
12 Jul 20
The bank’s slogan of co-creation belies a strong charm offensive of attractive deposit rates.
Federated Hermes questions HSBC's support for security law
1 Jul 20
The firm expects companies to back moves supporting human rights.
Bank of East Asia launches cross-boundary mortgage loan service
1 Jul 20
Hong Kong customers may apply for mortgage loan for properties within the GBA.
Greater Bay Area regulators float wealth management connect scheme
30 Jun 20
It allows residents to invest in wealth products offered by banks in the area.
How FDT is modernising the trust scene
28 Jun 20
FDT is behind Asia’s first ​Rapid Settlement and Clearing Network (RSCN).
Bank transfers, digital wallets spur e-commerce market
24 Jun 20
The two methods are rising at CAGR of 12% and 11%, respectively.
Standard Chartered and HKTDC roll out market survey
23 Jun 20
The survey will look into business sentiment across the Greater Bay Area.
Insurtech OneDegree upgrades pet insurance
18 Jun 20
Enrollment age limit for pets has been raised to 11 years old.
Manulife Hong Kong pilots virtual sales platform
16 Jun 20
Products will be available to customers starting 15 June.
Hong Kong virtual bank Airstar launches services to the public
15 Jun 20
The bank offers savings, time deposit, and personal loan products.
Hong Kong's rich brace for ‘worst-case scenario'
15 Jun 20
The wealthy are opening offshore bank accounts and eyeing overseas property.
AIA Hong Kong rolls out remote insurance purchase feature
12 Jun 20
Clients will be able to purchase all but one of the policies via videoconference.
Link REIT secures $1b sustainability-linked loan from OCBC
11 Jun 20
It is its first sustainability-linked loan transaction in the Hong Kong dollar.
HSBC rebuked by US state secretary for backing China security law
11 Jun 20
The lender, along with Standard Chartered, has already been chided in Britain.
Mad dash for offshore accounts amidst security law
9 Jun 20
HSBC and Standard Chartered have seen high surges in enquiries.
HKMA, banking industry launch job programme
8 Jun 20
It offers 300 roles for students graduating in 2020 with a bachelor’s degree.
UnionPay, Bank of Communications remove cross-network ATM withdrawal fees
3 Jun 20
The exemption also covers customers in Macau.
Local finance firms lead in AI but regulations hinder growth
27 May 20
58% of financial firms in the city will utilise AI next year.
HSBC sees significant growth in new APAC wealth arm
26 May 20
Double-digit growth is on the horizon over the next three years.
PayPal pilots QR codes for in-person transactions
21 May 20
They are waiving seller transaction fees until 10 August.
COVID-19 to drive digital payments take-up in Hong Kong
20 May 20
E-payments firm Octopus said that mobile wallet usage rose 30% in February.
HSBC Life pilots new health insurance plan
19 May 20
It also combines business talent retention with wealth growth.
Hong Kong banks' asset quality battered by COVID-19 and protests
17 May 20
Exodus of corporate clients, mortgage risks, and dropping credit card use pose a big threat on revenues.
Bankers face ‘new normal' as they return to offices
14 May 20
Despite the measures, some have expressed relief at physically seeing their colleagues again.
Less than 20% ‘understand' fintech apps: survey
13 May 20
The majority of Hong Kong use such apps for personal finance.
Regulations to quell slight uptick in banks' credit losses
11 May 20
Credit losses will notably decline in 2021.
Manulife's Q1 core earnings climbed 10% to $1.4b
7 May 20
In-force business growth and higher sales spurred the growth.
AIA launches first robotic investment choice service
7 May 20
This will help clients purchasing new ILAS policies to build their investments.
HSBC Life launches video-conference insurance service
5 May 20
Retail banking clients registered in Personal Internet Banking can opt in.
Mid-sized banks most vulnerable to loan losses if pandemic persists: Moody's
30 Apr 20
Their exposure to SMEs and unsecured loans heightens the risks.
AXA releases first policy with dementia benefit
21 Apr 20
The plan has an annuity period of 10 to 20 years starting at the age of 50.

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