Financial Services

Half of Hong Kongers willing to give third-party data access in open banking boost
17 Jan 19
They are more open to the tech than Australia and UK users.
Hong Kong families need at least $6.63m to cover dependents in case of death: survey
17 Jan 19
On the other hand, childless couples only need $3.29m in savings.
Where to park your money in 2019
15 Jan 19
It was an undeniably terrible year for equities, but experts are not completely writing them off in 2019.
Hang Seng Bank unveiled new digital floor at head office
15 Jan 19
It aims to encourage collaboration amongst its 2,400 employees with communal areas and flexible workstations.
Banks' 2019 loan growth cut to 2% as trade and mortgage loans take hit
14 Jan 19
Lending to Mainland firms has been trending downwards to 6.1% in September 2018.
2 in 5 APAC organisations are not ready to address new global regulations: study
11 Jan 19
Over half admit to not having plans to ensure compliance with local and global requirements in 2019.
SFC slaps $2.4m fine on FWD Life
11 Jan 19
The insurer failed to meet the required number of personnel with sufficient investment experience.
Up to 4% salary hike awaits tech workers in 2019
9 Jan 19
The demand will be driven in large part by fintech, as banks apply for their virtual banking licenses.
Hong Kong banks loan growth rebounds 5.2% in November
8 Jan 19
Business sentiment recovered mildly as corporates ramped up borrowing.
Hong Kong hikes base interest rates by 25 bp to 2.75%
21 Dec 18
This represents the fourth tightening in 2018.
Deutsche Bank sees exodus of 30% of workforce in Singapore and Hong Kong
19 Dec 18
This translates to almost 50 investment bankers leaving in the past six months.
Hong Kong banking industry needs to amp up skills on fintech and cybersecurity: study
14 Dec 18
Only 2 in 5 industry professionals have gone through fintech training courses.
More than half of Hong Kong banking professionals willing to work in GBA cities
14 Dec 18
Those employed in senior management positions are the most willing to transfer.
Investment product sales surged 34% to $508b in 2017
12 Dec 18
The double-digit growth came as Mainland firms beefed up their wealth businesses.
SFC slaps $1.5m fine on SFM HK Management over short selling violations
12 Dec 18
The fund became short of over a million shares in Great Wall Motor Company in 2015.
Hong Kong looks set to reclaim IPO crown with nearly US$300b haul in January-November
12 Dec 18
Proceeds from New York IPOs only hit US$205b as it settles for a tentative second place.
HKMA cuts down a third of virtual banking applicants
10 Dec 18
They failed to submit sufficient information on authorisation criteria.
Hong Kong's open banking movement lures interest beyond retail clients
10 Dec 18
SMEs and corporates also acknowledge the merits of the pivot.
HSBC installs ‘dementia' specialist staff in Hong Kong
7 Dec 18
They will assist the elderly with their finances.
Banks make do with falling loan growth as earnings lifeline
5 Dec 18
Gains from Chinese business will remain muted.
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.

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