Financial Services
Bank loan growth may halve to measly 3% in December
Bank loan growth may halve to measly 3% in December
The steep decline is partially due to higher interest rate environment.
Asia's ultra wealthy stoke Hong Kong and Singapore's family office boom
The number of newly built offices may have grown 15% in first three quarters of 2018.
Blockchain-powered trade finance platform goes live
eTradeConnect will digitise the paper-intensive process.
Bank of East Asia debuts trade finance services on blockchain-powered platform
It will be available on eTradeConnect.
Singapore beats Hong Kong in Asia's open banking readiness rankings
The SAR still needs to work on extending APIs for banking needs.
Hong Kong beefs up e-wallet identity verification
Enhanced security features include two-factor authentication process.
Hong Kong suspends e-wallet top-ups amidst fraud reports in blow to Smart Banking push
Customers were hit by a combined loss of $180,000.
HSBC Hong Kong launches fund transfer service with Lu International partnership
It cuts transfer time from 1-3 days to within the same day.
Citi Hong Kong expands API tech in Octopus tie-up
Users of the Octopus app can easily apply for Citi Octopus Platinum Card.
TNG FinTech adds Indonesian firm WalletKu to e-wallet arsenal
WalletKu will join around 12 other e-wallets in TNG’s digital payments initiative.
Hong Kong makes huge headway in realising smart banking ambitions
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
Mainland-owned banks accounted for 38% of system assets and deposits by 2017.
SFC laments underperforming bank IPO sponsors
It is enhancing sponsor standards in order to reclaim the global IPO crown.
Robo-advisory platform Quantifeed raises US$10m in series B round
The proceeds will be used to fuel its expansion plans.
Digital bank Neat scores US$2m from Dymon Asia and Portag3 Ventures
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?
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
The proceeds from share sales hit $240b as of Q3.
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