FinTech Futures: Top five stories of the week – 26 May 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
HKMA
BIS and HKMA launch trade technology challenge
New scheme kicks off with approval from a handful of Chinese regulators.
Hong Kong authority changes guidelines to boost fintech
Lenders can now use big data analysis to review applications.
Hong Kong grants four more virtual bank licences
These banks will be launched by Ant Financial, Xiaomi, AMTD, Ping An, and Tencent.
ZhongAn licensed to launch virtual bank in Hong Kong
Products will be developed with community input.
JP Morgan Chase fined by Hong Kong regulator for money laundering fails
Anti-money laundering and counter-terrorist financing not up to scratch.
Ping An rallies seven Hong Kong banks for blockchain trade finance platform
eTradeConnect is delivered by Ping An’s subsidiary OneConnect.
HKMA receives 29 applications for virtual licences
Only ten might meet all requirements.
Standard Chartered applies for HK virtual licence for new bank
The upcoming digital bank also got a new CEO.
Hong Kong hastens open banking ambitions
Hong Kong Monetary Authority publishes API framework.
Hong Kong regulator mulls academy of finance
The financial secretary in the 2018-19 budget tasked the HKMA to look at this.
Hong Kong regulator’s no phoney for banking plans
The Hong Kong Monetary Authority (HKMA) has unveiled a number of initiatives as it looks to improve the region’s use of payments, APIs and innovation. In a speech delivered during the Annual Banking Conference of the Hong Kong Institute of Bankers, Norman Chan, chief executive of the HKMA, outlined its grand ambitions. Chan says: “The […]
Hong Kong regulator grins thanks to financial inclusion wins
The Hong Kong Monetary Authority (HKMA) is in a happy mood as the region’s financial inclusion initiatives are progressing well. Norman Chan, HKMA chief executive, visited three retail bank branches in northern Tin Shui Wai area of Hong Kong today (17 August) to understand the situation of branch services from bank representatives and staff, and […]
Hong Kong kicks off fintech career accelerator scheme
Fintech is coming on strong in Hong Kong with the unleashing of a career accelerator scheme to tap into the juicy veins of young blood. The Hong Kong Monetary Authority (HKMA) and the Hong Kong Applied Science and Technology Research Institute (ASTRI) have launched their Fintech Career Accelerator Scheme (FCAS) induction day today (27 July), […]
Hong Kong regulator unveils private wealth management charter
Fair play is on its way as Hong Kong’s Private Wealth Management Association (PWMA) has adopted the “Treat Customers Fairly Charter for Private Wealth Management Industry”. Developed by the Hong Kong Monetary Authority (HKMA) and the PWMA, the charter has five “high-level principles” and examples of measures to guide PWMA members in their implementation. These […]
Hong Kong trade finance goes Deloitte-fully blockchain
Deloitte, the Hong Kong Monetary Authority (HKMA) and trade finance banks in Hong Kong have developed a distributed ledger technology (DLT) proof of concept (PoC) for trade finance. Industry participants include Bank of China (Hong Kong), the Bank of East Asia, Hang Seng Bank, HSBC and Standard Chartered (Hong Kong). The blockchain project has created […]
Hong Kong to implement Swift’s infrastructure resiliency service
Hong Kong has become the second jurisdiction to sign up to use Swift’s Market Infrastructure Resiliency Service to improve operation of its real-time gross settlement system.
