Hong Kong

The latest fintech news, resources and expert analysis in Hong Kong by the leading intelligence provider for the worldwide fintech community.

Bain Capital taps Chekk for KYB and KYC solutions

Chekk says its SaaS solutions “remove the pain and costs” from interactions between companies and customers.

HSBC-backed trade platform Serai shuts down

Serai was on a mission “to simplify global trade” by providing supply chain solutions to brands and manufacturers.

ICYMI fintech funding round-up: Tranch, Quantifeed, Chekk & Crowd Data Systems

A handy round-up of the recent funding endeavours of fintech companies across the globe.

Babel Finance raises $80m Series B

Babel Finance bags $80m Series B at $2bn valuation

The firm says it limits business to Bitcoin, Ethereum and stablecoins, and serves around 500 “select clientele”.

Hong Kong’s Planto partners NZ fintech Cogo to promote sustainability

The new software will enable consumers and small businesses to view their daily carbon footprint.

Mastercard, Pine Labs and DBS Bank to roll out BNPL credit card offering

The solution will be available on all DBS Mastercard, Visa and American Express credit cards.

FX platform M-DAQ acquires B2B cross-border paytech Wallex

The deal forms part of M-DAQ’s growth strategy as it looks to expand into new international markets.

Challenger bank Mox makes two senior tech hires

Mox has a new CIO and a new chief data, security, and innovation officer (CDSIO).

AI-focused fintech Qraft Technologies secures $146m SoftBank investment

Qraft’s US CEO says investment management is “ripe for disruption” thanks to AI.

Taipei Fubon Bank revamps private banking tech with Avaloq

The roll-out will start in Hong Kong and Singapore, followed by the onshore market of Taiwan.

UK paytech Rapyd acquires Neat for Asian expansion

Neat provides a cross-border trade enabling platform for small businesses and start-ups.

WeLab to launch new digital bank in Indonesia following BJJ acquisition

WeLab has raised $240m to fund the acquisition – “the largest fintech funding in Indonesia in 2021”.

Finastra offloads Fusion Summit treasury business in China, Macau and Hong Kong

The buyer is CloudWing Network Technologies, a subsidiary of Hundsun Technologies.

BNPL start-up Pace raises $40m in pan-Asian Series A

The Singapore-based company has plans for international expansion.

Airwallex adds $100m funding with Series E extension

The new capital injection adds to the firm’s $200m Series E funding.

Singapore fintech Sleek raises $14m to fund global expansion

The company’s platform acts an ‘operating system’ for entrepreneurs and small businesses.

Hong Kong-based Qupital raises $150m to boost expansion plans

Partners in Series B include Citi, GBA Homeland and Nordstar.

Filipino BaaS player Netbank picks Chekk for KYC services

Netbank to integrate Chekk platforms into its white-label offerings for customers and businesses.

BIS finds CBDC-blockchain combo outclasses correspondent banking

Its new project, mBridge, experiments with new CBDC combinations.

Challenger bank Mox appoints former ING exec Barbaros Uygun as CEO

Current CEO Deniz Güven will step down with effect from 27 September.

UBS fined by Hong Kong’s SFC for compliance breaches

SFC slaps $1.5 million fine on Swiss bank for multiple issues.

HSBC on track to hire 1,000 wealth managers in Asia before year end

In 2020, the bank’s Asian business reported $12.8 billion in profits.

Dutch VC Finch Capital snaps up Wirecard’s APAC assets

The purchases were made through Nomu Pay.

HSBC’s Hang Seng Bank to appoint first female chairman Irene Lee

In the short-term, Lee’s focus is on putting Hong Kong’s economy “back on the road to recovery”.

Hong Kong and China pair up on digital currency experiment

The two have joined with Thailand to promote commerce in Southeast Asia.

Owner of Hong Kong robo-advisor Aqumon lands Alibaba-backed $30m

Aqumon offers B2C and B2B solutions.

Hong Kong challenger WeLab Bank goes live on Temenos Transact

The neobank launched a few months ago.

Chinese regulator approves Hong Kong leg of Ant’s $30bn IPO

The company still needs approval from the Hong Kong stock exchange’s listing committee.

Airwallex adds $40m to Series D round, hits $200m raised for 2020

Aussie-founded fintech plans to use cash to expand into new markets.

Standard Chartered launches Mox Bank in Hong Kong

The virtual bank uses Thought Machine’s core banking system.

Hong Kong virtual bank Livi picks Wolters Kluwer for regulatory reporting

New bank wants OneSumX to cover its compliance.

HKEX appoints Credit Suisse’s Richard Wise as new CRO

Wise steps in to replace John Killian, who retires from the role.

Standard chartered

Standard Chartered hires new global head of technology

Cat Rüst joins the bank from an executive role at UBS.

BIS and HKMA launch trade technology challenge

New scheme kicks off with approval from a handful of Chinese regulators.

HSBC and Microsoft partner to support Hong Kong SMEs

The two firms have signed a year-long partnership.

Third wave of COVID-19 forces Hong Kong banks to close branches

11 lenders will partially or completely shut down operations at some 58 branches.

Alibaba’s Ant plans Hong Kong IPO

“It is looking at selling between 5% and 10% of its shares in an IPO,” according to sources.

Railsbank signs on Hong Kong fintech Statrys

Open banking platform continues expansion in Asia.

HKEX announces sustainable finance exchange Stage

Hong Kong exchange plans to educate stakeholders on the benefits of ESG.

HSBC launches e-wallet PayMe for teens in Hong Kong

The adult version already has 1.9 million customers across Hong Kong.

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