Hong Kong-based fintech platform WeLab announced an artificial intelligence partnership with Google to accelerate digital banking across Asia Pacific, as the company targets serving 500 million users by 2032 with AI-powered financial services.
The collaboration will see WeLab leverage Google’s advanced AI models and cloud infrastructure to optimize operations, innovate product design and boost marketing efficiency, the companies said in a statement.
WeLab will use Google Cloud as one of its preferred cloud partners to underpin its regional expansion strategy, enabling rapid deployment of AI-powered solutions to new markets and providing a competitive edge over traditional financial institutions.
The fintech has already established operations on Google Cloud in Indonesia, serving as a blueprint for broader regional growth across Asia.
“Based on our internal data, we estimate to deliver an impressive 42.4% efficiency gain for WeLab in the next five years,” said Simon Loong, founder and group CEO of WeLab. “By partnering with Google, we can leverage its advanced AI and agentic capabilities to further accelerate adoption.”
Under the partnership, WeLab will deploy AI agents built with Google Cloud’s capabilities, starting with an internal AI Investment Research Agent that provides employees near-instant investment insights from external and internal data sources.
The AI Research Agent will be built using Gemini models on Vertex AI and Google’s Agent Development Kit to ensure seamless integration across systems.
WeLab’s financial solutions will increasingly tap Google’s AI models for enhanced customer personalization across foreign exchange, lending and wealth management services. The company plans to develop customer-facing AI agents that provide instantaneous, personalized financial insights and recommendations.
“AI is creating immense opportunities for Hong Kong’s world-class fintech industry,” said Michael Yue, managing director and general manager of Google Hong Kong. “We’re proud to support innovators like WeLab to leverage our full AI stack as they transform their business.”
The partnership aims to democratize access to high-quality financial research previously limited to institutional investors, embedding AI capabilities directly into customer experiences while ensuring compliance with local regulations and responsible AI frameworks.
WeLab’s strategy reflects the broader trend of fintech companies racing to integrate AI technologies to compete with traditional banks and capture market share in Asia’s rapidly digitizing financial services sector.