Tagged: hong kong monetary authority

October 29, 2020 @ 9:04 pm By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) has posted a “preview” of the upcoming Hong Kong Fintech Week 2020 that is scheduled to take place next week. Supported by the HKMA, the event is described as the city’s “flagship Fintech event.” Like many other conferences, the… Read More

August 21, 2020 @ 10:40 am By JD Alois  |  

The Hong Kong Institute for Monetary and Financial Research (HKIMR), the research segment of the Hong Kong Academy of Finance (AoF), has published a on AI and banking. Entitled “Artificial Intelligence in Banking: The Changing Landscape in Compliance and Supervision” the report seeks to provide… Read More

August 3, 2020 @ 8:51 am By JD Alois  |  

The Bank for International Settlements Innovation Hub (BISIH) Centre in Hong Kong and the Hong Kong Monetary Authority (HKMA) have partnered on a trade finance project to highlight the opportunity to improve the sector of finance with technology. The “TechChallenge — Digitising Trade Finance” is… Read More

August 3, 2020 @ 12:16 am By Omar Faridi  |  

WeLab Bank has confirmed the public launch of its digital banking services. WeLab Bank is notably the only stand-alone firm to acquire a virtual bank license from the Hong Kong Monetary Authority (HKMA), the city-state’s de facto central bank that’s also responsible for promoting the… Read More

July 27, 2020 @ 11:49 am By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) has distributed a letter asking “authorized firms” to support the development of regulatory technology or Regtech. The HKMA says its ultimate objective is to inspire firms like banks to adopt Regtech to enhance the effectiveness of their risk management… Read More

May 21, 2020 @ 10:23 pm By Omar Faridi  |  

Over the course of the next ten years, banking institutions are planning to play a major role in supporting Fintech projects and the adoption of all-digital platforms. A new report suggests that incumbents feel confident that they won’t be completely replaced or displaced by Fintechs…. Read More

March 30, 2020 @ 8:01 am By Omar Faridi  |  

Yves Roesti, Sean Huang, Xuna Shao and Joshua Choy from Synpulse, a financial services consulting company, point out that most digital banks were launched without physical branch locations. What makes neobanks stand out from incumbents is their ability to leverage technology to differentiate their product… Read More

March 19, 2020 @ 8:07 pm By Omar Faridi  |  

There are many outstanding or unanswered regulatory questions, after the recent guidelines provided by the Hong Kong Securities and Futures Commission. They require virtual asset fund managers to work with licensed custodians as they are tasked with controlling or managing assets both on-chain, and on… Read More

March 12, 2020 @ 9:46 pm By Omar Faridi  |  

The People’s Bank of China (PBoC) has reportedly acquired 32.35 million RMB (appr. $4.7 million) in special funding in order to finance the ongoing development of its blockchain or distributed ledger technology (DLT)-enabled trade finance platform. The funding, which will be gradually injected during a… Read More

March 1, 2020 @ 6:10 pm By Omar Faridi  |  

Macau Pass S.A., the developer of a contactless smartcard (previously called Transmac IC Card), first launched the Transmac over 20 years back (in 1999). The card may be used to conveniently pay for bus fares, everyday shopping, and dining with many more retailers expected to… Read More

January 22, 2020 @ 8:22 am By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) has posted a deck on its investigation into Central Bank Digital Currency (CBDCs). Project LionRock is the CBDC blockchain from Hong Kong and Inthanon is from Thailand as the two partnered in the project. The HKMA said it developed… Read More

January 4, 2020 @ 8:17 am By Omar Faridi  |  

The Hong Kong Institute of Bankers (HKIB) has onboarded six digital banks as corporate members according to a note published by the association. The HKIB is a non-profit organization that offers training and certification programs to Hong Kong-based financial institutions. The virtual banks that have… Read More

December 23, 2019 @ 5:32 pm By Omar Faridi  |  

ZA Bank Ltd. is reportedly testing internet-only banking solutions in Hong Kong, which notably makes it the first organization to provide such services in the city as the Asian financial hub continues to promote the development of Fintech-related projects. The Hong Kong Monetary Authority began… Read More

December 23, 2019 @ 11:51 am By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) has published a report entitled “Reshaping Banking with Artificial Intelligence.” The Report is part of a series of publications on applying AI technology, including Robo-advisors, to the banking industry. Hong Kong has emerged as a top Asian Fintech hub… Read More

July 5, 2019 @ 7:14 am By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) and Autorité de Contrôle Prudentiel et de Résolution (ACPR) in France have signed a Memorandum of Understanding (MoU) to “enhance collaboration between the two authorities in supporting Fintech innovation. The French ACPR is a supervisory authority attached to the… Read More

July 4, 2019 @ 7:55 am By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) has issued a statement on the launch off the Bank for International Settlements (BIS) Innovation Hub opening in Hong Kong. BIS announced on June 30th its intent to open several Fintech focused hubs with Hong Kong becoming the first…. Read More

June 25, 2019 @ 12:15 pm By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) has posted a deck on GFin or the Global Financial Innovation Network. Hong Kong has emerged as a leading Fintech hub having embraced innovation in financial services. GFiN was launched by the UK Financial Conduct Authority (FCA) a bit… Read More

June 8, 2019 @ 5:40 pm By JD Alois  |  

Invest Hong Kong Appoints New Head of Fintech King Leung has been appointed Head of Fintech at InvestHK which took effect in early May. Leung will lead a specialist Fintech team with the objective of attracting top innovativeFfintech companies, entrepreneurs, investors, accelerators and R&D institutions… Read More

May 14, 2019 @ 7:42 am By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) have signed a Memorandum of Understanding (MoU) to collaborate on Fintech innovation between the two regulatory authorities. The MoU was signed between Norman Chan, Chief Executive of the HKMA, and Veerathai Santiprabhob, Governor… Read More

May 9, 2019 @ 8:33 am By Samantha Hurst  |  

The Hong Kong Monetary Authority (HKMA) has issued four more virtual banking licenses. The newly minted digital banks include: Ant SME Services (Hong Kong) Limited, Infinium Limited, Insight Fintech HK Limited, and Ping An OneConnect Company Limited. HKMA said that the four newly licensed virtual… Read More