Across the years 2014-2017, FinTech companies based in Hong Kong raised US$940 million, compared to US$627 million and US$325 million raised in Australia and Singapore respectively.
For me, one of the key elements in this report is that the maturity of the Asian markets means that the default position is no longer “R&D in US or Europe, build in Asia”.
The joint venture's virtual banking team consists of 100 people, including local talent, staff from Standard Chartered, and virtual banking experts from over
As with any seismic shift, there are risks and rewards, with some businesses already operating in markets or sectors that are well placed to take advantage of this transformation.
In the 1998 and 2008 economic crises, when large corporations collapsed, SMEs kept the economy pulsing.
More collaboration between fintech players and banks is to be expected in Asia, particularly in areas such as know-your-customer processes, anti-money laundering and digital identity management, including facial and voice recognition.