FINTECH

With Hong Kong being an international financial centre, its financial services sector remains one of the most important economic pillars, accounting for 21.3% of the city’s GDP and providing some 273,000 jobs in 2019. Hong Kong was ranked 5th in the Global Financial Centres Index (GFCI) and hosts the largest pool of RMB liquidity outside Mainland China. More

An executive order issued on 5 January adds eight apps to the list of U.S.-banned smartphone apps based in mainland China, although it provides 45 days advance notice of any enforcement of the new ban. More

The Smart Investment Advisor platform from Contrendian enables investors to manage their portfolio easily by obtaining advice via the platform. Frank Ho and Walter Cheung, the co-founders, talked about Hong Kong’s fintech market. They believe the conservative supervision has held back start-ups’ efforts to roll out novel products. They are looking forward to an improved regulatory environment which is responsive to technological developments. More

Established in Tel Aviv, Israel, in 2016, The Floor is a Fintech company that works with tier-1 banks to drive digital transformation and promote disruptive innovation. It aims to empower banks to solve business challenges and accelerate time to market through its intelligent technology platform. The company sees the success of the Greater Bay Area initiative as a key component in building the banks of the future. More