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.
Hong Kong
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 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.
Niche Global picks Volante to underpin European entry
Hong Kong payments firm plans market expansion with Volante.
Singapore’s GoBear snaps up fintech AsiaKredit
GoBear’s bank partners will be able to tap underserved consumers.
SoFi acquires Hong Kong stock trading app 8 Securities
“Hong Kong, a financial capital of Asia, is ripe for innovation,” says SoFi’s CEO.
Hong Kong challenger ZA Bank picks OneSumX for regulatory reporting
The first virtual bank in Hong Kong selects Wolters Kluwer system.
Singtel’s NCS and NETS to develop electronic payments platform for central banks
The firms will also create a “next-generation” suite of central banking products.
Fintech Neat lands $11m to help SMEs trade between Asia-Pacific and Europe
The fintech landed Visa as an investor and new card partner.
Virtual bank Airstar launches pilot in Hong Kong
The digital bank will onboard roughly 2,000 customers.
Hong Kong’s first virtual bank opens its digital doors
Za Bank launches with incumbent-challenging interest rate.
HSBC joins Alibaba to offer Hong Kong’s online merchants quick loans
This is the first time HSBC will use third-party data to approve trade finance loans.
