2019 Singapore Fintech Festival, a global fintech event organized by Monetary Authority of Singapore (MAS), in partnership with the Association of Banks in Singapore, and sponsored by AMTD Group, Deloitte and Prudential, was successfully held from November 11th to November 15th. This Fintech Festival attracted over 60,000 government officials, representatives of regulatory agencies, representatives of financial institutions, technology innovation companies, and institutional investors from more than 100 countries around the world to gather in Singapore, and to discuss technological innovation and development. Singapore Fintech Festival is the largest and most attended global fintech event in the world. AMTD Group has been the biggest supporter and grand sponsor to the Singapore Fintech Festival for three consecutive years.
The AMTD Singapore Innovation Center officially launched at the Singapore Expo on November 11th, 2019 during the Singapore Fintech Festival. Charles Ng, Associate Director-General of Invest Hong Kong, King Leung, Head of Fintech of Invest Hong Kong, and Hong Feng, Co-Founder and Senior Vice President of Xiaomi Corporation, Chairman and CEO of Xiaomi Finance attended the opening ceremony.
Professor Timothy W Tong, Chief Executive Officer of AMTD Foundation, Chairman of the Council of Hong Kong Laureate Forum, Former President of the Hong Kong Polytechnic University delivered a speech at the opening ceremony. Professor Tong said that rooted in Hong Kong, covering China and serving the globe, AMTD Group is committed to connecting the global capital and resource, promoting the innovation and development of fintech, especially the communication and cooperation of fintech between greater China and southern Asia. AMTD Group is highly optimistic about the development potentials and market space of Singapore and south east Asia, and looking forward to continuously expanding resources in Singapore and the ASEAN region; with innovation as the driving force and science and technology as the bond, AMTD Group will continue to promote communication and win-win results with ASEAN partners. AMTD Group has built the AMTD Singapore Innovation Center and looking forward to sharing the experience of the innovation and development of fintech.
AMTD Group specially invited Charles Ng, Associate Director-General of Invest Hong Kong to address the opening ceremony. “2019 Hong Kong Fintech Week” came to a successful close last week and followed by the grand opening of “2019 Singapore Fintech Week,” said Charles Ng. Hong Kong and Singapore are the financial centers of Asia. Although they are of two different regions, they share the same passion on fintech. On behalf of the Hong Kong government, Charles Ng showed appreciation to AMTD Group for representing the institutions of Hong Kong, devoting to the development of Hong Kong fintech, in connecting Hong Kong, Singapore, and south east Asia; making the Five-Starred Red Flag of PRC and the Hong Kong Bauhinia Regional Flag waving in the hall; introducing to the world that the development opportunities of the Greater Bay Area and the irreplaceable role of Hong Kong involved in the international stage; making the Pearl of the Orient shinning on the international financial stage and the scientific innovation platform. Charles Ng further pointed out that the road to fintech for Hong Kong has just begun, in addition to the recent announced new rules on cryptocurrencies initiated by the Hong Kong government, eight Virtual Banks will be in service and set up their branches one after another. The Airstar Bank, jointly established by AMTD Group and Xiaomi, is also one of the main participants. Charles Ng again showed his special gratitude to AMTD Group and Xiaomi Corporation for their devotion and effort to Hong Kong fintech and expected more exciting news to be announced in the near future; the development of Hong Kong fintech is promising.
Thereafter, Charles Ng, Associate Director-General of Invest Hong Kong, King Leung, Head of Fintech of Invest Hong Kong, and Hong Feng, Co-Founder and Senior Vice President of Xiaomi Corporation, Chairman and CEO of Xiaomi Finance, Timothy W Tong, Chief Executive Officer of AMTD Foundation, Raymond Yung, Co-Vice Chairman of AMTD Global Advisory Committee, Frederic Lau, Vice Chairman of AMTD Group, Chief Executive of Airstar Bank, Tim Fang, Head of Global Markets of AMTD jointly launched the event at the AMTD Singapore Innovation Center.
In the following events, King Leung, Head of Fintech of Invest Hong Kong highlighted the Hong Kong fintech ecosystem and its future development prospects. King Leung indicated that Hong Kong has crossed the border from a mature traditional financial center to integrate fintech into daily life and economic development in the past two years. The launch of eight Virtual Banks in Hong Kong in 2019, including Airstak Bank, jointly established by AMTD Group and Xiaomi Corporation, will bring major changes to the financial services industry in Hong Kong, putting enormous pressure on traditional banks and insurance companies to quickly break down, learn and integrate into the application of fintech. Hong Kong has unique advantages in the development of fintech, particularly the advantages of capital, opportunity, and talent. In this process, Invest Hong Kong is like a super router dedicated to building a vibrant fintech ecosystem in Hong Kong; strengthening cooperation with the Greater Bay Area fintech partners at the same time. King Leung showed appreciation to AMTD Group for making continuous investment, guidance, and support for the construction and development of Hong Kong fintech ecosystem. Hong Kong is used to be known as a Fintech Fishing Village, however, it has become the Super Bowl of Fintech three year later in 2019.