Hong Kong Fintech Week
Organized by InvestHK, a HKSAR government department, supported by the Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission (SFC), the Insurance Authority (IA) and the Hong Kong Stock Exchange (HKEX), and with AMTD Group as the sole strategic partner, Hong Kong Fintech Week 2019 took place from November 4th to 8th in Hong Kong and Shenzhen. This is the second year in a row that AMTD Group serves as a sole strategic partner for Hong Kong Fintech Week.
As the opening event on the agenda of Hong Kong Fintech Week 2019, AMTD Innovation Lab attracted over 200 guests from all over the world, including Fintech entrepreneurs, industry investment leaders, principals of regulators and internationally renowned scholars, to jointly showcase Hong Kong’s growing influence and cohesion in the international Fintech community. As a pioneer and leader in Hong Kong Fintech area, AMTD always upholds the spirit of openness and innovation, takes root in localization and devotes to be globalized, and makes full use of its unique strategic position and its international influence to promote the vigorous development of Fintech and international communication in Hong Kong.
AMTD Innovation Lab starts Hong Kong Fintech Week
Professor Timothy W. Tong, PhD, BBS, JP, CEO of AMTD Foundation, Member of AMTD Global Advisory Committee, Chairman of Hong Kong Laureate Forum, Director of Airstar Bank, Former President of the Hong Kong Polytechnic University, gave opening remarks. Prof. Tong said that Hong Kong has the best opportunities for Fintech development and of greatest potential. As an active participant, leader and facilitator in Hong Kong’s Fintech sector, AMTD welcomes all guests to exchange new ideas at this event, playing an important role in the development and application of Fintech in Hong Kong and Greater Bay Area.
Hong Kong Virtual Banking Opportunities & Future
The topic of the first panel discussion in AMTD Innovation Lab was: “Hong Kong Virtual Banking Opportunities & Future.” Panelists at the forum discussed the definition, value, technology and future development of virtual banking. The moderator was Jame Dibiasio, Founder and Editor of DigFin. Dr. Frederic Lau, Vice Chairman of AMTD Group and Chief Executive of Airstar Bank, Guido Buehler, CEO of SEBA Bank, Jasmine Lee, Partner and Virtual Banking Campaign Leader of Ernst & Young, Manish Diwaan, Managing Director of ASEAN Financial Innovation Network (“AFIN”), and Veronica Fung, Board Member of Hong Kong Fintech Association participated in the discussion as panelists.
Asia Fintech Landscape & the Role of Hong Kong
Michelle Li, Head of Research of AMTD Group, gave a keynote speech on “Asia Fintech Landscape & the Role of Hong Kong.” Michelle thought, the rapid development of global Fintech has shown many new features and trends: current Fintech brands are moving into the mainstream market. Fair pricing, enhancing their own transparency and participation are the keys to Fintech startups to build the trust from users. Technology companies can serve a wider market. Banks should follow the trend of Fintech development and change from passive service provision to a more active direction. The deconstruction and reconstruction of open banking and banking services are also redefining the form of banking services. At the same time, in the development of Fintech, data security is of paramount importance. Finally, Michelle emphasized Hong Kong’s natural advantages and innovation capabilities as an international Fintech center. Hong Kong’s Fintech has broad prospects for development in wealth technology, insurance technology, banking technology, and digital identity authentication.
Manish Diwaan, Managing Director of ASEAN Financial Innovation Network (AFIN), demonstrated AFIN, the leading bank of innovative Fintech companies in Asia. First, Manish analyzed the difficulties of cooperation between traditional financial institutions and Fintech companies. AFIN has proposed its own solution to these obstacles – cooperation-deconstructing and integrating the APIs of financial institutions and defining them as APIX. APIX’s main sources of information include global financial supermarket products, API catalogs, user personal IDEs, general APIs, and confidential data. By connecting financial institutions and Fintech companies, as well as the internal interconnection of financial institutions and Fintech companies, it reduces corporate costs and improves the degree of digital operations, thereby greatly improving efficiency and transforming business models.
Hong Kong Innovation & Technology Power
The topic of the second panel discussion in AMTD Innovation Lab was: “Hong Kong Innovation & Technology Power.” The moderator was Michelle Li, Head of Research of AMTD Group. Andy Chan, Founder of Qupital, Angie Lin, Co-founder and CIO of Assured Asset Management, Max Liu, Co-founder and CEO of EMQ, Stephen Wong, Co-founder and CEO of Dory Network Technology participate in the discussion as panelists. The guests focused on the support and challenges facing by the Hong Kong Fintech companies.
Promote the development and innovation of Fintech in Hong Kong
At the end of the forum, Dr. Frederic Lau, Vice Chairman of AMTD Group and Chief Executive of Airstar Bank, made closing remarks. Dr. Frederic Lau thanked the honorable guests for visiting the AMTD Innovation Lab and shared their valuable opinions on Fintech, wishing the guests would benefit from the subsequent events of the Hong Kong Fintech Week, jointly promoting the construction of Fintech industries in Hong Kong and the Greater Bay Area, and jointly promoting trade, investment, exchanges, international development and cooperation between the Greater Bay Area and major international economies.