ASTRI - Hong Kong Applied Science and Technology Research Institute’s Post

As of November 2023, Hong Kong accounts for more than 10% of the global #digitalassets trading volume, trailing only behind the United States. A substantial #supply & #demand for digital asset solutions, together with favorable #regulatory environment and a mature #financialmarket with a robust #infrastructure and a rich talent pool, helps Hong Kong to see rapid #growth in the digital assets sector. Read more about Hong Kong's digital assets industry in ChainUp Blog: https://lnkd.in/gqxPcPuf Arthur Wat Michael Gao Canary Leung Paul Lui Kang Ying Ying

We are very excited to announce our upcoming webinar on 5 December 2023, hosted by the Hong Kong Monetary Authority (HKMA) and supported by Quinlan & Associates and KPMG China.   The webinar, titled “Redefining Wealth Management with Technologies: Challenges, Solutions and Success Stories”, will bring together Fintech and financial services experts to share their insights on Hong Kong’s current Wealthtech landscape, Fintech adoption roadblocks, and use cases.   Our CEO and Managing Partner, Benjamin Quinlan will be joined by a stellar panel, including: - Steffanie Yuen, Head of Hong Kong, Endowus - Alfian Sharifuddin, Head of Technology & Operations, DBS Bank - Alex Ypsilanti, CEO & Co-Founder, Quantifeed - Millie P., Alternate Chief Executive, WeLab Bank   The event will cover the following: - Wealthtech market update - Fireside chat with industry leaders - Sharing of successful Wealthtech initiatives driven by both Fintech users and providers   Secure your spot by registering here: https://lnkd.in/gGSfFMVH   We look forward to seeing you there!   #HongKong #Webinar #HKMA #Endowus #DBSBank #Quantifeed #WeLab #Fintech #WealthManagement #Fintech #FinancialTechnology #Wealthtech #TechnologySolutions #FinancialServices #Innovation #DigitalTools #DigitalTransformation #IndustryInsights

I am pleased to share the market update presentation that I delivered at the Wealthtech seminar hosted by the Hong Kong Monetary Authority (HKMA), Quinlan & Associates, and KPMG China.   Key takeaways:   1.    The wealth management market in Hong Kong is vast, representing an HKD 9 trillion AuM wealth pool as of the end of 2022.   2.    While high net worth individuals (‘HNWIs”) and ultra-high net worth individuals (“UHNWIs”) constitute crucial segments of the market, the mass retail (< USD 1 million) and core affluent (USD 1-5 million) segments together represent 50% of Hong Kong’s total wealth.   3.    Digital delivery of wealth management services is increasingly favoured among Hong Kong customers: (a) the mass retail segment (78%) showed a strong preference for fully digital channels; and (b) core affluent (38%) and HNWI / UHNWI (49%) customers highlighted a preference towards hybrid models.   4.    Despite rapidly evolving customer expectations, Wealthtech adoption in the city is not keeping pace; 67% of financial institutions in Hong Kong have either not yet adopted – or are still in the process of implementing – Wealthtech solutions.   5.    As the same time, the market is being disrupted by: (a) discount / zero-commission online brokerages, who are driving a growing number of traditional brokers out of business amidst ongoing margin compression; and (b) a spate of robo-advisors, who have set up a presence in Hong Kong in recent years, amassing nearly 350,000 customers and managing HKD 54 billion in customer assets by the end of 2022.   6.    With HKD 7.7 trillion in local retail deposits up for grabs, competition in the Wealthtech space is rapidly heating up on all fronts – from virtual banks to brokers, and from e-wallets to institutional asset managers.   If you’re interested in learning more about how wealth managers in Hong Kong can embrace Wealthtech solutions, download our presentation: https://lnkd.in/gHDN_DVY   Email our team at enquiries@quinlanandassociates.com to discuss how we can help support your Wealthtech aspirations.   #wealthtech #fintech #fintechhk #hongkong #hksar #hkma

The Japan FinTech Festival commences today! Join us at the Kanda Myojin Shrine, #Tokyo, at 3:15pm for the Strategic Industry Round Table 'The challenges in digitizing trade finance across jurisdictions.' MonetaGo CEO, Neil Shonhard, will be joined by moderator JC Perranas of Daiwa Institute of Research, and with Arvind Sankaran of Asian Development Bank (ADB), Robert (Bob) Wardrop of University of Cambridge and RegGenome, and David Inderias of FSCO (Fresh Supply Co), as this session takes a deep dive into understanding current challenges and discuss solutions to overcome these hurdles. See the link in comments for more information on the Japan FinTech Festival, and to register. #digitization #tradefinance #globaltrade #fraudprevention #securefinancing

We are pleased to share the market update presentation that our CEO & Managing Partner, Benjamin Quinlan, delivered at the Wealthtech seminar hosted by the Hong Kong Monetary Authority (HKMA), Quinlan & Associates, and KPMG China.   Key takeaways:   1.    The wealth management market in Hong Kong is vast, representing an HKD 9 trillion AuM wealth pool as of the end of 2022.   2.    While high net worth individuals (‘HNWIs”) and ultra-high net worth individuals (“UHNWIs”) constitute crucial segments of the market, the mass retail (< USD 1 million) and core affluent (USD 1-5 million) segments together represent 50% of Hong Kong’s total wealth.   3.    Digital delivery of wealth management services is increasingly favoured among Hong Kong customers: (a) the mass retail segment (78%) showed a strong preference for fully digital channels; and (b) core affluent (38%) and HNWI / UHNWI (49%) customers highlighted a preference towards hybrid models.   4.    Despite rapidly evolving customer expectations, Wealthtech adoption in the city is not keeping pace; 67% of financial institutions in Hong Kong have either not yet adopted – or are still in the process of implementing – Wealthtech solutions.   5.    As the same time, the market is being disrupted: (a) discount / zero-commission online brokerages, who are driving a growing number of traditional brokers out of business amidst ongoing margin compression; and (b) a spate of robo-advisors, who have set up a presence in Hong Kong in recent years, amassing nearly 350,000 customers and managing HKD 54 billion in customer assets by the end of 2022.   6.    With HKD 7.7 trillion in local retail deposits up for grabs, competition in the Wealthtech space is rapidly heating up on all fronts – from virtual banks to brokers, and from e-wallets to institutional asset managers.   If you’re interested in learning more about how wealth managers in Hong Kong can embrace Wealthtech solutions, download our presentation: https://lnkd.in/gAvR_Tgi   Email our team at enquiries@quinlanandassociates.com to discuss how we can help support your Wealthtech aspirations.   #wealthtech #fintech #fintechhk #hongkong #hksar #hkma

#Hong #Kong's #Data #Opportunity: A #Synergistic #Partnership Hong Kong stands at a pivotal juncture, poised to become a global data hub. To fully realize this potential, a strategic alliance between the #Hong #Kong #Exchanges and #Clearing Limited (#HKEX) and the #Hang #Seng #Indexes Company is imperative. The Hang Seng Indexes Company, with its deep-rooted understanding of the Hong Kong and mainland Chinese markets, possesses a wealth of data. This data, when coupled with the #HKEX's robust trading platform and market infrastructure, can be transformed into a powerful engine driving innovation and economic growth. A unified data platform, jointly developed by these two entities, could revolutionize the way investors and businesses operate. By combining market data, economic indicators, and consumer behavior patterns, invaluable insights can be generated. These insights could inform investment decisions, optimize supply chains, and identify emerging market trends. Furthermore, such a #collaboration can position Hong Kong as a #bridge between #Eastern and #Western #financial #markets. The platform could offer data solutions tailored to the specific needs of both regions, facilitating cross-border investments and trade. By providing a comprehensive and reliable data ecosystem, Hong Kong can attract global financial institutions and technology companies, solidifying its status as a leading international financial center. This strategic partnership is not merely about data aggregation; it's about creating value. By leveraging advanced analytics and artificial intelligence, the combined data can be transformed into actionable intelligence. This can lead to the development of new financial products, risk management tools, and investment strategies. In conclusion, the synergy between the HKEX and the Hang Seng Indexes Company presents a golden opportunity for Hong Kong. By harnessing the power of #data, they can propel the city to new heights as a #global #financial and #technological leader. It's time for Hong Kong to embrace its data destiny.

Throwback in March 2021....Julia Chin Liang Jie Ng Amarjeet Kaur Valerie Tan Zehan T. Tengku Mu'adzam Sadruddin Joyce C. Jean Charles Salvin Febryanty Putry thanks to FortNynja e-Fintech School (J HC Fang L.), we shared our journey. COVID-19 pandemic had indeed accelerated the adoption of digitalisation among millions of Malaysians, forcing many traditional brick-and-mortar businesses to pivot online and go virtual for their eCommerce, including those in the entertainment, services and education sectors, just to name a few. The government, under the Malaysia Digital Economy Blueprint, also undertook efforts to nurture future digital talents, as well as upskill and reskill the existing workforce moving towards digital transformation in the advanced digital economy. Fintech is indeed one of the key enablers to drive innovations/digital transformation in all key sectors, particularly the banking sector, which has since witnessed the birth of digital banks to serve the undeserved and unserved, aimed at improving financial access for gig workers, SMEs, and lower-income groups, aligned with Financial Inclusion framework under BNM Financial Sector Blueprint 2022-2026.

Singapore Fintech Festival 2023: Top 9 Highlights You Might Have Missed 🙌 Singapore Fintech Festival 2023 was a huge success, attracting over 200,000 participants from more than 150 countries. The event showcased the latest innovations and trends in fintech, as well as the opportunities and challenges for the industry in the post-pandemic era. 🌟💼 What were the key takeaways from the festival? What were the most exciting announcements and launches? What were the best moments and insights from the speakers and panelists? 🤔 Join us for a live recap with experts and industry leaders on our platform. Learn from their insights and experiences, and get your questions answered. 💡 Don’t miss this chance to stay updated on the latest fintech news and trends. Register now and get a free trial of Spiking’s AI-powered platform to track the trading activities of financial giants and copy their trades. 📈💰 Like, share, and comment on this post to spread the word. Visit here: https://spi.ke/mc25 Dr. Clemen Chiang (PhD, MBA) #SingaporeFintechFestival #FintechInnovation #IndustryTrends #PostPandemicEra #FintechEvent #KeyTakeaways #InnovationAnnouncements #SpeakerInsights

Destination Vietnam: UK Fintechs Invited to Explore Southeast Asian Markets: Spotlight on Vietnam: UK fintech companies gear up for a journey into the Southeast Asian market as part of trade mission.