FinTech

Hong Kong FinTech Week 2019: InvestHK Announces Significant Expansion

MEDICI

To strengthen Hong Kong’s status as the leading international location for FinTech business in Asia, InvestHK has announced a significant expansion of its annual Hong Kong FinTech Week, moving to a bigger venue to accommodate a greater variety of program, business events, exhibitors, and attendees after the success of the 2018 edition. Get a glimpse of the 2018 edition here.

Now in its fourth iteration, the Hong Kong FinTech Week 2019 will be held at the AsiaWorld-Expo from November 4–8, 2019, in close vicinity to the Hong Kong International Airport to welcome more worldwide participants. This year, the event is expected to welcome more than 10,000 attendees, 250+ speakers, 4,000+ business meetings, 400+ media persons, and 150+ FinTech exhibitors.

“We now have the chance to grow the event further. And, with the airport expansion and the new Hong Kong-Zhuhai-Macau Bridge on Lantau, we will show the participants the “Double Gateway” role of Hong Kong,” said Charles Ng, Associate Director-General of Investment Promotion at InvestHK.

Attendees will hear from globally renowned experts in technology innovation, meet the world’s most innovative FinTechs and leading industry experts, experience China’s Silicon Valley – Shenzhen via companies’ visits, discover the latest technology solutions from the exhibitors, and meet the fastest-growing FinTech startups from China, Asia, and across the world.

What is new in 2019?

  • Virtual banks and digital-only insurers will be among the key topics

  • Greater Bay Area FinTech Summit covering arising opportunities across the region

  • Doubling the expo size to 18,000 square meters

  • Growing to over 10,000 attendees from 70+ economies

  • Chatham House stage for off-the-record talks with key CEOs and founders

  • Hardcore Tech stage to dive into the technology side of the industry, such as AI, APIs, Cloud, DLT, and more

  • Even more business networking and matchmaking opportunities

It is a good time to join the FinTech Week. The Hong Kong Monetary Authority (HKMA) announced the award of eight virtual banking licenses. These new virtual banks are expected to take 6–9 months to launch their initial banking services, meaning that the Hong Kong FinTech Week in early November is well-timed for them to showcase their services.

Also this year, the Open Application Programming Interface (API) Framework for the Hong Kong banking sector has taken effect. The open APIs involve around 130 sets of information covering all financial data and important information. Together with over 650 new datasets, which will be released in 2019 by other government bureaux and departments, these encourage more parties to provide innovative and integrated solutions.

The new developments this year follow last year’s launch of the Faster Payment System, the Hong Kong Common QR Code, and trade finance blockchain – all of which contribute towards Hong Kong’s appeal as a launch pad for FinTech companies in Asia.

According to InvestHK’s recent study of over 550 FinTech companies in Hong Kong, 52% of the founders are from overseas, while the remaining founders are from Hong Kong or mainland China. About 61% base themselves in Hong Kong for global expansion, and more than a quarter (28%) target Greater China. The companies do see Hong Kong as a regional base for business expansion. Besides, 51% of the companies are three to four years old or even longer. It demonstrates that the FinTech ecosystem here is maturing.

All this helps explain the appeal of Hong Kong FinTech Week, which is so effective at connecting the East and the West. In 2018, it had a record number of attendees from more than 50 economies. Over 260 speakers shared their vision, including top executives from Ant Financial, Tencent, Xiaomi, WeBank, WeSure, Ping An, Lufax, Yunfeng, ZhongAn Insurance, PayPal, Grab Financial, Revolut, Starling Bank, Tinkoff Bank, AMTD Group, Standard Chartered, and Citi. There were a series of business matching meetings and side events such as the innovation lab tours and the involvement of universities. Regulators and companies also shared breaking announcements which facilitate FinTech development. Last year’s cross-border event to Shenzhen even looked closely at the collaboration between Hong Kong and the other cities in the Greater Bay Area.

Register your early-bird tickets now at www.FinTechweek.hk or follow InvestHK’s Twitter account (@HongKongFinTech) #HKFinTechWeek and LinkedIn Page. See how the HK FinTech Week is reshaping the global FinTech ecosystem here.

MEDICI Team

MEDICI

MEDICI Team is a group of content writers, bloggers, journalists, researchers, and editors from the MEDICI who collaborate to create FinTech insights.

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