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To encourage fintech growth, Hong Kong’s regulators should “take a step...
Considering the plethora of consultation papers issued in the city this year, Hong Kong’s regulators need to “take a step back” and work on ways to “open up” the financial services sector to the...
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Fintech companies’ partnerships with banks are “unequal”
As more banks collaborate with fintech firms, EY’s Asia Pacific fintech leader, James Lloyd, says it is important to note that such agreements are lopsided and more closely resemble “service...
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SFC wants to see more regtech solutions in Hong Kong
The Securities and Futures Commission (SFC) wants to see more technology providers “supporting compliance in a more general perspective” in Hong Kong, according to Benedicte Nolens, senior director...
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Smaller private banks can “rent a platform” to stay in business, says UBS’...
Smaller private banks – which may otherwise struggle to stay afloat amid a rising regulatory burden and hefty upfront costs when installing front-to-back platforms – should consider outsourcing parts...
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New robo advisory guidelines will result in “greater choice” for investors,...
Proposed guidelines on online distribution and advisory platforms in Hong Kong – which cover robo advice for the first time – will result in more “distribution channels” and will therefore give...
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HK fintech agency plans to extend cyber security platform to insurance,...
Hong Kong’s fintech research agency plans to collaborate with securities and insurance regulators to prevent cyber attacks in those industries, after launching a similar initiative for banks last...
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MAS seeks industry’s input on robo advisory regulations
The Monetary Authority of Singapore (MAS) published a consultation paper today on the provision of digital advisory services – a month after the regulator’s counterpart in Hong Kong released a similar...
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Customised regtech solutions key for PBs as a “one-size-fits-all approach...
Amid changing international regulations, Asia’s private banks are showing greater demand for “localised” solutions that help them cope with regulatory complexity, says Thomson Reuters. “As regulations...
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UBS plans to roll out 100 “robots” in Asia by end-2017
UBS plans to house an army of 100 “robots” – or systems that automate repetitive tasks – in its Asia Pacific offices by the end of the year, as the bank undergoes a “robotisation” process, according...
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Hong Kong wealthtech provider enhances HNW offering with new partnership
Hong Kong-based wealthtech provider Privé Managers has inked a deal with 360F, another wealthtech and insurance advisory firm, to enhance its advisory tools for private banking and independent asset...
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Singapore signs its seventh fintech agreement
The Monetary Authority of Singapore (MAS) has signed its seventh agreement aimed at strengthening fintech collaboration and innovation, this time with an industry body covering the banking system...
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Hiring more RMs is not enough to compete over the long term, say tech providers
Private banks need to diversify their asset acquisition strategies by adopting data-driven solutions, as relying solely on hiring more relationship managers is “not a sustainable solution”, 360F CEO...
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UBS WM to address “client inconvenience and RM risk” with new tech tie-up
UBS Wealth Management has inked a deal with a Singapore-based tech firm to develop a secure communication platform for the lender’s relationship managers and clients, aimed at resolving the “massive...
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UBS WM launches fintech lab in Hong Kong
UBS Wealth Management has soft-launched its new fintech lab in Hong Kong, according to Amy Lo, head of Greater China and co-head of global UHNW for the Asia Pacific at UBS Wealth Management, and...
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Hong Kong signs fintech agreement with Australia
Hong Kong’s Securities and Futures Commission (SFC) has signed an agreement with the Australian Securities & Investments Commission (ASIC) to establish a framework for fintech cooperation, the SFC...
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Thomson Reuters Eikon to link with messaging platform
News and data company Thomson Reuters has signed a deal with US-based messaging service platform, Symphony Communication Services, that will allow users to share content from its Eikon platform, the...
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Avaloq closes Warburg Pincus deal
Avaloq has completed its transaction whereby private equity firm Warburg Pincus acquires a 35% stake in the private banking solutions provider, Avaloq said today. “Under the partnership announced on...
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HKMA’s Norman Chan on fintech: “Balance between convenience and investor...
While the Hong Kong Monetary Authority (HKMA) supports technology and innovation, the regulator wants to see a healthy balance between convenience and investor protection, according to the watchdog’s...
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Data protection and liability in focus as banks adopt AI, says law firm
Banks should be cognisant of data protection and the scope of liability when harnessing big data and artificial intelligence (AI), says Adrian Lawrence, partner at Baker McKenzie. Lawrence said at the...
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Confusion abounds as China enforces new cyber security rules, says law firm
China’s new cyber security rules, which were implemented on 1 June, are causing “lots of confusion”, says Baker McKenzie partner Nancy Leigh, who believes that companies should not make “any drastic...
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