10 Fintechs That Are Transforming SME Lending

Small and medium enterprises (SMEs) are innovative, agile and drive competition. However, they’re often shuffled to the back of the line when it comes to accessing credit. Lending to SMEs can be risky and time-consuming. Traditional financial institutions often require paperwork-heavy application processes and may find it difficult to execute credit risk decisioning without human […]

Innovative Technology Remedies Almost 100% Of Payment Pain Points in APAC

The Asia-Pacific region, with 13 countries that process US$17.8 billion in digital payments per year, tends to invite issues as big as the region itself. As we kick-start 2023, banks and financial institutions (FIs) in the region will be pleased to know that technology is addressing the region’s top-tier payments issues – and not a […]

Coinbase Shutters Japan Operations, Users Have Until 16 Feb to Withdraw Assets

Cryptocurrency exchange Coinbase said that it will be shuttering its operations in Japan and its users has until 16 February to withdraw their assets. All customers can withdraw their fiat currency and cryptocurrency holdings to other crypto service providers, Coinbase Wallet or other self-hosted wallets. They can also liquidate their portfolio and withdraw Japanese Yen […]

South Korean P2P Lender PeopleFund Raises US$20 Million Led by Bain Capital

South Korean peer-to-peer (P2P) lending platform PeopleFund announced that it has raised an additional US$20 million led by existing investor Bain Capital. The round, which was open only to its existing investors, was joined by Access Ventures, CLSA Capital Partners Lending Ark Asia, D3 Jubilee Partners, 500 Global, Kakao Investment, TBT Partners and IBX Partners. […]

The Changing Face of Insurance Distribution in Hong Kong — Can Incumbents Keep Up?

In recent years, especially since 2019, there has been a noticeable shift in Asian consumers buying behaviour towards online channels. This holds true for the insurance industry as well, with customers searching for virtual policies in larger numbers.  In Hong Kong, where over half the population is aware of digital insurance and premiums have been […]

ZA Bank Offers Debt Consolidation Plan With 6-Months Payment Deferment

Hong Kong’s virtual bank ZA has rolled out its new debt consolidation programme ‘Debt Changer’ which seeks to make it easier for customers to repay their debts in one go and improve their credit ratings. The new offering will consolidate customers’ debts with other banks, financial institutions and credit cards into a single loan within […]

Hong Kong Set to Roll Out Contactless Payments at Toll Booths This Year

Hong Kong’s Transport Department (TD) will be gradually rolling out the HKeToll at all government tolled tunnels this year to replace the manual and automatic toll booths. HKeToll makes use of the Radio Frequency Identification (RFID) technology, with the support of the Automatic Number Plate Recognition technology, to allow vehicles to pay tolls without stopping […]

InvestHK to Aid Indonesian and Singaporean Firms to Set Up in Hong Kong

InvestHK’s Director-General of Investment Promotion Stephen Phillips has embarked on a duty visit to Jakarta, Indonesia as well as Singapore this week. The tour is part of InvestHK‘s latest efforts to promote Hong Kong’s business attractions, including the opportunities arising from the Greater Bay Area (GBA). During the visit, Phillips will be meeting with representatives […]

Manulife Appoints Anne-Maree Tassell as COO for Asia

Manulife has announced the appointment of Anne-Maree Tassell as its new Chief Operations Officer for Asia effective today onwards. Anne Maree Tassell Anne-Maree will be driving the Manulife’s growth strategy and digital transformation in the region. She has more than 30 years’ experience in financial services and will play a pivotal role in shaping Manulife’s […]

ZA Bank Rolls Out Short-Term Savings Insurance Available From HKD10,000

Hong Kong’s virtual bank ZA announced that it has rolled out another short-term savings insurance plan starting from HKD 10,000 (approximately US$ 1,280) through the app in just 3 minutes. The ‘ZA Savings Insurance 4’ is denominated in Hong Kong dollars with an 18-month locked-in period. The maximum premium for each insured person and policy […]