Asia Banking Research

Mar

Hong Kong virtual banks now a reality

Hong Kong authorities will reportedly soon issue digital banking licenses to six different companies in a bid to shake up the former British crown colony’s financial sector. The lucky six include Chinese internet banking heavyweights Ant Financial and Tenpay, Zhongan Insurance (in a tie-up with Citic), Hong Kong Telecom, smartphone…

Feb

Asia Banking Research

Banking digitalization doesn’t come easy in the Philippines

The Philippines is gradually boosting financial inclusion as it digitalizes its banking sector. In early February, Manila-based financial inclusion firm Oradian announced it would partner with Cantilan Bank to provide digital banking services to the nation’s most remote corners. In a press release, the companies said that Cantilan Bank is…

Feb

Asia Banking Research

Taiwan’s fintech regulatory sandbox accepts first startup

Taiwan’s regulatory sandbox has approved its first startup, Hong Kong-based financial settlement network EMQ. In Taiwan, EMQ will focus on remittance services for Indonesian, Vietnamese and Filipino migrant workers – a large and growing market. In 2018, migrant workers in Taiwan sent more than US$3 billion home, according to Taiwan’s…

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