The Hong Kong Monetary Authority (HKMA) today unveiled a number of initiatives that prepare Hong Kong to move into a New Era of Smart Banking. In a keynote speech delivered during the Annual Banking Conference of the Hong Kong Institute of Bankers, Mr Norman Chan, Chief Executive of the HKMA, outlined how the HKMA will take lead and help the banking sector to rise to a higher level and embrace the enormous opportunities brought about by the convergence of banking and technology.
Matthew Ainscow is an experienced Chief Executive with experience in the finance and investment sector of over 20 years. He is leading the innovation in biometric and two-factor authentication solutions and developing security software solutions at Solus.
He has been working with the team to create a cyber security solutions for businesses and organisations in Healthcare, Finance, Premium Digital services like information and Government.
Fintech Asia learns more about the company from Matthew.
The core team at Phi Commerce are experts in the field of digital payments and credit. They have directly been responsible for some of the most innovative payment solutions that are standards in the Indian market today. This team was responsible for the design and roll-out of the solution underpinning the payments network of the largest bank in India as well as the largest outsourced credit card management program in the country.
Cash is still a very dominant mode of payment globally and India is no exception. Experts cite multiple reasons such as cash brings anonymity, cash is cheap, cash is easily available. Despite, a buoyant push by the regulator, citizens of India are not embracing digital payments as expected. Some of the reasons being lack of acceptance infrastructure, lack of parity between digital payments versus cash, lack of awareness and trust.
Cashcow is a fintech startup, which is offering banking products at customer’s doorstep via the Ola / Uber model. Prior to founding Cashcow, Gaurav has founded few ventures which include organisations in the domains like Proprietary Algorithmic Trading Desk, Online Real Estate and Technology Consulting domains. Sector agnostic techno entrepreneur, Gaurav believes that technology can be used for bigger purposes beyond basic needs.
“The present Fintech Indian landscape is in evolution phase, where the startups in categories like digital payments, payday loans, aggregators, p2p lending are enabling technology to solve customer pain points and adding convenience in lending & payments space. One of the key parameter for the success of Indian Fintech startups would be how fast we can bring complete customer profile online. Even today in many ways the underwriting process is offline & physical paperwork is part of the process.”
This feature is part of the ‘Fintech India’ series.
Delivering on its vision to create a global Fintech ecosystem, the Centre for Finance, Technology and Entrepreneurship announces a new partnership with SuperCharger, the leading Fintech accelerator in Asia with offices in Hong Kong and Malaysia.
In less than 3 years, SuperCharger has built a complete ecosystem that benefits both regional early-stage Fintech Start-ups and established western companies. Their accelerator programmes distinguish themselves with a strong B2B sales focus, closing 14 commercial PoC in 12 weeks for its second cohort. Cumulatively SuperCharger’s alumni have raised over US$370million to date.
The Action Community for Entrepreneurship (ACE), a national private-led organisation with the mission to drive innovation and entrepreneurship in Singapore, today signed a Memorandum of Understanding (MoU) with Fukuoka City Government (“Fukuoka City”) with the aim to promote Japan-Singapore bilateral technological and economic developments.
This is the first overseas collaboration formed by the ACE International Centre (ACEIC) further to its launch earlier this month. As part of the Government’s efforts to boost Singapore’s startup scene under the Startup SG brand, the ACEIC has been set up as a dedicated one-stop centre to support startups in international growth and expansion.
European leaders have long identified that the future of the financial services lies in the co-existence of the conventional banks with emerging fintech. However, to reach to that stage, security of the customer data is the major challenge. Despite industry efforts, fraudulent transaction levels are on the rise in Europe.
Payments Services Directive 2 (PSD2) introduces the concept of Strong Customer Authentication (SCA) to provide transaction security. However, this can put Payment Service Providers (PSP) in a Catch 22 situation by having them tread the thin line between transaction security and customer experience.
Let’s see how Risk Based Authentication (RBA) as mandated in the PSD2 guidelines can play the balancing act without compromising on security and ease of use.