Hong Kong finance firms lead in AI deployment

58% of financial firms in the city will utilise AI next year.

Hong Kong is way ahead of Singapore, the United Kingdom and the United States in terms of financial institutions deploying AI, but barriers to innovation persist, a Finastra survey revealed.

More than half (58%) of financial firms in the city are keen on utilising AI next year, at least 11% higher than any other market surveyed. Furthermore, nine out of 10 (95%) of firms view fintech partnerships as a factor to their success, with 89% of respondents either having adopted, currently adopting, or mulling to adopt open APIs in the next 12 months.

Half (53%) of Hong Kong respondents said that open banking has allowed them to deliver new services and new revenue streams, compared to 26% in Singapore and a measly 16% in the UK. Two-thirds (67%) revealed that better customer service is a factor that would promote collaborations.

However, six out of 10 (62%) said that Hong Kong’s regulations hinder further growth as they feel that there is not enough government or industry support. Cost of development (55%) is another particular concern. This factor is also a matter of concern for Singapore (51%).

In terms of collaborations, complex regulations are once again the leading barrier (50%), followed by legacy systems (47%), lack of internal understanding or skills (45%), internal culture (40%) and a reduced control in decision-making (32%).

Photo courtesy of Pexels.com.

Pembekuan pendanaan menghantam penyedia layanan BNPL

Investor semakin sedikit mengalirkan dana ke penyedia layanan BNPL yang sudah menghadapi keuntungan margin yang tipis.

HSBC: Aliansi bank-fintech merupakan win-win

Pemberi pinjaman dapat belajar dari teknologi disruptif sambil membantu mereka mematuhi regulasi.

Tokenisasi aset perdagangan untuk menjembatani kesenjangan pembiayaan

Teknologi blockchain dapat mendesentralisasikan operasi keuangan dan mempermudah akses kredit.

BCA menjalankan komitmen terhadap keuangan berkelanjutan

Bank asal Indonesia ini mempertimbangkan aspek lingkungan dan tata kelola dalam keputusan pemberian pinjaman.

Mengapa UNOBank mendorong embedded finance tumbuh di Filipina

Bagi UNOBank, banking interface terpadu adalah strategi pertumbuhan sekaligus upaya inklusi keuangan.

OCBC mencoba mengurangi kesenjangan manfaat bagi agen properti di Singapura

Produk terbarunya menawarkan manfaat finansial di bidang perbankan, asuransi, dan perdagangan.

Upaya Malaysia menjadi anggota BRICS untuk mendorong perombakan sistem perbankan

Namun, tantangan muncul ketika menjauh dari ketergantungan pada AS dan SWIFT.

Platform pembayaran PingPong memperoleh lisensi PJP di Indonesia

PingPong mengincar ekspansi ke pasar ekspor senilai $320 miliar di negara tersebut.

Merger dan penutupan mengancam 3.800 bank di area pedesaan Cina

Sekitar 70 bank di area tersebut telah merger sejak 2023.