Fintech O2O

Fintech 020 – “Coins have more than two sides, make the best use of your coins”

Fintech 020 – “Coins have more than two sides, make the best use of your coins”

Fintech 020, co-hosted with Cyberport, Nexchange along with media partner, yours truly, Miss FQ was taken place on Jan 16, 2016 for the International Fintech Pitch Evening. Supporting organizations include the Canadian Chamber of Commerce, University of Warterloo, Chicago booth etc. with gold sponsors such as Invest HK, Four Directions and New Gate. When I first walked into the Smart-Space, level 4, Core E at Cyberport, it was very spacious with a wide view overlooking the Telegraph Bay. Once I got to the level, it’s a very innovative space with multiple meeting rooms and co-working open areas.

A variety of start ups and companies have pitched to the audiences covering sectors like cybersecurity, digital currency, crowdfunding software for private capital markets, platforms to bridge social and banking, cognitive computing technology, math based big data analytics, and smart risk management systems.

“Coins have more than two sides, make the best use of your coins” is the catchphrase of HEYCOINS, which is a chain kiosk that tackle the inconveniences by the use of physical coins. The mechanism behind HEYCOINS is that the kiosk will collect the physical coins from mass market and converts them into digital currency that can be use for multiple purposes, including e-wallet recharge, transportation/cash cards top-up, e-cash coupons purchase, and charitable donations. Its’ intention is to bring positive social impact by recycling coins, removing coins from unwanted circulation, and at the same time, reduce the massive manufacturing costs of coins for government by controlling the return of the stored coins back into circulation. Often in the office, I see colleagues collect and keep physical coins from change and stack them into many rolls. Some would pile them up at the corner of their desk or simply put them into cookie jars. HEYCOINS basically can help alleviating the heavy coins that make you angry to carry with. It can help to locate their kiosk so that you can dump the coins in and then select your favorite conversion options. You can then leave your phone number to process and get your receipt.

HEYCOINS is relentlessly committed to reinvest more than 65% of their profits into business matters that will do social good. They strongly urge the public to basically deposit their unwanted or stored coins into charitable causes via their kiosks. In addition, HEYCOINS provide cash management support services to charities and NGOs such as Unicef, Oxfam, WWF, Hong Kong Blind Union for their fundraising campaigns. This is a positive entrepreneurship which could affect social impact and improve charities’ efficiency in fundraising. To name just a few of the many awards that HEYCOINS has received: Startup Weekend #9 Champion, Cyberport Incubatee, Top Fintech startup in HK by the FST Media, and the Winner of the Global Entrepreneurship Week 2016. The CEO of HEYCOINS, Mr. Eddie Rong is a vibrant and passionate entrepreneur with formal backgrounds in finance and risk management. His previous working experiences include FWD Life Insurance (H.K.), China Taiping Reinsurance (H.K.), ICBC ( China), Pan Pacific Hotels Group (S.G.), and Neusoft Corporation ( China).

With the surging shifts to digital and paperless banking, privacy and cybersecurity have been the hot and important topics. APrivacy is a patented technology that enables banks and financial services to exchange documents with clients securely along with seamless user experience. It basically embeds the security within the document itself, allowing it to be shared on mobile applications with military grade security and the ability for the bank to restrict the access and the use of documents at all times, including when offline or when the document has been downloaded. The benefits would be deploying efficient and cost effective services while complying with all the regulatory requirements. It is fitted for IPOs, M&A transactions, due diligence data room etc.

APrivacy would be able to get rid of the commonly used document exchange tools’ weak security features such as Dropbox. It will also remove the pain points of end users logging on a 3rd party web portal with cumbersome procedures with no mobile or offline capabilities which result in client’s frustrations and disengagement. APrivacy also offers products such as secure e-statement, secure email, and secure messaging besides secure documents sharing. The CEO of APrivacy, Cedric Jeannot, has a PhD in Computer Science, is a cryptography and security expert, and his vision is to provide the banking industry with an information security and tracking services at anywhere, anytime on any device.

The Fintech 020 International Fintech Pitch night was fully packed with speakers, panelists and presenters on many innovative technological platforms and solutions for everyday’s affairs. It has brought many forward thinkers, investors, and revolutioners into the house.

 

NexChange’s Fintech O-2-O Event Series Joins InvestHK’s Fintech Week

NexChange’s Fintech O-2-O Event Series Joins InvestHK’s Fintech Week

Hong Kong’s fintech community explores the state of the ecosystem


Hong Kong:
NexChange, the professional social network for the financial services industry, has expanded its successful Fintech O-2-O event series after its first multi-day conference in Hong Kong in September to join InvestHK’s Fintech Week.

The first Fintech Week will take place at PMQ in Hong Kong the week of November 7, with NexChange hosting an all-day event on Thursday, November 10. More than 25 speakers and 400 attendees from around the region will meet to discuss the state of the fintech ecosystem, with a special focus on the development of fintech careers. Speakers and panelists include:

  • Feridun Hamdullahpur – President and vice-chancellor of the University of Waterloo
  • Edward Tse – Founder & CEO of Gao Feng Advisory Company
  • Stephane Dubois – CEO and Founder of Xignite

Tickets for the Fintech O-2-O Fintech Week are on sale now at Eventbrite.
Miss FQ readers have 20% discount, please use this Discount Code to register: MissFQ

The Fintech O-2-O initiative began in 2015 as a monthly meetup in Hong Kong. The initiative aims to bring together like-minded professionals who recognize the impact of technology on traditional finance. Past events have covered topics such as digital payments, insurance, and venture capital.

About:
NexChange is the professional social network designed exclusively for the financial services industry. Founded in 2014 by investment professional Juwan Lee, NexChange’s mission is to unite the global financial community, enabling professionals to reach their full potential. Through NexChange, financial professionals can connect with their peers, discover events, engage with industry content, and access financial charts and quotes – all in one place.

 

The Dawn of InsurTech in Asia

The Dawn of InsurTech in Asia

By Kyle Wong, Ph.D., FRM and CFA

When most people think of insurance, we think of a salesperson giving the sales presentation in a coffee shop.  If the sale is closed, the customer is asked to do an old fashioned medical check-up.    Then the customer is asked to complete a very long application form.  The way insurance is sold has been pretty much the same for many centuries.  Insurance is not associated with technology.  However, according to Mr. John Brisco, the Chief Information Officer and Chief Operating Officer of Manulife Asia, things are going to change.  The change will start in Asia.

In a talk titled “InsurTech: We didn’t start the fire”, John explains that less than 6% of Asian population has life insurance.  To serve the remaining 94%, relying on agents will not be enough.  Technology is able to bring insurance to many places that do not have enough agents.  Technology can help customers to better understand insurance products.

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Data analytics can help insurance understand their customers better.  It will lead a better pricing.   In Hong Kong, Manulife has launched Manulife Move, which provides their customer with either a Fitbit or Misfit.  The wearable monitors the amount of exercise done by the customer.  More exercise will be rewarded with a lower premium.  This is an excellent application of the Internet of Things.

John commented that insurance companies tend to rank very low in costumer loyalty.  Many costumers either don’t understand the products or have experienced bad service.  InsurTech hopefully can provide better customer service and lead to higher customer satisfaction.  InsurTech can significantly reduce the amount of paper work.

John also gave some advice to InsurTech start-ups.  Don’t count the incumbents out.  The major insurance companies are building innovation labs all over the world.  So the incumbents are becoming start-ups too.  Also many start-ups don’t understand the needs of the incumbents.   While Manulife targets the high end Asian market, the start-ups are often providing mass market solution.

In InsurTech, a major advantage of Asian countries is that the regulations tend to less strict than those in the West.  Some Asian countries, in particular China, is much more progressive in InsurTech.  In China, customers can buy insurance on Wechat and Weixin.  Also technology allows fully customized products such as insurance of any term.  John is also very bullish on InsurTech development in Tel Aviv, where they are plenty of startups doing InsurTech, AI and Data Analytics.  John thinks Hong Kong regulators should allows Hong Kong to catch up with the Asian rivals.

 

NexChange Takes Fintech O-2-O Event Series Global with Hong Kong Summit

NexChange Takes Fintech O-2-O Event Series Global with Hong Kong Summit

Hong Kong’s fintech community connects with a global network

New York, NY: NexChange, the professional social network for the financial services industry, has expanded its successful Fintech O-2-O event series to include its first multi-day conference in Hong Kong.

The first Fintech O-2-O Global Summit will take place on September 27-28th at Cyberport in Hong Kong and will feature 35+ speakers and 400+ attendees from around the world. The summit will kick off with a keynote from Andrew Economos, Former Managing Director, JP Morgan, on digital disruption in asset management. Other speakers and panelists include:

  • Chris Ryan, Managing Director and Head of Asia Pacific, MSCI
  • John Brisco, CIO & COO, Manulife Asia
  • Sebastien Chaker, Managing Director, Head of Asia at Calastone
  • Leonhard Weese, President, Bitcoin Association of Hong Kong

Tickets for the Fintech O-2-O Global Summit are on sale now at FintechO2O.com.
Miss FQ Readers’ 50% discount code: MissFQ

The Fintech O-2-O initiative began in 2015 as a monthly meetup in Hong Kong co-organized by Cyberport and NexChange. The initiative aims to bring together like-minded professionals who recognize the impact of technology on traditional finance. Past events have covered topics such as digital payments, insurance, and venture capital.

About:
NexChange is the professional social network designed exclusively for the financial services industry. Founded in 2014 by investment professional Juwan Lee, NexChange’s mission is to unite the global financial community, enabling professionals to reach their full potential. Through NexChange, financial professionals can connect with their peers, discover events, engage with industry content, and access financial charts and quotes – all in one place.