The social-distancing requirements resulting from the Covid-19 pandemic have accelerated the digitalisation of various types of businesses, notably those in the financial sector. Innovation in financial technology, or fintech, has become essential for companies to continue thriving in the so-called new normal.
At the same time, it opens up a huge, untapped market of 1.7 billion people globally who have yet to gain access to financial services. In Asia, the growth of fintech is expected to be exponential, helping to drive the global economy for decades to come.
Hong Kong, as a well-established international financial center and thriving hi-tech start-up hub in the heart of Asia, is ideally placed to lead the rapid evolution of fintech.