3E Accounting Participates in Asian Financial Forum Webinar Series – “A No-Holds-Barred Fireside Chat on the Future of Fintech in Hong Kong”
3E Accounting was invited to the Asian Financial Forum Webinar Series titled “A No-Holds-Barred Fireside Chat on the Future of Fintech in Hong Kong”. The webinar touched on key points regarding the opportunities and obstacles with Fintech and focused on its connectivity between Hong Kong and the Greater Bay Area.
Hong Kong’s Fintech ecosystem has grown to be a conducive and innovative environment which provides Fintech startups with the ability to directly target the Guangdong-Hong Kong-Macau Greater Bay Area (GBA). The strict regulations in Hong Kong play an important role in the Fintech industry as it makes Hong Kong a safer environment especially for smaller startups, a key reason why 3E Accounting chose to open our new country office in Central, Hong Kong this year. There are rigorous testing systems in place which builds a strong foundation for the future of Fintech.
On 24 July 2020, Hong Kong-Singapore Business Association (HSBA) organised a webinar helmed by the following speakers:
- Dr. Lee George Lam, BBS
Co-Convenor, HKTDC Belt and Road & Greater Bay Area Committee Smart City and Digital Connectivity Task Force.
- Prof KC Chan, GBS, JP
Chairman, WeLab Bank; Adjunct Professor of Finance, The Hong Kong University of Science and Technology; Secretary for Financial Services and the Treasury 2007-2017, The Government of the Hong Kong Special Administrative Region of the People’s Republic of China.
- Mr. Gary Ng
Fintech in the Greater Bay Area
The webinar discussed the highlights of Fintech startups and the most feasible approach into the Greater Bay Area. Dr Lee George Lam described Fintech as the industry that uses Financial Technology to compete with the traditional players. Fintech’s growth and developmental opportunities have vastly changed the outlook and prospects of expansion from just within Hong Kong to view it as a gateway to the entire Greater Bay Area. The transformation of Fintech within the Greater Bay Area has made it easier to innovate and limit complacency in the economy. The constant need to create change is necessary for the expansion of the Fintech industry to be sustainable in this modern economy. Fintech is based on innovation and technological advancements to adapt to the fast-paced growth of our economy, comparatively, the traditional banking industry has no requirements or expectations to do as such.
3E Accounting is Excited About Fintech Opportunities in the Hong Kong Greater Bay Area
The growth opportunities in the Hong Kong Greater Bay Area has increased with the improvements in cybersecurity. Alongside the increased regulations by the Hong Kong authorities, it provides a stable economy and a secure environment. The connectivity within the Greater Bay Area has substantial benefits especially towards the future generations of Fintech.