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APAC FinTech Roadshow to Hong Kong
November 4, 2019 - November 9, 2019
- Matchmaking U.S. FinTech companies and accelerators to Asia Pacific investors, leading financial technology companies, banks, insurance companies, and startups
- 8 to 10 private, pre-qualified one-on-one matchmaking meetings for each U.S. participant
- Sector Briefing by U.S. Consulate and Hong Kong Experts
- Networking Reception, Hong Kong
Why Hong Kong and Asia-Pacific’s FinTech Sector…
- 59.6% of the world’s population (4.58 billion) live in the APAC (Asia Pacific) region
- By 2020 Millennials and Generation X will control 50% of all investable assets.
- APAC’s unbanked population is large
- 73% in SE Asia or 438 million
- 250 million in India
- 500 million in China
- 75% of Asian consumers use a smartphone
- According to a 2019 FICO survey of APAC banks and bankers:
- 91% of risk officers see themselves behind banks in the US and Europe in terms of implementing AI technologies
- 68% see credit decisions will benefit most from AI and machine learning
- 74% fraud will increase moderately or significantly in 2019
- 50% of banks simply block cards on first fraud alert
- Fraud is the leading indicator for 80% while only 6% ranked customer satisfaction as their No. 1 metric!
- 80% of AML budgets are related to headcounts…..done manually by large AML teams
- Six of the top 10 FinTech Hubs are in Asia
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