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Eddie Yue: HK Banking Sector's Fintech Adoption Rate Now at 95%
2025-10-24 12:49:34 Eddie Yue, Chief Executive of the Hong Kong Monetary Authority (HKMA), published an article today (24th) saying that the HKMA has taken proactive steps through its "Fintech 2025" to drive Hong Kong's banking sector towards a more innovative and resilient future. The three pillars, namely "All Banks Go Fintech", building a fintech-savvy workforce, and nurturing a dynamic ecosystem through funding and supportive policies, are solidifying Hong Kong's position as a leading international financial center and propelling the city further along its path of digital transformation. In just a few years, Yue said that banks in Hong Kong have moved from merely exploring fintech to embedding it into their end-to-end operations, with a 95% adoption rate according to the HKMA's 2025 Tech Maturity Stock-take. Customers are already reaping the benefits: from mobile apps that enable remote account opening, to lending processes that are streamlined through the use of alternative data, and to the adoption of AI-powered deepfake detection for enhanced security. ~ AAStocks Financial News Web Site: www.aastocks.com | |