The FinTech World Is Looking East

According to KPMG studies, FinTech investments in North American and European are decreasing in Q1 of 2016, and have been growing by 20% in Asia, amounting to a total of US-$ 2.7 billion. At the heart of this market is SuperCharger, Hong Kong’s leading FinTech accelerator has partnered with Let’s Talk Payment for media and startup discovery.

Asia has billions of potential customers, most of which are currently underserved by traditional financial services institutions. Secondly, there is an alignment between national policymakers and regulators in developing their local FinTech ecosystems.

The Hong Kong government is actively coordinating its strategy. Its Monetary Authority & Central Bank (HKMA) has announced the launch of Regulatory Sandbox, while the Securities Future Commission (SFC) has initiated a FinTech contact point. Investment promotion is well under way with InvestHK recently appointing a FinTech Leader. Last but certainly not least, recorded FinTech investments in the city amount to US$165 million. Hong Kong displays more maturity but also is a clear attraction point for European and American FinTech companies looking at internationalizing their businesses. Hong Kong remains a highly attractive destination, for its status as a global financial center makes it a natural beacon in the region.

Two years were necessary for giving the necessary FinTech training to corporate partners and now, their implementation phase should enter in force. Entering the Asian market properly requires a detailed planning. Market information asymmetry is high and market stages (e.g. infrastructure, regulators, etc.) are highly fragmented. This is a juncture in which accelerators plays a critical role and SuperCharger aims to place itself.

The success of SuperCharger’s first program has been marked by an avid response to application – 161 applications in Hong Kong – and Demo Days. The second program has been bolstered by an even stronger network of investment partners and decision makers. This year, SuperCharger’s Main Partners include Standard Chartered and Fidelity International, a leading bank in Asia and a global asset and fund manager respectively. The second program will commence on 9 January and conclude in April 2017 with a Demo Day in Hong Kong. See also

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