Featured Product

    BIS and HKMA Announce Winners of Trade Finance TechChallenge

    November 02, 2020

    The BIS Innovation Hub Center in Hong Kong SAR and the HKMA announced winners of TechChallenge for the Digitizing Trade Finance initiative. The competition was launched in August and nearly 17 winners and runners-up of the TechChallenge competition highlighted the potential of new technologies to enhance trade finance. The winners will showcase technology solutions and take part in the Hong Kong FinTech Week, which will run as a virtual event on November 02-06.

    Winners were selected from 103 technology solutions submitted by applicants worldwide. The submissions catered to three problem statements on connecting digital Islands and increasing network size and effects; trade finance inclusion for small and medium-size enterprises; and TradeTech for emerging markets. The following is the list of winners, including the runners-up:

    • Business Big Data Inc.
    • eCOM Asia Ltd.
    • EMALI.IO Ltd.
    • essDOCS Ltd.
    • Forms Syntron Information (HK) Ltd.
    • FreightAmigo Services Ltd.
    • HashKey Group
    • iLoan
    • KYC-Chain Ltd.
    • Linklogis International Company Ltd.
    • OneConnect Financial Technology Co., Ltd.
    • PricewaterhouseCoopers Consulting Hong Kong Ltd.
    • Refinitiv Hong Kong Ltd.
    • Standard Chartered and University of Hong Kong-SCF FinTech Academy
    • Sedicii Innovations Ltd.
    • Velotrade Management Ltd.
    • WeBank Co., Ltd.

    This TechChallenge, a joint initiative of the BIS Innovation Hub and HKMA, was designed to showcase the potential for new innovative technologies to resolve problems in trade finance. It was supported by the Asian Development Bank (ADB), the International Chamber of Commerce (ICC), the International Institute of Finance (IIF), the People's Bank of China, and the Wolfsberg Group.

     

    Related Links

    Keywords: International, Asia Pacific, Hong Kong, Banking, Trade Finance, Fintech, Regtech, HongKong Fintech Week, HKMA, BIS

    Related Articles
    News

    OSFI Finalizes on Climate Risk Guideline, Issues Other Updates

    The Office of the Superintendent of Financial Institutions (OSFI) is seeking comments, until May 31, 2023, on the draft guideline on culture and behavior risk, with final guideline expected by the end of 2023.

    March 12, 2023 WebPage Regulatory News
    News

    BIS Paper Examines Impact of Greenhouse Gas Emissions on Lending

    BIS issued a paper that investigates the effect of the greenhouse gas, or GHG, emissions of firms on bank loans using bank–firm matched data of Japanese listed firms from 2006 to 2018.

    March 03, 2023 WebPage Regulatory News
    News

    HMT Mulls Alignment of Ring-Fencing and Resolution Regimes for Banks

    The HM Treasury (HMT) is seeking evidence, until May 07, 2023, on practicalities of aligning the ring-fencing and the banking resolution regimes for banks.

    March 02, 2023 WebPage Regulatory News
    News

    BCBS Report Examines Impact of Basel III Framework for Banks

    The Basel Committee on Banking Supervision (BCBS) published results of the Basel III monitoring exercise based on the June 30, 2022 data.

    February 28, 2023 WebPage Regulatory News
    News

    PRA Consults on Prudential Rules for "Simpler-Regime" Firms

    Among the recent regulatory updates from UK authorities, a key development is the first-phase consultation, from the Prudential Regulation Authority (PRA), on simplifications to the prudential framework that would apply to the simpler-regime firms.

    February 28, 2023 WebPage Regulatory News
    News

    DNB Publishes Multiple Reporting Updates for Banks

    DNB, the central bank of Netherlands, updated the list of additional reporting requests and published additional data quality checks and XBRL-Formula linkbase documents for the first quarter of 2023.

    February 28, 2023 WebPage Regulatory News
    News

    NBB Sets Out Climate Risk Expectations, Issues Reporting Updates

    The National Bank of Belgium (NBB) published a communication on climate-related and environmental risks, issued an update on XBRL reporting

    February 24, 2023 WebPage Regulatory News
    News

    EBA Updates Address Securitization Standards and DGS Guidelines

    The European Banking Authority (EBA) published the final draft of the regulatory technical standards that set out conditions for assessment of homogeneity of the underlying exposures in simple, transparent, and standardized (STS) securitizations.

    February 21, 2023 WebPage Regulatory News
    News

    FSB Publishes Letter to G20, Sets Out Work Priorities for 2023

    The Financial Stability Board (FSB) published a letter intended for the G20 Finance Ministers and Central Bank Governors, highlighting the work that FSB will take forward under the Indian G20 Presidency in 2023

    February 20, 2023 WebPage Regulatory News
    News

    ISSB Standards May Become Effective from January 2024

    The International Organization of Securities Commissions (IOSCO) welcomed the confirmation statement by the International Sustainability Standards Board (ISSB) setting out its progress in the development of its first sustainability-related corporate disclosure standards.

    February 17, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8792