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

    ESAs Issue Multiple Regulatory Updates for Financial Sector Entities

    The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.

    November 15, 2022 WebPage Regulatory News
    News

    FSB and NGFS Publish Initial Findings from Climate Scenario Analyses

    The Financial Stability Board (FSB) and the Network for Greening the Financial System (NGFS) published a joint report that outlines the initial findings from climate scenario analyses undertaken by financial authorities to assess climate-related financial risks.

    November 15, 2022 WebPage Regulatory News
    News

    FSB Issues Reports on NBFI and Liquidity in Government Bonds

    The Financial Stability Board (FSB) published a letter intended for the G20 leaders, highlighting the work that it will undertake under the Indian G20 Presidency in 2023 to strengthen resilience of the financial system.

    November 14, 2022 WebPage Regulatory News
    News

    ISSB Makes Announcements at COP27; IASB to Propose IFRS 9 Amendments

    The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.

    November 10, 2022 WebPage Regulatory News
    News

    IOSCO Prioritizes Green Disclosures, Greenwashing, and Carbon Markets

    The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.

    November 09, 2022 WebPage Regulatory News
    News

    EBA Finalizes Methodology for Stress Tests, Issues Other Updates

    The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups

    November 09, 2022 WebPage Regulatory News
    News

    EU Finalizes Rules Under Crowdfunding Service Providers Regulation

    The European Union has finalized and published, in the Official Journal of the European Union, a set of 13 Delegated and Implementing Regulations applicable to the European crowdfunding service providers.

    November 08, 2022 WebPage Regulatory News
    News

    OSFI Sets Out Work Priorities and Reporting Updates for Banks

    The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.

    November 07, 2022 WebPage Regulatory News
    News

    APRA Finalizes Changes to Capital Framework, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.

    November 03, 2022 WebPage Regulatory News
    News

    BIS Hub and Central Banks Conduct CBDC and DeFI Pilots

    The Bank for International Settlements (BIS) Innovation Hubs and several central banks are working together on various central bank digital currency (CBDC) pilots.

    November 03, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8596