Hong Kong’s future is in learning new words: fintech, regtech, wealthtech
Source: South China Morning Post
Hong Kong’s role as a global financial hub may be under threat unless the city can embrace technology and adapt quickly to the tectonic changes that have taken place in the financial landscape in the two decade since its return to Chinese rule, experts say.
The future may very well be in the combination of technology with the key pillars of finance, wealth management, insurance, legal and compliance services of Hong Kong’s economy. Three words will be crucial to this future: fintech for financial technology, regtech for regulatory technology and wealthtech for wealth management technology.