Latest news with #WeBank
Yahoo
26-05-2025
- Business
- Yahoo
WeBank Technology Services Wins International Fintech Award
HONG KONG, May 26, 2025 /PRNewswire/ -- On May 22, at the TAB Global Financial Technology Innovation Awards 2025 ceremony held by The Asian Banker ("TAB"), WeBank Technology Services and Fusion Bank were jointly awarded the Best Core Banking Technology Initiative (Small Bank) in Asia Pacific for their collaborated project of Next-Generation Core Banking System. The TAB Global Financial Technology Innovation Awards is one of the most prestigious benchmarking awards for technology innovation leadership and performance in the global financial services industry. The Best Core Banking Technology Initiative specifically acknowledges institutions with exceptional technological advancement in core banking systems. This is the first time in three years that a Hong Kong digital bank won at the TAB Global Financial Technology Innovation Awards, indicating the technological leadership of the project's collaborative achievement. The award-winning project was launched to enhance Fusion Bank's digital service capabilities and meet its business innovation and cost-efficiency needs to ensure the bank's sustainable development. The project covered upgrade of over 150 subsystems across five core business areas of Fusion Bank, and was completed with a swift cutover in just 15 hours. The data in legacy systems from various vendors were seamlessly migrated to the new core banking system within merely six hours. Supported by WeBank Technology Services with its core banking system solutions, the project has set a new benchmark in banking system upgrade for the banking industry in Hong Kong. Leveraging the distributed architecture design from WeBank Technology Services, the upgraded system can now scale on demand according to business growth, solving the previous pain points of high upfront IT investment. Additionally, it further enhances the business agility and shortens the time-to-market for new product launches, through parameterized products, process orchestration, and AI-native capabilities. After the new system went live, the product development cycle of Fusion Bank was reduced from an average of six months to three months, with non-human IT costs expected to be cut by 53% by 2027. Notably, the new system is widely compatible with mainstream software and hardware, offering the advantages of openness and being technology-agnostic. The Asian Banker highlighted: "WeBank Technology Services and Fusion Bank have demonstrated exceptional innovation through the successful execution of this technology initiative, effectively addressing current and future business needs while enhancing service capabilities. This has resulted in notable business outcomes, significant efficiency gains and enhanced customer value, surpassing industry peers." Billy Chiu, Chief Technology Officer of Fusion Bank, said: "We are truly honored to be the only Hong Kong digital bank receiving this award in the past three years. It is a significant recognition for both Fusion Bank and WeBank Technology Services. The upgrade of our next-generation core banking system shows our ongoing commitment to advancing financial inclusion through fintech, making our banking services more accessible and efficient for a broader segment of the community." As the wholly-owned fintech arm of WeBank, WeBank Technology Services leverages the parent company's leading practices in digital banking, focuses on providing digital finance and digital infrastructure solutions globally. Currently, WeBank Technology Services is expanding its partnership with multiple institutions across markets like Hong Kong SAR, Indonesia, Thailand, Malaysia and Qatar. About WeBank Technology Services Launched in Hong Kong in June 2024, WeBank Technology Services sets out to leverage WeBank's cutting-edge fintech capabilities and digital finance best practice to deliver a variety of superior digital finance and digital infrastructure solutions to digital banks, financial institutions, government agencies, and industry partners worldwide. About WeBank Established in 2014, WeBank Co., Ltd. ("WeBank") is the first digital bank in China. WeBank provides convenient financial services to micro-, small- and medium-sized enterprises (MSMEs) and the public, and continuously improves the quality of services in response to customers' specific needs. WeBank has served over 420 million retail customers and 5.8 million enterprises. WeBank has pioneered the development of the world's first fully distributed next-generation core banking system using standardized hardware and open-source software. It maintains an exceptional system availability of 99.999% with peak daily transaction exceeding 1.4 billion, while the annual IT O&M cost per account remains as low as USD 0.3, only one-tenth of the industry average. View original content to download multimedia: SOURCE WeBank Technology Services Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fintech News ME
20-05-2025
- Business
- Fintech News ME
Klickl, WeBank and Goldford Group Partner to Drive Cross-Regional Fintech Innovation
Klickl, a regulated Web3 financial services provider, has signed a tripartite MoU with WeBank, a digital bank from Mainland China, and Goldford Group, an innovation-focused conglomerate in Hong Kong. The agreement sets out to create a cross-regional fintech innovation alliance connecting Mainland China, Hong Kong, and the Middle East. The MoU was signed during an official visit to Qatar by a delegation from Hong Kong and Mainland China, led by Hong Kong Chief Executive John Lee. This collaboration represents the first structured initiative linking fintech ecosystems across the Greater Bay Area and the Middle East. Klickl contributes its regulatory knowledge and experience in Web3 financial services within the Gulf region. WeBank provides technological expertise from Mainland China, while Goldford Group supports integration across Hong Kong's innovation landscape. The alliance will focus on several areas including the development of a blockchain and AI incubation platform, support for startup acceleration between Asia and the Middle East, delivery of next-generation financial services for cross-border applications, digital transformation support for traditional financial institutions, localisation of fintech solutions for Gulf markets, and the exploration of quantum technology for financial use cases. 'This partnership is more than symbolic, it is strategic,' said Michael Zhao, Founder and CEO of Klickl. 'As the only homegrown Web3 financial services provider in the region, we are proud to help bridge capital, compliance, and technology across three economic hubs. This alliance reflects not only our infrastructure readiness, but also the trust we've built with institutions across Asia and the Middle East.' Klickl is licensed by the Abu Dhabi Global Market (ADGM) under its Financial Services Permission (FSP) and holds Virtual Asset Service Provider (VASP) registration in the European Union. The firm provides Web3-native financial services including digital wallets (Klickl4U), institutional accounts (KlicklONE), payment infrastructure (KlicklPay), stablecoin services, asset custody, and trading infrastructure. It has also participated in official economic delegations to Malaysia, Poland, and Japan.
Zawya
19-05-2025
- Business
- Zawya
Klickl signs strategic MOU with WeBank and Goldford Group
ABU DHABI — Klickl, a regulated Web3 financial services provider based in the UAE, has signed a landmark tripartite Memorandum of Understanding (MOU) with Mainland China's leading digital bank, WeBank, and Hong Kong's innovation conglomerate, Goldford Group. The collaboration aims to establish a cross-regional fintech innovation alliance spanning Mainland China, Hong Kong, and the Middle East—ushering in a new phase of digital economic cooperation. The signing took place as part of a broader economic dialogue catalyzed by the official visit of a high-level delegation from Hong Kong and Mainland China to Qatar, led by Hong Kong Chief Executive John Lee. The mission included top officials such as the Financial Secretary and senior representatives from the Financial Services and Treasury Bureau, alongside more than 30 enterprise delegates, reflecting a shared interest in advancing strategic cooperation in digital finance, AI, and infrastructure development across the Gulf region. At the ceremony, Klickl UAE CEO Dermot Mayes, Goldford Group representative and Legislative Council member Dr. Duncan Chiu, and senior executives from WeBank formally sealed the agreement—positioning the three parties to co-develop financial infrastructure across blockchain, AI, and quantum technologies. A Strategic Tri-Regional Collaboration Framework With growing regional momentum toward digital transformation, this partnership represents the first structured initiative of its kind to link fintech ecosystems across the Greater Bay Area and the Middle East. Klickl brings its compliance-first Web3 financial capabilities and deep understanding of the Gulf regulatory landscape; WeBank contributes leading financial technology from Mainland China; and Goldford Group offers integration strength across Hong Kong's tech innovation ecosystem. The alliance will jointly pursue six core areas of cooperation: Blockchain & AI Incubation Platform Startup Acceleration Across Asia–MENA Next-Gen Financial Services for Cross-Border Use Cases Digital Transformation for Legacy Financial Institutions Localized Fintech Deployment for Gulf Markets Quantum Technology Exploration in Financial Applications Klickl's Institutional Role: Bridging Regulation, Markets, and Innovation 'This partnership is more than symbolic—it is strategic,' said Michael Zhao, Founder and CEO of Klickl. 'As the only homegrown Web3 financial services provider in the region, we are proud to help bridge capital, compliance, and technology across three economic hubs. This alliance reflects not only our infrastructure readiness, but also the trust we've built with institutions across Asia and the Middle East.' Klickl's institutional credibility is backed by its status as a policy-aligned fintech entity, having participated in recent sovereign economic missions to Malaysia, Poland, and Japan. Its regulatory licensing through ADGM (FSP) and VASP registration in the European Union positions Klickl to operate across key financial jurisdictions, providing end-to-end Web3-native solutions including digital wallets (Klickl4U), institutional accounts (KlicklONE), payment rails (KlicklPay), stablecoin services, asset custody, and trading infrastructure. Outlook: A New Financial Corridor Connecting East and Gulf As Hong Kong amplifies its engagement in the Middle East and the UAE accelerates its digital economy agenda, Klickl stands uniquely positioned to anchor multi-regional collaboration. The signing of this MOU is a pivotal step in its international growth, and a signal of the convergence between policy, fintech, and decentralized infrastructure. The company remains committed to co-building the next generation of global Web3 financial infrastructure—designed for compliance, optimized for interoperability, and aligned with institutional-grade trust. For more information, visit:
RTHK
12-05-2025
- Business
- RTHK
‘HK ideal platform to reach out to new markets'
'HK ideal platform to reach out to new markets' Joe Chen (left) and Johnny Ng spoke of Hong Kong's role as a super connector for both mainland and overseas firms. Photo: RTHK A leading Chinese digital bank says Hong Kong provides the ideal platform for mainland enterprises to reach out to Belt and Road markets, citing the city's strengths in technology and global network. That's according to Joe Chen, the executive vice president of WeBank who's one of two dozen mainland businessmen currently on the chief executive's trade delegation to the Middle East. The entrepreneur - on behalf of WeBank - struck a number of memoranda of understanding (MoU) in Doha on Monday. They included the only tripartite agreement among the 35 signed, putting pen to paper a partnership framework with Goldford Group in Hong Kong, and Klickl Technology in Qatar. The Shenzhen-based digital bank which specialises in fintech has set up a subsidiary in the SAR last year. 'So this newly established entity in Hong Kong allows us to use Hong Kong as the platform to reach out to [Belt and Road] initiative countries to better promote our technology platform,' he told the press after the MoU ceremony. 'So Hong Kong will be serving as our I&T centre and also sales centre, and also allows us to also be involved in the Web 3.0 ecosystem that Hong Kong is building. 'All these things will be a great platform for us to launch (our) business internationally.' Goldford, meanwhile, is an investment firm which funds emerging tech startups. Chairman Johnny Ng, who's also a lawmaker, was asked if there was a concrete timetable for collaboration. 'Actually this is a mid to long-term cooperation,' he said at the same event. 'In the short term, we have considered to invest some budget to localise the products and then to tailor-made for some localised users. 'But in the long run, I think we need to have more training and support to do some incubation and accelerations to a local enterprise in order to make sure the whole business lifecycle and also the ecosystem can be built and suitable for themselves to use.' Ng added it is difficult to give an estimate on the amount of money involved, saying multiple injections would be needed at different stages of cooperation.
South China Morning Post
31-01-2025
- Business
- South China Morning Post
Tencent-backed WeBank eyes Web3 expansion in Hong Kong
Published: 7:00am, 1 Feb 2025 Tencent Holdings -backed online lender WeBank is leveraging its new Hong Kong subsidiary to tap the city's expanding Web3 market, according to a company executive, as the financial hub continues its pursuit to establish itself as a virtual asset hub. WeBank Technology Services, launched this month, plans to be 'deeply involved' in developing the city's Web3 infrastructure, as it holds a 'very open' attitude towards the industry, WeBank's chief information officer Henry Ma said in an interview. 'I think Hong Kong needs a robust and regulator-friendly Web3 infrastructure,' Ma said. 'I believe we are a very good fit.' Founded by Tencent and other Chinese firms in 2014, Shenzhen-based WeBank is China's largest online-only lender and the world's 10th largest unicorn, valued at 235 billion yuan (US$32.4 billion) last year, according to a Hurun Research Institute report published in April. Henry Ma, chief information officer at WeBank, speaks at the opening of Hong Kong Fintech Week on October 31, 2018. Photo: K. Y. Cheng Beyond digital banking, WeBank also operates an open-source blockchain platform named FISCO BCOS, which the company said in December has more than 500 use cases in China across industries including finance, government services and education.
