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 “The GBA initiative, with its aim to develop an international innovation and technology (I&T) hub, creates significant opportunities for Hong Kong’s Fintech sector.
GBA partnership examples
Having operated in Hong Kong for about 18 months, Ireland-headquartered CurrencyFair, a global payments
and money transfer company, has already made a foray
into the GBA market. In Hong Kong – CurrencyFair’s Asian headquarters – the firm offers services to businesses and individuals who need to make speedy, safe and cost effective cross-border money transfers. Currently, as a foreign Fintech company, CurrencyFair is unable to secure a payment licence
in Mainland China, so the firm offers services to companies
and individuals through Mainland Chinese partners who are regulated. To access the GBA market CurrencyFair signed a partnership deal with Buy-World, a Guangzhou-based Chinese online trade network, to launch its payment product. Looking ahead, thanks to Hong Kong’s commitment to putting in place the necessary technological and regulatory infrastructure for digital identification and electronic know-your-customer (eKYC), CurrencyFair hopes to see a streamlined system integration within the GBA, enabling the connection of local electronic identification (eID) systems across Hong Kong, Macao and Guangdong province.
Another Irish firm eyeing the potential the GBA offers from its Hong Kong, Asian base, is Dublin-headquartered Fineos, a global Insurtech firm which provides cloud-based digital core insurance software solution services for the life and health insurance industry. At the heart of the Fineos business model is a cloud-based delivery system known as “Software as a service”
– or SaaS – a software distribution model in which a service provider hosts applications for, and makes them available
to, its customers over the internet on a licence fee basis. As
far as Insurtech development and adoption are concerned, Fineos believes that as Mainland China – and specifically the
GBA – continues to develop, insurance companies, both local
and international, will begin adapting their strategies to the investment and operational environment the GBA offers. As companies and countries rethink where they are going to put their operations and adjust what they are going to do about their Mainland China strategy, Fineos believes that, as a global risk management centre and a regional insurance hub boasting more
目前仍無法在內地申領支付服務牌照,需要 通過受監管的內地合作夥伴為公司和個人提 供服務。為了進入大灣區市場,CurrencyFair 與總部位於廣州的中國電子商貿平台廣貿天 下簽訂合作協議,以推出其支付產品。展望未 來,由於香港承諾為數碼識別及「電子化認識 你的客戶」設立所需的技術和監管基礎架構, CurrencyFair希望大灣區可實現簡化的整 合系統,以聯繫粵港澳三地的本地電子識別 系統。
愛爾蘭公司Fineos是另一家著眼大灣區發展 潛力的國際保險科技公司,總部位於都柏林, 以香港為亞洲基地,是家,為人壽及醫療保險 業者提供以雲端為基礎的數碼核心保險軟件 解決方案。Fineos的業務模式以雲端分發系統 為重心,系統名為「軟件即服務」(SaaS),在此 軟件分發模式下,服務供應商會收取許可費, 經互聯網向客戶提供應用程式,並代為管理。 就保險技術的發展和應用而言,Fineos 認為 隨著中國內地尤其是大灣區不斷發展,無論是 本地還是國際保險公司都會開始根據區內的 投資和營運環境調整策略。隨著公司和各國重 新考慮在甚麼地方開展業務,並調整其對華策 略,Fineos 相信,香港作為全球風險管理中心, 也是擁有超過160家認可保險公司的區域保 險樞紐,可以走在發展進程的最前端,這也是 Fineos選擇香港作為其亞洲總部的原因。
ISSUE 119 • 2021

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